Halliburton Awarded Bundled Deepwater Well Construction and Completions Contract
Halliburton Awarded Bundled Deepwater Well Construction and Completions Contract
Halliburton (HAL) has secured a bundled well construction and completions contract from Eni for the Cronos ultra-deepwater development in Block 6 of Cyprus’ Exclusive Economic Zone.
HOUSTON--(BUSINESS WIRE)--
Halliburton (NYSE: HAL) announced today it secured a bundled well construction and completions contract from Eni for the Cronos ultra-deepwater development in Block 6 of the Cyprus Exclusive Economic Zone. The award strengthens Halliburton’s offshore portfolio in the Eastern Mediterranean and expands the company’s role in the region’s strategic natural gas development.
Under the contract, Halliburton will deliver integrated drilling, well construction, automation, and completions services for exploration and development wells. The bundled scope reduces operational interfaces, improves execution certainty, and supports efficient delivery for a multi-year ultra-deepwater development.
“The Cronos award builds on Halliburton’s longstanding relationship with Eni and highlights the company’s ability to deliver integrated offshore solutions for complex deepwater developments,” said Jean-Marc Lopez, senior vice president, Europe, Eurasia, and Sub‑Saharan Africa, Halliburton. “The award strengthens Halliburton’s position in the Eastern Mediterranean, one of the industry's most active emerging offshore gas regions. The company expects its integrated delivery model to support future development as operators prioritize efficiency, performance, and long-term value.”
The scope includes drilling fluids, directional drilling, LOGIX™ automation and remote operations, cementing, surface well testing and coiled tubing. Halliburton will support the efforts through its established infrastructure and regional capabilities in Cyprus, which provide logistical advantages and help ensure reliable execution throughout the campaign.
The Cronos project establishes a platform for future deepwater development in the Eastern Mediterranean. Halliburton expects to apply this integrated delivery model to additional offshore campaigns as operators seek efficiency, reliable performance, and long-term value in increasingly complex offshore environments.
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Halliburton is one of the world’s leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Visit us at www.halliburton.com; connect with us on LinkedIn, YouTube, Instagram, and Facebook.
An exclusive economic zone (EEZ) is a stretch of ocean—usually up to 200 nautical miles from a country's coast—where that country has the primary right to explore, extract and manage natural resources such as fish, oil, gas and seabed minerals. For investors it matters because control of an EEZ determines who can develop offshore energy, mining, fishing or infrastructure projects, shaping revenue opportunities, licensing rules and geopolitical risk; think of it like a country’s private yard in which it decides what commercial activities are allowed.
directional drillingtechnical
Directional drilling is a method of guiding a drill to follow a specific path underground, rather than drilling straight down. This technique allows companies to reach oil and gas deposits that are not located directly beneath the surface, often avoiding obstacles or reaching multiple targets from a single surface point. For investors, it means more efficient resource extraction and potentially lower costs, which can impact the profitability of energy companies.
coiled tubingtechnical
Coiled tubing is a long, flexible length of pipe wound on a large reel that can be unspooled and pushed into oil and gas wells to clean, repair, measure, or perform light drilling without removing the main wellhead. Think of it like a continuous garden hose or fishing line that lets technicians reach deep down quickly and repeatedly. Investors care because coiled tubing services affect production uptime, repair costs and service-company revenue; efficient use can lower operating expenses and speed returns on well investments.
