U.S. energy services giant Halliburton will expand its corporate headquarters in Dubai to target the Eastern Hemisphere market, local newspaper Gulf News reported on Wednesday.
Halliburton expects some 80 contracts in oil drilling services will be awarded over the next three to four years in the Middle East, Africa, Asia-Pacific and Europe/Eurasia, each of which will be valued at 100 million U.S. dollars or higher, according to the report.
"More and more and year after year, our investments are heading towards the Eastern Hemisphere," the company's regional senior vice-president Ahmad Lofty was quoted as saying.
With the moving of its corporate headquarters from Houston to Dubai in March, Halliburton is having "an extreme focus on the Middle East" and determines to "take on a bigger scope for the Eastern Hemisphere," he said.
In addition, Halliburton is investing in a technology center in India and manufacturing facilities in Malaysia and Singapore to capitalize on the emerging opportunities, he added.
Being the world's No. 2 oilfield services provider, Halliburton has benefited from soaring oil prices, which have prompted oil companies to invest in once-unviable exploration techniques to secure more reserves of oil and gas.
Source: Xinhua
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