Rhino Resources and Halliburton To Sign Contract For Integrated Deep-Water Services Offshore Namibia; No Financial Terms Disclosed
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Halliburton Company (NYSE:HAL) has been awarded a contract by Rhino Resources Ltd. for deep water integrated multi-well construction services offshore Namibia. The contract includes exploration and appraisal wells construction, testing services, and extending Halliburton's country operation facilities in Namibia. This collaboration aims to harness Namibia's oil and gas sector potential, with a focus on local economic benefits and innovation. Rhino Resources, holding operatorship of Block 2914A in the Orange Basin, has identified significant potential through a recent 3D seismic survey. The operational commencement is expected in Q4 2024.
April 24, 2024 | 12:02 pm
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Halliburton awarded a contract for deep water services in Namibia by Rhino Resources, focusing on local economic growth and sector innovation.
The contract with Rhino Resources for deep water services in Namibia represents a significant business development for Halliburton, likely to enhance its market position and revenue in the region. The focus on local economic benefits and sector innovation could positively impact Halliburton's brand and operational footprint, suggesting a positive short-term impact on its stock price.
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