Halliburton Sees Offshore Spending Surge

Monday, April 22, 2019

Oilfield service provider Halliburton Co said on Monday it expects international offshore spending to rise 14 percent in 2019, double the estimates given by sector leader Schlumberger NV for international markets overall.

Schlumberger said last week that investments by oil producers in international markets will increase by 7 percent to 8 percent this year, citing a 20 percent increase last quarter in offshore rig counts and growing exploration activity in Latin America, Africa and Asia.

Halliburton's international revenue rose 11 percent in the first quarter, driven by gains in Mexico, Argentina and the Middle East. It also reiterated its expectation of high single-digit growth for 2019.


(Reporting by Debroop Roy and Arathy S Nair in Bengaluru; Editing by Maju Samuel)

Categories: Finance Industry News Activity

Related Stories

Saudi Aramco Suspends Another Shelf Drilling Jack-Up

TGS Secures OBN Survey in Europe

Sapura Scoops Petrobras Contract for Pan-Malaysia Offshore Services

Current News

ABL to Oversee Offshore Installation Works for Iberdrola’s German OW Farm

Glamox to Illuminate North Sea Oil and Gas Platforms

TotalEnergies Grows Its Orange Basin Appetite

US Oil Focused on Economics, not 'Drill, Baby, Drill' - Exxon Mobil Exec

Subscribe for OE Digital E‑News