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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InIn a move reflecting the accelerated investment in the Kingdom's alternative energy resources, Saudi Aramco has awarded a multi-year contract to Halliburton for integrated stimulation and completion services for unconventional gas. This agreement is a core component of a multi-billion dollar initiative aimed at supporting unconventional gas programs across Saudi Arabia. Under the contract, Halliburton will deploy an integrated intelligent fracturing platform in the strategic Jafurah Basin to enhance operational efficiency.
This collaboration comes as major energy service peers like SLB and Baker Hughes compete for market share in Saudi Arabia, with SLB recently reporting strong international revenue growth driven by Middle Eastern activity. Per market data, this contract solidifies Halliburton's position as a key technical partner in the Jafurah Basin, which is the Kingdom's largest unconventional gas field with estimated reserves of 200 trillion cubic feet of raw gas according to previous Aramco disclosures.
Regarding market performance, Saudi Aramco (2222.SR) stood at 26.64 SAR (close July 15, 2026), while Halliburton (HAL) shares closed at 35.42 USD (close July 14, 2026). Investors are closely monitoring the impact of these long-term contracts on service provider cash flows, while also eyeing the upcoming US EIA Weekly Petroleum Report as a catalyst for broader energy sector sentiment.