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Interview gallery: Halliburton’s Ahmed Kenawi
Ahmed Kenawi, MENA VP at Halliburton, talks about how the world's second largest oilfield services company is banking on its core strengths and R&D-fuelled offering to stay competitive.
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Halliburton is present today in 70 countries and employs approximately 50,000 people, about 9,000 of them in the MENA region.
Kenawi says, “We have responded to pressure by focussing on cost reductions, optimisation and efficiency. These actions have helped mitigate the bottom line impact.”
Halliburton paid $3.5bn to Baker Hughes in termination fees after the deal did not progress.
Kenawi, who has been with Halliburton for 22 years, says that international energy service providers doing business in the region have been feeling a greater pinch of the downturn due to the long-term nature of the contracts.
To tackling the prevailing harsh economic conditions, Halliburton has been banking on the company’s core strength including mature fields, unconventional, and deepwater projects.