In an exclusive interview with Oil & Gas Middle East, Lance Loeffler, SVP of Halliburton’s MENA region, discusses expansion plans and how the company is working closely with the NOCs as they ramp up production.
Oil & Gas Middle East: Halliburton has enjoyed a long presence in the Middle East. How are you planning on expanding this as the company’s head of MENA region?
Loeffler: Throughout Halliburton’s history in the region, our portfolio has grown to address the entire lifecycle of the well, from reservoir interpretation and well construction to completion and production applications.
Our priorities for future activity growth are three-fold: First, we provide advanced technologies to collaborate and engineer solutions to maximise asset value for our customers. Second, we deliver superior service quality as we prioritise safety across our operations. Finally, we help our customers advance a sustainable future as a leader in innovation.
Oil & Gas Middle East: Can you discuss some major projects in the region, and what you have in the pipeline?
Loeffler: Given our customers’ future production goals across the region, we have a direct line of sight to substantial activity growth and a strong pipeline of projects. We continue to progress several major projects, including an integrated offshore drilling services project for six high-pressure, high-temperature exploration wells in the northern Arabian Gulf, as well as recent category management activity across several product service lines in the UAE. Halliburton also secured a major directional drilling contract in Qatar; preparation and mobilisation efforts are underway to start work in the first quarter of the next year.
Oil & Gas Middle East: How are you working with the region’s NOCs as they ramp up oil and gas production to address energy security?
Loeffler: Our Middle East customers and their production targets are a critical piece to address the world’s current and future energy demands. We work closely with our region’s customers to deliver the right tools and technologies to ensure that they meet those goals. We have seen significant success as we apply new technologies to get strong production from new and mature fields.
For example, earlier this year, we achieved a new world record for the longest well ever drilled at 50,000 feet measured depth for a customer in this region. This extended-reach well redefined what’s possible with advanced drilling technology. With these innovative products and services, we shorten time to first oil, increase production, and optimize value chain performance for our customers. Our collaborative approach, broad technology portfolio, local expertise, and reliable execution help our customers achieve their efficiency and production objectives.
Oil & Gas Middle East: Can you talk about Halliburton’s sustainability strategy?
Loeffler: Advancing a sustainable energy future is a strategic priority for us and our customers. With our global resources; strong engineering, scientific, and technical expertise; plus more than a century of experience, we can provide our customers with innovative and effective tools and services to minimize the environmental impact of their operations. Our technologies help our customers decarbonize their legacy production base, reduce water consumption, produce less waste, and enhance efficiencies to improve project economics.
At the same time, we can identify the emissions footprint of our critical products and services in the field. This data helps our product service lines better understand whether opportunities exist during technology development to reduce emissions and prioritize the opportunities for our customers’ benefit.
Oil & Gas Middle East: As the SVP of MENA region, what is your strategic vision for 2023?
Loeffler: Despite the near-term fear of a global economic slowdown, oil and gas remains a critical input to improve everyday life. Throughout the region, our customers’ production goals require significantly more activity and advanced technologies. Halliburton has more than 100 years of success providing innovative products and services that help our customers maximise their asset value. We’re in a great position to extend that success well into the future as we execute our plan to be the region’s service company of choice.
