Halliburton (NYSE: HAL) announced today the opening of its new Unconventional and Reservoir Productivity Technology Center at King Fahd University of Petroleum and Minerals (KFUPM) located in Dhahran Techno-Valley. The new center enables Halliburton to provide state-of-the-art research and development solutions for conventional and unconventional reservoirs addressing challenges both in the Kingdom and regionally.

The center provides a base to develop strong relationships with local universities like KFUPM to develop technology which is expected to lead to employment and training opportunities for Saudi technicians and university graduates.

The Halliburton Dhahran Unconventional and Reservoir Productivity Technology Center will support the development of unconventional reservoir productivity practices in the Kingdom. Collaboration between Saudi Aramco and Halliburton research and development scientists, together with the engagement of KFUPM researchers and Halliburton’s diverse unconventional expertise, will allow solutions to be developed locally and quickly implemented in the Kingdom’s fields.

Halliburton’s long history in the Kingdom and the establishment of this multi-million dollar technology center demonstrates Halliburton’s continued commitment to investment in the Kingdom and to the delivery of the latest technology and expertise. The center is expected to provide technology and solutions to existing and future partners in the region and around the globe, contributing to the development of local workforces and national economies.

Source: Business Wire