HOUSTON (dpa-AFX) - On Wednesday, Halliburton Company (HAL), an oil-based energy company, announced that it has secured a long-term agreement from Kuwait Oil Company or KOC to help in the development of Ahmadi Innovation Valley, a flagship initiative that boosts Kuwait's energy sector transformation.
Under the agreement, the research & development center of the company will support KOC to deliver solutions in brownfield, greenfield, and unconventional fields, address complexity in the operations, and build technology designed for Kuwait's challenges.
The award would help Halliburton establish itself in Kuwait, developing key technologies for executing projects and engineered solutions, with the application of data, scientific analysis, and artificial intelligence for the full field lifecycle.
In the pre-market activity on the NYSE, the shares for Halliburton were trading 0.86 percent higher at $33.49, after closing Tuesday's trading 5.47 percent down.
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