A MAJOR energy service company that moved much of its regional operations from Trinidad and Tobago to Guyana is reporting high profit.
The company’s 2024 second-quarter profit rose by three per cent, to US $3.4 billion, thanks to increased activity in Guyana and other international operations.
Halliburton, an exploration and mining operation, is a major ExxonMobil contractor in Guyana.
The American-based service provider had a longstanding base in T&T but whittled down its presence amid the continuing decline in upstream drilling activity.
Other service operators, including Schlumberger and Baker Hughes, also moved away from T&T.
Halliburton’s CEO Jeff Miller said the company’s returns and cash flow are strong, adding that there was strong demand and high drilling levels in international markets.
The company has broad-ranged activities in Guyana, including directional drilling, surface data logging, drill bits, drilling fluids, cementing, completion services, reservoir evaluation, coil tubing, stimulation services, and landmark software activities.
The company was formed in 1919 and has more than 60,000 workers in some 70 countries.
