Awarded Shell Contract For Transportation And Installation Of Coulomb Project Steel Tube Umbilicals

February 15, 2002

HOUSTON, Texas - Halliburton Subsea, a business unit of Halliburton's (NYSE:HAL) Energy Services Group, has been awarded a contract for the transportation and installation of a steel tube umbilical for Shell’s Coulomb project in the Mississippi Canyon in the U.S. Gulf of Mexico.

The contract will be performed in conjunction with the umbilical works previously awarded to Halliburton Subsea by Shell for its Nakika Field Development. The twenty-seven mile steel tube umbilical will be loaded out in a single length from Nexan’s manufacturing facility in Norway onto Halliburton Subsea’s world leading deepwater umbilical installation vessel, MSV Toisa Perseus, at the same time as the nine Nakika umbilicals are being loaded.

Installation of more than seventy-five miles of steel tube umbilicals on the Nakika and Coulomb projects in a single vessel campaign will make this the most complex and challenging work scope ever undertaken in ultra deep water (up to 7600ft).

"Award of this additional contract demonstrates our unrivalled experience and capability for the performance of large installation contracts in ultra deepwater," said Edgar Ortiz, president and chief executive officer of Halliburton's Energy Services Group. "I am delighted that following the installation of the Malampaya steel tube umbilicals, and the successful start to the Nakika project, we continue to build a strong working relationship with Shell and its US deepwater umbilical group."

Commenting on the award, Dick Martin, General Manager for Halliburton Subsea's Gulf of Mexico operation, said, "As the world's leading deepwater umbilical installation contractor, we are absolutely thrilled with the award of the Coulomb contract. It represents Halliburton Subsea's third U.S. Gulf of Mexico deepwater construction contract in recent months, and provides our Houston based operations group with an excellent opportunity to secure future US based deepwater projects."

Halliburton, founded in 1919, is one of the world's largest providers of products and services to the petroleum and energy industries. The company serves its customers with a broad range of products and services through its Energy Services Group and Engineering and Construction Group business segments.

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