U.S. oilfield major Halliburton opens new center in SingaporeSouce:Xinhua Publish By Thomas Whittle Updated 19/03/2013 6:05 am in World / no comments
SINGAPORE, March 18 — U.S. NYSE-listed energy products and services provider, Halliburton, opened a new completion tools manufacturing facility in Singapore, the company said on Monday.
The company said the new state-of-the-art facility includes more than 500,000 square feet (46,451 square meters) of manufacturing and administrative space. It also includes technology laboratories and test facilities for its completion tools business.
According to the company, the co-called Completion Tools, represents a product service line that “enables customers to economically and efficiently complete their wells by providing the design, selection and provision of equipment and services to optimize well production.”
Halliburton established its operation in the city-state in 1973, and its Completion Tools leadership team and global headquarters relocated from Houston, Texas, to Singapore in 2011.
The company did not reveal the whole investment of the new facility, but report by the local paper Straits Times said it will create around 800 jobs by year-end with positions as managers, engineers and skilled production craftsmen opening up.
At the opening event on Monday, Singapore’s Deputy Prime Minister Teo Chee Hean said oil and gas industry has grown rapidly over the last five years with a compound annual growth rate of 10 percent and currently employs over 8,500 persons in Singapore.
“Over the next three decades, global energy demand will increase by about 30 percent, driven by the rapid growth of emerging markets in Asia. There is also an increasing need for innovative technologies to unlock unconventional and deepwater reserves,” he added.
Founded in 1919 in the United States, Halliburton now employs more than 72,000 employees, representing 140 nationalities in approximately 80 countries.