Thursday, Aug 12, 2010

Halliburton (NYSE: HAL) recently performed the first-ever, shale hydraulic fracturing operation in Poland for PGNiG, the state-owned Polish oil and gas company. PGNiG contracted Halliburton to fracture the Markowola-1 exploratory well near Kozienice, Lublin province, to determine if the site contained commercial gas deposits. Increasing demand for natural gas in Poland has companies searching for domestic sources of unconventional gas deposits.

European countries have been struggling with declining production and increasing demand, according to published reports. The successful development of shale gas in Europe will provide energy and economic security for consumers.

?To have been chosen to provide the first fracture stimulation project in Poland was very exciting for us,? said Brady Murphy, vice president, Halliburton's Europe/West Africa Region. ?We can use the experience we have gained and the technology we have developed for use in the unconventional gas plays in the United States to support development of unconventional gas resources in this region.?

Halliburton has had a presence in Poland for more than 15 years and has been using fracture stimulation as way to increase hydrocarbon production for more than 60 years around the globe.

?No two shales are alike. So, the unique challenges posed in each type of unconventional gas reservoir require innovative people and integrated solutions. Halliburton has a global network of people and solutions and we understand how to systematically evaluate each unique project by tapping into our global infrastructure, processes and partnerships,? Murphy concluded.