Halliburton opens corporate headquarters in the United Arab Emirates

Halliburton Chairman, President and Chief Executive Officer Dave Lesar will move to Dubai to lead the company's efforts in growing Halliburton's business in the Eastern Hemisphere, an important market for the global oil and gas industry.

The opening of a headquarters in Dubai is the next step in a strategic plan announced in 2006 to focus on expanding its customer relations with national oil companies while concentrating more of the company's investments and resources in growing its business in the Eastern Hemisphere.

Based in Dubai, Lesar will work closely with Halliburton Eastern Hemisphere Senior Vice President Ahmed Lotfy to further strengthen the company's activities in the Middle East, Africa, Asia Pacific and Europe/Eurasia regions.

"As we invest more heavily in our Eastern Hemisphere presence, we will continue to build upon our leading position in the North American gas-focused market through our excellent mix of technology, reservoir knowledge and an experienced workforce," explains Lesar. "Our talented Western Hemisphere leadership will continue to grow this area of our business.

"The Eastern Hemisphere is a market that is more heavily weighted toward oil exploration and production opportunities and growing our business here will bring more balance to Halliburton's overall portfolio.

"This is already a strong market for Halliburton and we are excited to position the company in this key business area," he adds. "Halliburton continues to introduce innovative technologies, such as the Geo-Pilot® and EZ-PilotTM rotary steerable tools and GasPerm 1000 fracturing agent, among others, which help to enable our customers to recognize even greater returns on their drilling and production operations."

Halliburton's energy services operations have recently celebrated key contract wins, expanded service offerings across the divisions, and experienced increased utilization of integrated services and technologies throughout the Eastern Hemisphere. During 2006, more than 38 percent of Halliburton's US$13 billion oil field services revenue was generated from the Eastern Hemisphere. The area encompasses four regions with more than 16,000 employees, more than 80 percent of which are localized.

"I look forward to working with our exceptional employees across the Eastern Hemisphere as we move forward with the increased level of investment in this area of our business," says Lesar.