Halliburton Company HAL has secured a long-term contract from Saudi Aramco to provide integrated stimulation and completion services for the Jafurah unconventional gas project in Saudi Arabia. The agreement strengthens the company's position in one of the world's largest unconventional gas developments while reinforcing its long-standing partnership with Aramco. However, the financial details of the multi-year contract are not yet disclosed.
Supporting One of the World's Largest Gas Developments
The Jafurah Basin is a cornerstone of Saudi Arabia's unconventional gas strategy. With estimated recoverable resources of 229 trillion cubic feet, it is regarded as the largest shale gas project outside the United States. Halliburton's latest award is part of a broader multibillion-dollar development program that aims to accelerate gas production and support Saudi Arabia's long-term energy goals. The contract also expands Halliburton's existing portfolio of work across the country's unconventional resource plays.
HAL’s Advanced Digital Technologies to Improve Efficiency
Beginning in the third quarter of 2026, Halliburton will deploy Saudi Arabia's first fully integrated intelligent fracturing platform. The company will utilize its OCTIV Auto Frac automation system alongside Sensori fracturing monitoring services to optimize stimulation performance in real time.
These digital solutions are designed to improve operational efficiency, enhance workflow predictability and support disciplined execution across multi-well development campaigns. By integrating automation and real-time monitoring, Halliburton aims to increase operational reliability while maximizing asset performance throughout the project.
Strengthening a Long-Standing Partnership
Halliburton has operated in Saudi Arabia for more than eight decades, making the latest contract another milestone in its relationship with Aramco. The company noted that the award reflects continued collaboration in advancing unconventional gas development and highlights its integrated service capabilities across drilling and completion operations in Saudi Arabia.
HAL Is Expanding Local Investment in Saudi Arabia
As development activity in the Jafurah Basin ramps up, Halliburton also plans to increase its investment in Saudi Arabia. The company intends to expand local manufacturing capabilities, strengthen its supply chain and invest in workforce development programs. These initiatives are expected to support larger-scale operations and help sustain high levels of performance as unconventional gas activity accelerates across the region.
Halliburton's Saudi Growth Outlook
Halliburton's latest contract reinforces its leadership in unconventional gas services and expands its role in one of the world's most significant shale gas developments. By combining advanced automation technologies with increased local investment, the company is well positioned to support Aramco's ambitious gas expansion plans while strengthening its long-term growth opportunities in the Middle East.
HAL’s Zacks Rank & Other Key Picks
Houston, TX-based Halliburton is one of the largest oilfield service providers in the world, offering a variety of equipment, maintenance, and engineering and construction services to the energy, industrial and government sectors. Currently, HAL carries a Zacks Rank #2 (Buy).
Investors interested in the energy sector may consider some other top-ranked stocks like Suncor Energy Inc. SU, Imperial Oil Limited IMO and Par Pacific Holdings, Inc. PARR, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Alberta-based Suncor Energy is Canada's premier integrated energy company. The company's operations include oil sands development and upgrading, conventional and offshore crude oil and gas production, petroleum refining and product marketing. The Zacks Consensus Estimate for SU’s 2026 earnings indicates 114.2% year-over-year growth.
Calgary-based Imperial Oil Limited is one of the largest integrated oil companies of Canada, mainly engaged in oil and gas production, petroleum products refining and marketing and the chemical business. The Zacks Consensus Estimate for IMO’s 2026 earnings indicates 69.2% year-over-year growth.
Houston, TX-based Par Pacific Holdings is a growth-oriented energy company supplying conventional and renewable fuels across the western United States. Its integrated platform sources crude, refines transportation fuels and distributes products. The Zacks Consensus Estimate for PARR’s 2026 revenues indicates 123.8% year-over-year growth.
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