Offshore staff

WASHINGTON, DC -- Halliburton has sold well measurement technology to Nigerian-based Drillog Petro-Dynamics Ltd. in Port Harcourt, Nigeria. The purchase was made with the help of a $13.1-million loan guarantee from Ex-Im Bank.

The logging while drilling (LWD) tools will be used to capture information about the drilling process, well geometry, and rock and fluid properties for international oil majors operating in Nigeria.

"This transaction supports US jobs and also equips Drillog Petro-Dynamics to be the first Nigerian local service company to offer these advanced drilling services to oil majors," says James H. Lambright, Ex-Im Bank chairman and president. "We believe African markets offer great potential for American exporters, and our financing support can help make more transactions like this a reality."

HSBC Bank PLC, London, is the guaranteed lender on the transaction. Nigeria's Diamond Bank is the borrower.

7/20/2007