This essay Name of the firm: Halliburton has a total of 615 words and 8 pages.
Name of the firm: Halliburton
Products and Services: serving upstream Oil and gas industry
managing geological data
drilling and formulation evaluation
well construction and completion
optimizing production )
Revenue: 38% internationally and 62% north America
The company operates in two segments:
Completion and production
Drilling and evaluation
Halliburton has provided its facilities to American, other governments, and independent oil and gas companies.
Halliburton company was founded in 1919.
The company headquarters are in Texas.
According to survey, world’s Top 10 biggest oilfield service companies are:
1. Schlumberger 2. Halliburton 3. Saipem 4. Transocean 5. Baker Hughes 6. Fluor 7. Weatherford International 8. BJ Services Company 9. Petrofac 10. China Oilfield Services Ltd.
Major Competitors of Halliburton are:
Ethical Issues (Environmental Hazards)
In 2002, there were many complaints regarding chemicals being emitted from Halliburton’s Harris County, Texas facility.
In June 2006, Halliburton’s Farmington, Mexico facility created a toxic cloud.
Oil spills in Timor Sea off Australia in August 2009.
Oil spills in Gulf of Mexico in April 2010
Source: Toxics Release Inventory Report
Halliburton facility in Texas has immediately took action and controlled the situation with regard to chemicals being emitted.
Residential and nearby houses were evacuated immediately as a result of the toxic cloud being created by Farmington facility.
Timor sea off Australia was cleaned by the company by the end of 2009. This took the company deficits of millions of dollars.
The oil spills in the Gulf of Mexico in April 2010 is still being a hot issue in the international media. The issue is still being pursued by the company.
There is a crucial increase in the safety standards in Halliburton, these are:
Lost Time Incidents (LTI)
Total recordable Incident Rates (TRIR)
Vehicle Recordable Incident Rates (VRIR)
Occupational Safety and Health Administration (OSHA) and Department of Transportation (DOT), both US based organizations have given positive ratings to Halliburton regarding its health and safety issues.
10/2009, World Oil Awards
Real-Time Solutions for Remotely Operating Offshore Rigs
05/2009, Hart's E&P Meritorious Engineering Achievement Awards
Delta Stim Completion Service
Pore Pressure and Geomechanics Solution
Acid-on-the-Fly (AOF) Blending System
10/2008, World Oil Awards
Open Works Project Data Management System
GeoSignal Measurement Service
Omega Frac Fracturing Service
02/2009, International Society for Rock Mechanics (ISRM) – Rocha Medal for the Best PhD Dissertation
Dr. Gang Li, Halliburton Software and Asset Solutions
01/2009, Service Capability and Performance (SCP) Standards Certification
Landmark North American Support Operation (11th consecutive year)
Landmark Global Support Operation (7th consecutive year)
08/2008, Offshore Northern Seas (ONS) – Roger Vielvoye Memorial Award
Halliburton Norway Communications
The company should try to focus more on securing it’s projects from external stakeholders to use utmost care in reducing the environmental pollutions
Technology should be optimized in different facilities of the company to reduce and avoid any future accidents.
Proper insurance should be pursued for the employees and different key and crucial facilities
The company ought to focus more on representing its image to the public and to utmost minimize or abolish false rumors and radical conspiracy stories that affect it.
Although the company is successful and well-known around the world, environmental issues and controversies always surrounds the company.
The company should enhance its productivity with minimum number of environmental accidents and environmental pollution cases ( which are likely to be caused by it’s competitors ).
The company has good political and corporate support, this could be utilized further to inculcate ethical practices among its different facilities.