[stock-market-ticker symbols="AAPL;MSFT;GOOG;HPQ;^SPX;^DJI;LSE:BAG" stockExchange="NYSENasdaq" width="100%" palette="financial-light"]

  • Loading stock data...

March 3, 2024

Halliburton to establish drilling tool calibration facility at Hamriyah Free Zone

The Hamriyah Free Zone Authority (HFZA) in Sharjah has entered into a strategic agreement with Halliburton, one of the world’s leading providers of products and services to the energy industry.

Under the agreement, Halliburton will expand its footprint within the UAE by establishing a cutting-edge facility for calibrating drilling tools used in the oil industry. The state-of-the-art facility is set to occupy more than one million square feet within the HFZ and promises to be a game-changer in the sector.

The new facility’s official announcement was made following the agreement’s signing by Sheikh Khaled bin Abdullah Al Qasimi, Chairman for Sharjah Ports, Customs and Free Zones Authority, and Mr. Lance Loeffler, Halliburton’s MENA Region Senior Vice President, in the presence of Mr. Saud Salim Al Mazrouei, Director of the HFZA, senior officials, and executives from both entities.

Halliburton boasts an impressive track record in the UAE, where it has been operating for nearly five decades. With a presence in 70 countries worldwide, the company is committed to expanding its operations within the UAE and the broader region.

Through its strategic presence in the HFZA, Halliburton looks forward to achieving rewarding returns from its investments in Sharjah, which is renowned for its global competitiveness and has solidified its stature as a preferred regional investment and economic hub. Its decision also supports the HFZA’s vision and relentless efforts to strengthen Sharjah’s position as a premier destination for attracting investments in the industrial sector, particularly heavy industries.

Sheikh Khaled emphasized that Halliburton’s choice of the HFZ adds yet another quality investment to the free zone, which has been famous for its efficiency and excellence in providing state-of-the-art infrastructure tailored to heavy industries, a sector of paramount importance in the HFZA.

Sheikh Khaled also stressed that the free zone is committed to realizing the vision of H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, who is dedicated to fortifying efforts to support economic diversification initiatives, attracting high-quality investments, and solidifying the emirate’s standing.

Mr. Loeffler said that “We are excited to locate our new drilling tool calibration facility in the HFZ. The state-of-the-art facilities, advanced communications and transportation network, and logistics services allow this innovative facility to deliver leading technological solutions to our clients in the MENA region.”

Halliburton, a leading American multinational corporation established in 1919, has its headquarters in Houston, Texas, United States. It is renowned for conducting the largest fracking operations globally and boasts a diverse workforce comprising employees from 130 different nationalities.