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Article: A new era for the global construction industry: Halliburton is coming to the UAE. The Gulf construction boom has entered a new phase.(THE LAST WORD)(Halliburton Co. moves to the United Arab Emirates)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- March 16, 2007
- Author:
CopyrightCOPYRIGHT 2007 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Some Americans may moan, but Halliburton's decision to move to the UAE makes sense and should be good for US business. At least $200,000 million worth of projects are under way or planned in the Gulf oil and gas sector. The Houston-based company's migration should help it get its share.
Within a generation, the GCC could be producing more than 30 million barrels a day (b/d) of oil compared with 16 million b/d last year. Three years after Matthew Simmons declared the twilight of Arabian oil was approaching, the region's energy industry has never looked livelier. The theory of peak Middle East oil has been buried beneath a heap of facts. Halliburton and the rest of ...