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6 HALLIBURTON // 2013 ANNUAL REPORT
Halliburton’s deepwater growth rate was more than double
thatof the deepwater market over the past three years.
We have invested aggressively to build our global infrastructure,
technologies and capabilities, transforming the company from
an emerging alternative into a compelling choice for customers
seeking the technology and execution certainty we are known for.
The results we delivered over the past three years demonstrate the
strength of our strategy to tap the large and growing deepwater
market. We substantially exceeded our commitment to outgrow
the market by at least 25 percent. We achieved revenue growth of
31 percent per year in a market that grew anaverage of 13 percent
annually over the same period. More importantly, we built a solid
foundation for the future, winning major contracts, strengthening
key customer relationships and greatly increasing our
competitiveness across the globe.
Infrastructure and Footprint
With more than $1 billion of infrastructure investments, we
expanded our operations beyond the “golden triangle” – Gulf of
Mexico, West Africa and Brazil – into 30 countries, establishing
apresence in all of the world’s deepwater markets. In addition
toadding more than 50 operations facilities, our investments
strengthened our capabilities to develop advanced technologies
that provide a competitive advantage in the challenging deepwater
arena. Our new technology development facilities include an
acoustic center where we are accelerating the development of
next-generation sonic tools, a perforating flow lab where we can
simulate the eect of perforation under downhole conditions to
reduce uncertainty, and a technology center in Brazil, the world’s
largest deepwater market.
Growth Through Technology
Adding to our broad suite of technologies to service the deepwater
market, we have commercialized approximately 30impactful
products and services over the past three years. Inaddition to
technologies that build on our leadership in the finding and
completing phases of operations, we have launched innovations
that strengthen our position in drilling and evaluation. Our focus
onpragmatic technologies that fill identified needs has resulted
instrong market adoption. Wireline and sampling jobs are up
260percent, use of our Dynalink wireless testing system has grown
185 percent and our ESTMZ (Enhanced Single-Trip Multizone)
completion system has captured 70 percent of the lower tertiary
market in the Gulf of Mexico. We expect these high-end, high-
margin technologies to be an ongoing driver of growth.
“Our vastly expanded footprint and technological capabilities have
madeHalliburton competitive in deepwater markets around the world.
With the majority of our infrastructure investment behind us, our
growing deepwater business will improve cost absorption and drive
margins higher.”
TIMOTHY J. PROBERT
Strategic Advisor to the Chief Executive Ocer