Halliburton 2009 Annual Report Download - page 20

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1
PART I
Item 1. Business.
General description of business
Halliburton Company’s predecessor was established in 1919 and incorporated under the laws of
the State of Delaware in 1924. We provide a variety of services and products to customers in the energy
industry related to the exploration, development, and production of oil and natural gas. We serve major,
national, and independent oil and natural gas companies throughout the world and operate under two
divisions, which form the basis for the two operating segments we report: the Completion and Production
segment and the Drilling and Evaluation segment. See Note 2 to the consolidated financial statements for
further financial information related to each of our business segments and a description of the services and
products provided by each segment.
Business strategy
Our business strategy is to secure a distinct and sustainable competitive position as an oilfield
service company by delivering products and services to our customers that maximize their production and
recovery and realize proven reserves from difficult environments. Our objectives are to:
- create a balanced portfolio of products and services supported by global infrastructure
and anchored by technology innovation with a well-integrated digital strategy to further
differentiate our company;
- reach a distinguished level of operational excellence that reduces costs and creates real
value from everything we do;
- preserve a dynamic workforce by being a preferred employer to attract, develop, and
retain the best global talent; and
- uphold the ethical and business standards of the company and maintain the highest
standards of health, safety, and environmental performance.
Markets and competition
We are one of the world’s largest diversified energy services companies. Our services and
products are sold in highly competitive markets throughout the world. Competitive factors impacting sales
of our services and products include:
- price;
- service delivery (including the ability to deliver services and products on an “as needed,
where needed” basis);
- health, safety, and environmental standards and practices;
- service quality;
- global talent retention;
- understanding of the geological characteristics of the hydrocarbon reservoir;
- product quality;
- warranty; and
- technical proficiency.