Halliburton's positive perspective on Polish and European shales

In his CharlesMaxwell-quoted statement, Rob Hull - Engineering Manager at Halliburton, the world's second largest service company – envisioned a positive perspective on European shale project.

Based on Poland's experience, Rob Hull noted that correct fracturing fluid systems and a good understanding of shale properties are the key success factors. This must go hand-in-hand with proper data acquisition, processing and interpretation systems. According to Hull, learning and patience are the fundamental characteristics required to succeed within the European shale gas industry.

Poland, Turkey, Ukraine and the United Kingdom have been mentioned as having the most potential with Poland being by far the most advanced in Europe with getting results.

Whatever the estimates of shale gas resources and of their accessibility are, international service companies like their upstream partners face the challenge of big drops in oil price over the past six months. Cuts in employment are the key approach o keep projects viable and retain corporate profits.

Last week Halliburton announced job reduction in the order of 1000 employees (out of its workforce of 80,000 in 80+ countries). Halliburton's decision followed the announcement by Schlumberger Ltd, the world's largest service company, to launch the process of reducing the employment and operating costs that are associated with maintenance of its fleet of offshore drilling platforms.

Employment cuts in the two companies are not expected to have a significant effect on Poland's employment market, especially considering their limited involvement in operations across Poland. Nevertheless, a slowdown in exploration and appraisal operations in Poland following the fall of oil prices would have far reaching consequences.

Polish labour market apart, the slowdown in activity worldwide makes it more difficult to find a job on the global market. This, combined with the growing number of graduates from upstream-related studies, may have an effect on employment prospects of students graduating from Polish universities, including in particular the AGH University of Science and Technology.


source: www.ceeshalegas.com, Halliburton, Schlumberger ltd.


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