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Cluff Natural Resources extends Halliburton arrangement

The arrangement secures Halliburton’s support for CLNR’s Southern North Sea gas portfolio, as well as its UCG assets.
Cluff Natural Resources extends Halliburton arrangement
A separate agreement will be written up in relation to specific services.

Cluff Natural Resources (LON:CLNR) has told investors that it has extended its arrangement with US oil and gas services group Halliburton for a further two year.

The arrangement secures Halliburton’s support for CLNR’s Southern North Sea gas portfolio, which comprises five licences, as well as its Underground Coal Gasification (UCG) assets.

It shows that Halliburton has a desire to establish areas of collaboration, according to CLNR, and the company highlights that working with Halliburton helps it accelerate ‘the development of knowledge’ and adds capabilities.

It is expected that at some point in the future a separate agreement will be written up in relation to specific services to be provided by Halliburton.

Algy Cluff, CLNR chief executive, said: “We are delighted to be announcing the extension of our MOU with Halliburton for our UK gas and UCG assets and are excited about the prospect of continuing to develop our strategic relationship.

“Halliburton is one of the world's largest providers of products and services to the energy industry and its expertise and capabilities offer our company the opportunity to accelerate the development of our assets.

“The extension for a further two years reflects the strength of the relationship that has been built in the last year and the commitment to develop this strategic relationship further."

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