General description of business.?Halliburton Companys predecessor was established
in 1919 and incorporated?under the laws of the State of Delaware in 1924. Halliburton
Company provides a variety of services, products, maintenance, engineering and
construction to energy, industrial and governmental customers.
Our five?business?segments?are?organized?around?how we manage the business:?
Drilling and Formation Evaluation,?Fluids,?Production Optimization, Landmark
and Other Energy Services and the Engineering and?Construction?Group. We sometimes?
refer to the?combination?of Drilling and?Formation?Evaluation, Fluids,?Production
Optimization and Landmark and Other Energy Services segments as?our?Energy?Services?
Group.
Business?strategy.?Our?business?strategy?is?to?maintain?global leadership?in?
providing?energy?services and?products?and?engineering?and construction?services.?
We provide these services and products to our customers as discrete?services
and products and,?when?combined with project?management services, as integrated
solutions.?
Markets and competition.?We are one of the worlds largest diversified energy
services and engineering and construction services companies.?We believe that
our future?success?will?depend in large part upon our ability to offer a wide
array of services and products on a global scale. 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);
-?service quality;
-?product quality;
-?warranty; and
-?technical proficiency.
While we provide a wide range of?discrete?services?and?products,?a number of
customers?have?indicated a preference?for?integrated?services and solutions.?
In the case of the Energy?Services Group,?integrated?services and solutions?
relate to all phases of?exploration,?development?and production of oil,?natural
gas and natural gas liquids.?In the case of the?Engineering?and Construction?
Group,?integrated?services and solutions relate to all phases of design,?procurement,?
construction,?project?management?and?maintenance?of facilities primarily for
energy and government customers.
