Houston, Texas-based Halliburton Company (HAL), one of the largest oilfield service providers in the world, has bagged a two-year contract extension from StatoilHydro (STO). The estimated value of the contract extension is approximately $450 million.   Halliburton had been awarded the first contract in 2006. The initial contract was for a two-year term with further extension options of three two-year periods.   Under the terms of the extended contract, Halliburton will provide fluids systems for multiple fields on the Norwegian Continental Shelf. This includes cementing services for 20 rigs and completion fluids for 16 rigs.   The contract will involve services from both of Halliburton’s business segments: Completion and Production as well as Drilling and Evaluation.   Halliburton is among the top three players in each of the product/service categories it offers and is present in all the major hydrocarbon-producing regions of the world.   We view ...