Halliburton, Petronas Tie Up to Explore Shale Resources

Halliburton is setting up a shale technical center in Kuala Lumpur in cooperation with Petronas to extend the U.S. company's capability in the region, Reuters reported.

Halliburton wants to extend abroad its leadership in shale drilling in North America, where growth is slowing down.

"Expanding into the Asia Pacific market and providing the same quality level of service we already provide in North America fits into that strategy," said Jeff Miller, Halliburton`s senior vice president of global business development and marketing.

China and India were early participants in the U.S. State Department's Global Shale Gas Initiative, while Australia, Indonesia and Malaysia are expected to develop shale gas in the years ahead.