Brown & Root Explores Selling Some Assets
DALLAS — Halliburton Co. said its subsidiary, Brown & Root Inc., is exploring with a potential buyer the sale of a major portion of its marine construction assets.
The company did not identify the possible buyer. It said the assets consist primarily of offshore construction vessels in the United States, Middle East and Far East.
Assets that would not be included in a sale include Brown & Root’s interests in European Marine Contractors Ltd., Rockwater Offshore Contractors, Highlands Fabricators and its fabrication operations in the United States and Indonesia.
The announcement said there was no assurance the efforts would result in a sale.
Halliburton said the sale plan was part of Brown & Root’s strategy to emphasize engineering, construction, project management and maintenance in markets offering the most attractive growth opportunities.
Halliburton is one of the world’s largest diversified oil field services, engineering and construction companies.
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