

FOR IMMEDIATE RELEASE     Contact-Guy Marcus      Barbara Johnson
July 25, 1997             VP-Inv. Rel.            Media Rel.
                          214/978-2691            713/676-8097

BROWN & ROOT-MURPHY AWARDED PIPELINE CONSTRUCTION
CONTRACTS IN BOLIVIA AND BRAZIL

DALLAS,  Texas -- Brown &  Root-Murphy  LLC, a joint  venture  equally  owned by
Halliburton  Company's (NYSE:HAL) Brown & Root Energy Services business unit and
Murphy Bros.  Inc.'s Murphy Bros.  International,  has been awarded two pipeline
construction  contracts  in  consortium  with  local  partners  as  part  of the
Bolivia-Brazil Gas Pipeline Project.  The two contracts for Petrobras,  Brazil's
state-owned  oil and gas  company,  are  valued  at about $90  million  and $110
million apiece.

     The contract for Bolivia  consists of the  construction  of 557  kilometers
(km) of 32-inch diameter pipeline from Rio Grande, Bolivia to the Bolivia-Brazil
border, near Puerto Aguirre,  Bolivia. The consortium BRM-CPB, a venture between
Brown & Root-  Murphy  (70%) and  Consorcio  Petrolero  Boliviano  of Santa Cruz
Bolivia (30%), is scheduled to complete the project by December 1998.

     The  contract  for Brazil  consists  of the  engineering,  design,  project
management, procurement and construction of 522 km of 32- inch diameter pipeline
from the  Bolivia-Brazil  border near  Corumba,  to a point  southeast  of Campo
Grande, Brazil. The consortium Camargo Correa-Brown & Root-Murphy, equally owned
by Brown & Root-Murphy and Camargo Correa of Sao Paulo,  Brazil, is scheduled to
complete the project by January 1999.

     "We are extremely  pleased to be involved in  constructing  1,079 km out of
the total 1,815 km of Phase I for  Bolivia-Brazil  Pipeline  Project," said Dave
Lesar,   president  and  chief   operation   officer  of  Halliburton   Company.
"Acquisition  of these  contracts  establishes  Brown &  Root-Murphy  as a major
player in the international pipeline construction arena."

     In early 1996,  Brown & Root Energy  Services  combined  its  international
project  management  and  engineering  skills  with  Murphy's  onshore  pipeline
construction  expertise  to  seek  international  projects  as a  joint  venture
activity.

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     Murphy   International,   Inc.,   is  an  affiliate  of  the  East  Moline,
Illinois-based  Murphy  Bros.,  Inc.,  one of North  America's  largest  onshore
pipeline  contractors  and owners of a large fleet of specialized  land pipeline
equipment.

     Halliburton  Company  is one  of the  world's  largest  diversified  energy
services, engineering, maintenance, and construction companies. Founded in 1919,
Halliburton  provides a broad range of energy services and products,  industrial
and marine engineering and construction services.

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