

FOR IMMEDIATE RELEASE           Contact:  Julia Humphreys
July 7, 1998                              Public Relations
                                          Halliburton Company
                                          (713) 676-3875


                   HALLIBURTON AWARDED WELL SERVICES CONTRACT
                          BY PHILLIPS PETROLEUM NORWAY

DALLAS, Texas -- Halliburton AS, the Norwegian division of Halliburton Company's
(NYSE:  HAL)  Halliburton  Energy  Services  business  unit,  has been awarded a
contract to provide  Phillips  Petroleum Norway with zonal isolation and pumping
services  for the  entire  Ekofisk  field  area in the North  Sea.  The  initial
contract is for a five-year period and includes an option for an additional five
years.

         The work will be managed from Halliburton's Tananger, Norway office and
will involve approximately 50 employees.  Engineering,  procurement of materials
and equipment,  offshore  operations and laboratory services are all included in
the agreement. The purchase of goods and services from local Norwegian companies
will account for roughly 60% of the value of the contract.

         "Halliburton  is  dedicated  to  technological  leadership,  as well as
operational  excellence,  and I believe this focus is  reflected by  Halliburton
being awarded this  contract,"  said Dave Lesar,  president and chief  operating
officer,   Halliburton  Company.  "During  our  20-year  history  with  Phillips
Petroleum  Norway, we have developed a strong alliance.  Halliburton  values its
relationship  with  Phillips,  and we look  forward to  working  on the  Ekofisk
project."

         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.  Halliburton Energy Services
provides   products,   services  and  integrated   solutions  for  oil  and  gas
exploration,  development  and  production.  Halliburton AS currently  employs a
staff of more  than  1,250 in  Norway.  The  company  has been  involved  in the
Norwegian petroleum industry for more than 25 years.

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