Halliburton Company (NYSE: HAL) has entered into a strategic collaboration agreement with PETRONAS Suriname Exploration & Production BV and Valaris to support development of PETRONAS Suriname's local assets, according to a company statement.

The collaboration brings together the three companies early in the development lifecycle to focus on project readiness, execution performance, and value creation. The agreement combines PETRONAS Suriname's basin expertise, Valaris' offshore drilling capability, and Halliburton's technology and execution capabilities.

"This collaboration reflects PETRONAS Suriname's confidence in our early engagement approach and the ability to establish execution readiness from the outset," said Shannon Slocum, chief operating officer at Halliburton.

The partnership integrates subsurface evaluation and field development planning with digital well construction to provide visibility into each stage of the development workflow. The approach links subsurface insight with well construction expertise throughout the development lifecycle.

The collaboration aims to maximize development and long-term value of the Suriname asset through early integration of the companies' respective capabilities. The agreement establishes alignment from planning through execution phases of the project.