2023 ANNUAL &
SUSTAINABILITY REPORT
Table of Contents
Company at a Glance .......................................................................................................................................3
Financial Highlights ...........................................................................................................................................4
Sustainability Highlights ...................................................................................................................................5
2023 in Review .................................................................................................................................................6
Our Core Values ...............................................................................................................................................8
Materiality-Based Approach .............................................................................................................................9
Sustainability Commitments ........................................................................................................................ 10
Engagement ...................................................................................................................................................11
Governance .................................................................................................................................................13
Corporate Governance ............................................................................................................................. 14
Enterprise Risk Management .................................................................................................................. 17
Ethics and Compliance ............................................................................................................................. 20
Anti-Bribery, Anti-Corruption, and Fair Competition ............................................................................... 21
Supply Chain Governance ........................................................................................................................ 22
Public Policy ...............................................................................................................................................25
Environmental ...........................................................................................................................................26
Emissions Reduction Progress ............................................................................................................... 27
The Future of Energy ................................................................................................................................29
Environmental Management ................................................................................................................... 36
Social ............................................................................................................................................................39
Health and Safety .....................................................................................................................................40
Our People ................................................................................................................................................44
Training and Development ....................................................................................................................... 49
Human Rights ...........................................................................................................................................52
Local Communities ...................................................................................................................................53
Appendix .....................................................................................................................................................58
Data Tables ................................................................................................................................................59
Awards and Recognition .......................................................................................................................... 71
About the Report ......................................................................................................................................72
Halliburton 2023 Annual & Sustainability Report
Introduction
2
COMPANY
AT A GLANCE
136
Nationalities
At December 31, 2023
47,885
Employees
70+
Countries
2 Countries
15,608 2023 Headcount
5 Major Technology Centers
North America
Europe / Africa / CIS
10 Countries
7,858 2023 Headcount
1 Major Technology Center
Latin America
Middle East / Asia
36 Countries
8,160 2023 Headcount
2 Major Technology Centers
27 Countries
16,259 2023 Headcount
4 Major Technology Centers
COMPANY AT A GLANCE
Halliburton 2023 Annual & Sustainability Report
Introduction
3
FINANCIAL HIGHLIGHTS
Millions of U.S. Dollars (USD) and Shares, Except Per Share Data
Revenue
Total Operating Expenses
Operating Income
Income Before Taxes
Amounts Attributable to Company Shareholders:
Net Income Attributable to Company
Basic Income Per Share from Continuing Operations
Diluted Income Per Share from Continuing Operations
Cash Dividends Per Share
Basic Common Shares Outstanding
Diluted Common Shares Outstanding
Net Working Capital2
Total Assets
Total Debt
Total Shareholders' Equity
Cash Flows from Operating Activities
Capital Expenditures
Depreciation, Depletion, and Amortization
Total Capitalization3
Debt to Total Capitalization4
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
20211
15,295
13,495
1,800
1,252
1,457
1.63
1.63
0.18
892
892
5,637
22,321
9,138
6,728
1,911
799
904
15,866
58%
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
20221
20,297
17,590
2,707
2,110
1,572
1.74
1.73
0.48
904
908
5,607
23,255
7,928
7,977
2,242
1,011
940
15,905
50%
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
20231
23,018
18,935
4,083
3,363
2,638
2.93
2.92
0.64
899
902
5,935
24,683
7,636
9,433
3,458
1,379
998
17,069
45%
1. Reported results during these periods include impairments and other charges of no amounts recorded for the year ended December 31, 2023; $366 million for the year ended
December 31, 2022; and $12 million for the year ended December 31, 2021.
2. Net working capital is defined as total current assets less total current liabilities.
3. Total capitalization is defined as total debt plus total shareholders’ equity.
4. Debt to total capitalization is defined as the total debt divided by the sum of total debt plus total shareholders’ equity.
Geographic Revenue Diversity
Strong Free Cash Flow
Millions of Dollars
Adjusted Return on
Capital Employed
Europe/Africa/CIS
Middle East/Asia
$2,274
19%
12%
25%
$1,369
$1,431
14%
9%
Latin America
17%
North America
46%
2021
2022
2023
2021
2022
2023
Halliburton generated $2.3 billion
of free cash flow* in 2023,
demonstrating our ability to generate
strong free cash flow in different
business environments.
Excludes certain charges. Average capital
employed is a statistical mean of the combined
values of debt and shareholders’ equity for the
beginning and end of the period. Adjusted ROCE
is defined as adjusted operating profit, after-tax
divided by average capital employed.
*Management believes that the non-GAAP measure of free cash flow, defined as operating cash flows less capital expenditures, plus proceeds from sale of equipment, is an important
liquidity measure that is useful to investors and management for assessing the company’s ability to generate cash.
Halliburton 2023 Annual & Sustainability Report
Introduction
4
SUSTAINABILITY HIGHLIGHTS
ENVIRONMENTAL
GOVERNANCE
GOVERNANCE
0.02
Recordable
Environmental Incident
Rate (Incidents per
200,000 hours worked)
60,068
Total Energy Consumption
(Thousand gigajoules (GJ))
99%
Percentage of Suppliers
Assessed for Human
Rights Risks
60,107
Training Hours for COBC,
Anti-Corruption, and Enhanced
Procurement Fraud in Countries
Designated as High-Risk
0.2431 GHG
GHG Emissions Intensity
Scope 1 and 2 (MTCO2e/
operating hours)
93
CPA-Zicklin Index Score
SOCIAL
SOCIAL
SAFETY
SAFETY
91%
Overall Percentage of
Localized Workforce
19%
Female Diversity
in STEM Roles
0.150.15
2023
International
Association
of Drilling
Contractors
(IADC) industry
rate
0.070.07
Halliburton’s
2023 rate
0.510.51
2023
International
Association
of Drilling
Contractors
(IADC) industry
rate
0.250.25
Halliburton’s
2023 rate
Lost-Time Incident Rate
(Incidents per 200,000
hours worked)
Total Recordable Incident
Rate (Incidents per 200,000
hours worked)
$1.5
Billion (USD)
Charitable
Giving
0.10
Incidents per
Incidents per
million miles
million miles
traveled
traveled
Preventable Recordable Vehicle Incident Rate
Halliburton 2023 Annual & Sustainability Report
Introduction
5
2023 IN REVIEW
service lines. Our international operations today represent
just over half of our total business. Halliburton’s international
revenue grew 17% in 2023 and delivered improved margins
and higher returns throughout the year, despite our exit from
Russia in 2022.
Throughout the international markets in which we operate, we
deliver shareholder value through disciplined capital allocation,
which means we strategically deploy assets to markets
where customers recognize the value of our reliable execution
and collaboration. Our next-generation equipment delivers
leading-edge performance for our customers and structurally
improved returns for Halliburton.
Our 2023 results demonstrate the success of our profitable
international growth strategy. In the international markets in
which we operate, we expect higher international spending
for multiple years. To deliver strong shareholder returns
through this multi-year upcycle, we will execute on our
Chairman, President and CEO Jeff Miller
value proposition, deploy leading technologies, and exercise
disciplined capital allocation.
2023 was a great year for Halliburton and its shareholders.
The power of Halliburton’s strategy delivered some of the
best business performance we have seen in a decade.
We recorded revenue of $23 billion, operating income of
$4.1 billion, operating margin of 18%, and return on capital
employed of 19%. In addition, we generated $3.5 billion of
cash flow from operating activities and $2.3 billion of free cash
flow. Consistent with our shareholder returns framework, we
returned $1.4 billion to shareholders in the form of dividends
and stock repurchases and we retired approximately $300
million of debt.
We achieved these results through execution on Halliburton's
five key strategies — Deliver Profitable International Growth,
Maximize Value in North America, Accelerate Digital and
Automation, Improve Capital Efficiency, and Advance a
Sustainable Energy Future. By delivering on our value
proposition: to collaborate and engineer solutions to
maximize asset value for our customers, we deepened
our relationships with customers, improved profitability, and
delivered on our strategy. Our commitment to doing business
the REDWay: Responsibly, Ethically, and Diligently guided this
strategic execution and these results.
Deliver Profitable International Growth
Halliburton operates in over 70 countries around the world —
in both on- and off-shore markets, and across all major product
Maximize Value in North America
Halliburton is the only globally integrated service company
with the leading presence in North America, the world’s
largest oil field services market. Our leadership means we
have the resources to invest in next-generation technologies,
infrastructure to commercialize these technologies at scale,
and expertise to execute at the highest levels of efficiency.
Today, the North America market continues to evolve with
a growing segment of customers focused on productivity,
efficiency, and reserve recovery. This growing customer
segment employs long term development programs,
targets improved reservoir recovery through technology, and
minimizes operating cost through service efficiencies. We
expect Halliburton to extend its technology leadership, deliver
unmatched efficiency through our design innovations, and
execute on its strategy to maximize value in North America.
Accelerate Digital and Automation
Halliburton’s strategy to advance digital and automation has
transformed both our service delivery and our business
performance. Digital and automation lower our costs, improve
safety for our personnel, and lower our carbon footprint.
Today, that investment in digital and automation exists in our
product lines including innovations such as remote offshore
cementing jobs, automated directional drilling, and predictive
pump maintenance.
Halliburton 2023 Annual & Sustainability Report
Introduction
6
Halliburton’s service quality leadership and leading approach
to digital and automation strengthens our execution for
customers. To further advance our digital and automation
strategy, Halliburton has accelerated development and
deployment of new digital and automation technologies that
will benefit our business and that of our customers.
Improve Capital Efficiency
Capital efficiency improvement means we deploy innovative
solutions to do more with less. Our technology and
development pipeline focuses on technologies that structurally
improve our capital efficiency like our iCruise® intelligent
rotary steerable system and Zeus™ electric fracturing
fleets. These technologies require fewer spare parts, lower
maintenance expense, and structurally deliver higher returns
for shareholders.
Advance a Sustainable Energy Future
Access to secure and reliable energy remains fundamental
to economic and social development, and Halliburton is
committed to advancing a sustainable energy future. Our
approach to advancing this future aligns squarely with our core
competencies. We work to help our customers decarbonize
their operations. We advance a sustainable future through
operations directly adjacent to our core operations. Finally,
through Halliburton Labs, we collaborate with early-stage
companies to advance the future of energy.
Into the Future
We are grateful for our employees and the work they do each
Strategic Priorities
at a Glance
Deliver industry-leading returns
and strong free cash flow
Profitable
International
Growth
Maximizing Value
in North America
Digital
and Automation
Capital Efficiency
Sustainable
Energy Future
day. Together, we look forward to the opportunity to deliver
We are excited about 2024 and beyond. We remain focused
profitable international growth, maximize value in North
on delivering strong returns to our shareholders as we
America, develop and deploy digital and automation solutions,
execute on our value proposition — to collaborate and
increase capital efficiency, and advance a sustainable
engineer solutions to maximize asset value for our customers.
energy future.
Jeffrey A. Miller
Eric J. Carre
Lawrence J. Pope
Chairman of the Board, President
and Chief Executive Officer
Executive Vice President
and Chief Financial Officer
Jeffrey A. Miller
Eric J. Carre
Chairman of the Board, President
and Chief Executive Officer
Executive Vice President
and Chief Financial Officer
Executive Vice President
of Administration and
Chief Human Resources Officer
Lawrence J. Pope
Executive Vice President
of Administration and
Chief Human Resources Officer
Van H. Beckwith
Executive Vice President,
Secretary and Chief Legal Officer
Van H. Beckwith
Executive Vice President,
Halliburton 2023 Annual & Sustainability Report
Secretary and Chief Legal Officer
Mark J. Richard
President,
Western Hemisphere
Mark J. Richard
President,
Western Hemisphere
Shannon Slocum
President,
Eastern Hemisphere
Shannon Slocum
President,
Eastern Hemisphere
Introduction
7
OUR CORE VALUES
To learn about our mission, vision, values, and sustainability
guiding principles, visit the About Us page on our website.
Mission
Our mission is to achieve superior growth and returns for
our shareholders by delivering technology and services
that improve efficiency, increase recovery, and maximize
production for our customers.
Values
Our values guide everything we do, underpinning how we
relate to each other and everyone with whom we interact. Our
values are our corporate DNA, the foundation for how we
relate to each other and every individual and entity with whom
we interact. These are the principles that every Halliburton
employee is expected to use, live by, and demonstrate on a
daily basis.
Our Value Proposition:
We collaborate and engineer solutions to
maximize asset value for our customers.
Guiding Principles for Sustainability
Built on our values, the Halliburton Guiding Principles for
Sustainability provide the framework for our operations and
our future.
Field employees in Mexico on rig site
Halliburton 2023 Annual & Sustainability Report
Introduction
8
MATERIALITY-BASED APPROACH
Halliburton defines sustainability materiality based on structured dialogue with our stakeholders, consideration of the topics they find
important, and in concert with our existing commitments. We review our materiality assessment annually and it is approved by senior
management before it is used to define our sustainability priorities. Our 2023 matrix remains unchanged from 2022, and continues to
serve as a foundation for our sustainability strategy. The sustainability materiality mapping is presented in the following visual matrix.
WHS
CS
EM
TDR
DI
BED
FEP
CG
GHG
V
e
r
y
H
i
g
h
CM
SCHR
LRC
LEI
H
i
g
h
WTR
l
s
r
e
d
o
h
e
k
a
t
S
o
t
e
c
n
a
t
r
o
p
m
I
ERM
M
o
d
e
r
a
t
e
Impacts to Industry
Governance
Social
Environmental
FEP
Financial and Economic Performance
GHG
Greenhouse Gas Emissions
SCHR
Supply Chain Human Rights
BED
Board Experience and Diversity
CS
Cybersecurity
LRC
Legal and Regulatory Compliance
CG
EM
Corporate Governance, Business
Ethics, and Transparency
Energy Mix
WHS
Workplace Health and Safety
TDR
DI
CM
Talent Attraction, Development, and
Retention
LEI
Local Environmental Impact and Risk
Management
Diversity and Inclusion
WTR
Water Stewardship
Chemicals Management
ERM
Enterprise Risk Management
Dow Jones Sustainability Indices
2023 marks the third consecutive year Halliburton has been named to the Dow Jones Sustainability North America
Index. DJSI assesses the sustainability performance of companies using a transparent, rules-based process based on
the annual S&P Global Corporate Sustainability Assessment (CSA).
Among its industry peers, Halliburton ranked in the 99th percentile or higher for Transparency and Reporting; Innovation
Management; Resource Efficiency and Circularity; and Talent Attraction and Retention.
Halliburton 2023 Annual & Sustainability Report
Introduction
9
SUSTAINABILITY COMMITMENTS
Topics
Commitment
Material Issue
Metrics
■ Achieve a 40% reduction of Scope 1 and 2 emissions by 2035
■ Energy Mix
■ GHG Emissions
Climate Change
■ Partner with Tier 1 suppliers to track and reduce Scope 3
GHG emissions.
from 2018 baseline.
■ Greenhouse Gas Emissions
■ Establish and achieve activity-based waste-reduction targets in our
■ Chemicals Management
■ Waste Disposal
Environmental
Management
major facilities.
■ Create water-use improvement plans in our major facilities located
in water-stressed areas.
■ Water Stewardship
■ Water Consumption
■ Local Environmental Impact and
■ Spill Volume and Rate
Risk Management
Innovation
■ Lead the industry in innovation and conscientious stewardship of
■ Financial and Economic
■ Patents Granted
global resources.
Performance
■ Provide solutions that support decarbonizing our customers’
■ Energy Mix
production base.
■ Greenhouse Gas Emissions
■ Chemicals Management
■ R&D Spend
■ Financial Performance
Human Rights
■ Support universal human rights as defined by the United Nations
Universal Declaration of Human Rights through fair and ethical
employment practices and our Code of Business Conduct.
■ Supply Chain Human Rights
■ Supplier Human Rights
Assessments
■ Target outperforming total recordable incident rate and lost-time
■ Workplace Health and Safety
Occupational Safety
- Journey to ZERO
incident rate in the International Association of Drilling Contractors
sector benchmarking.
■ Achieve HSE training compliance >95%, driver competency
>95%, and 100% completion of our annual Journey to ZERO
strategic objectives.
■ Fatalities, Injuries, Safety
Incidents, and Rates
■ HSE Training Hours
■ HSE Training Compliance
■ Driver Competency
■ Have a skilled and committed workforce by listening and
■ Talent Attraction, Development,
■ Training Hours
Skilled and
Committed
Workforce
Diversity and
Inclusion
responding to our employees’ feedback and committing to an
engaged workforce that feels valued with the right support and
resources to be successful.
and Retention
■ Business Leadership
Development Program and
President’s Leadership
Excellence Program Attendees
■ New Hires (#, %)
■ Turnover Rates
■ Engagement Indices
■ Provide a diverse and inclusive environment that upholds our core
values of collaboration and respect, and provides all employees
opportunities for growth and development.
■ Streamline risk categories, risk identification, and risk management
to ensure alignment with Halliburton strategy and place a focus on
what matters most.
■ Board Experience and Diversity
■ Female % New Hire by Region
■ Diversity and Inclusion
■ Localized Workforce % by Region
■ Female Diversity
■ Board Diversity
■ % Female in STEM Roles
■ % Racial Diversity in STEM
Roles (U.S. only)
■ Corporate Governance, Business
■ Board Independence
Ethics, and Transparency
■ Workplace Health and Safety
■ Board Meeting Attendance
■ Risk Matrix
■ Security Assessments
Risk Management
■ Enhance cross-functional visibility to and collaboration among key
stakeholders throughout the organization to ensure consistency,
uniformity, and strategic approach to risk assessment,
identification, and mitigation.
■ Cybersecurity
■ Legal and Regulatory
Compliance
■ Local Environmental Impact and
Risk Management
■ Enterprise Risk Management
Ethical Operations
■ Conduct business with integrity, choosing the ethical course
of action when confronted with challenging circumstances,
promoting a speak-up culture free of retaliation, and treating our
employees and stakeholders honestly and fairly.
■ Corporate Governance, Business
Ethics, and Transparency
■ Local Ethics Officers and
Engagements/Trainings
■ Ethics Training
■ Code of Business Conduct
(COBC) Statistics
■ Cultivate a sustainable supply chain through the continuous
■ Supply Chain Human Rights
■ Tier 1 Suppliers (#, $)
Supplier Conduct
and Responsible
Procurement
improvement of internal processes, by performing proactive risk
assessments, and by working collaboratively with our diverse mix
of global and local suppliers.
■ Spend with Small and Female
Diverse Suppliers
■ % Spend with Local Suppliers
Community
Relationships
■ Enhance the social value of communities in which we live and
work through effective engagement and social investment.
■ Talent Attraction, Development,
■ Charitable Giving
and Retention
■ Local Communities
Halliburton 2023 Annual & Sustainability Report
Introduction
10
ENGAGEMENT
Halliburton's management and Board of Directors receive
a wide range of feedback about our business performance,
strategic priorities, and initiatives. We engaged in regular
discussions with our shareholders, customers, employees,
and others in 2023. The Halliburton website plays an important
role in our outreach efforts and transparency.
Shareholders
We engage in consistent, open dialogue with our
shareholders. In fall of 2023, our independent Directors
hosted off-season meetings to better understand our
shareholder priorities and concerns. We offered opportunities
for engagement to shareholders who represented
approximately 60% of our shares. Halliburton Directors and
management communicated with 20 shareholders who
represented approximately 55% of our shares and with the
two largest proxy advisors, Institutional Shareholder Services
Inc. and Glass Lewis. We hosted video-conferences and
in-person meetings that included engagements with either
Murry Gerber (Chair of the Compensation Committee) or
Robert Malone (Lead Independent Director) and Halliburton
senior management.
We made our refreshed shareholder presentation available
to the shareholders we offered to engage with even if they
could not attend one of our video calls or meetings. We also
offered to follow up to discuss any questions or concerns. Our
2023 updates to these materials highlight the most recent
available information with regard to topics like Board oversight
and engagement; executive compensation; our people; health,
safety, and the environment; and sustainable energy solutions.
We solicited additional shareholder feedback with our annual
and quarterly reporting cycles, earnings conference calls, and
investor meetings. To engage with analysts and institutional
investors, Halliburton's senior management and Investor
Relations team hosted regular meetings and conference
calls. As part of our ongoing cadence of shareholder outreach,
we participated in 16 sell-side conferences, one non-deal
roadshow, and 304 investor meetings in 2023. All of this
feedback was presented to and discussed among the full
Board of Directors for execution of its oversight responsibility.
Customers
Customer feedback plays an important role in Halliburton's
ability to make improvements to current solutions and to
align our research and development (R&D) investments with
customer needs and goals as we develop new products
and solutions. Halliburton's executive leadership, business
development team, and product lines conduct regular
customer engagement to develop and maintain in-depth
understanding of the strategies, priorities, and requirements
relevant to our customers. We gain a thorough understanding
of customers' short- and long-term efficiency, technology,
and sustainability goals through direct communication with
them. Our collaboration with our customers provide insights
into ways we can best develop and offer solutions that both
maximize asset value and aid efforts to further the future
of energy.
CEO Jeff Miller conducts site visit
Halliburton 2023 Annual & Sustainability Report
Introduction
11
Employees
Halliburton's Government Affairs program focuses on helping
government officials, policymakers, and local operations
management teams understand our technologies and
products. The program makes in-depth information about
our business available. It also facilitates collaboration with
them on issues our customers, employees, and other
stakeholders prioritize.
Government officials and policymakers contact us to learn
from our knowledge and experience about energy-related
topics. In recent years, these conversations have often
focused on our new technologies, electric fracturing, carbon
capture, and geothermal energy opportunities. At times, we
also assist foreign service offices, consulates, and embassies
around the world as a resource on questions about technology
and local content.
Local Communities and Non-Governmental
Organizations
Halliburton promotes the economic and social well-being
of the communities where we work. We meet with
non-governmental organizations, community groups,
and nonprofits to better understand their concerns and
requirements; engage in charitable giving to local community
organizations through corporate giving initiatives and
charitable foundations; and host volunteer opportunities
focused on education, health and safety, environmental
cleanup and awareness, and social services to give back to
our communities.
We promote a welcoming and inclusive work environment
in order to ensure the well-being of our employees and our
own continued success. To encourage an environment of
openness and teamwork across our global workforce, we
engage in activities and initiatives like town hall meetings,
Check-ins (our performance-management process),
workshops, employee resource groups, performance
feedback, and a biannual Employee Pulse Survey (EPS). These
activities and initiatives, which occur in local geographies or at
the global level for individual product service lines or functions,
help us strengthen a workplace culture in which Halliburton
employees feel their voices are heard.
Halliburton considers our biannual EPS an important
opportunity to hear from employees about what matters to
them. The input we receive helps us identify ways we can
improve our workplace for all employees. Our August 2023
EPS yielded a record-high response rate. Read more in the
Employee Pulse Survey section of this report.
Suppliers
Halliburton's ability to provide world-class service to our
customers is enabled in part by our cultivation of a resilient,
sustainable supply chain that creates value for Halliburton and
our customers. We engage with an array of suppliers, both
locally and globally, who share our commitment to integrity
and ethical business practices.
To ensure our ethical standards are upheld, we gather
feedback from and collaborate with our suppliers on matters
that include health and safety procedures, human rights
compliance, and environmental impact. Our sustainability
approach and sourcing platforms, meetings, workshops,
and training sessions help facilitate consistent, in-depth
engagement with suppliers.
Regulators
Halliburton is a global company, and our operations take place
in countries and jurisdictions that have varying regulatory
requirements. We remain actively engaged with the regulators
and agencies that create and enforce regulatory standards to
protect the environmental, social, and economic fabrics of the
countries where our operations take place.
Halliburton 2023 Annual & Sustainability Report
Introduction
12
GOVERNANCE
Good corporate governance builds trust with our shareholders, customers, and employees. Halliburton designed
its corporate governance structure to increase transparency and shape our approach to ethical business conduct.
Halliburton's Board of Directors oversees our work to establish governance structures, policies, and practices that
help foster accountability and reduce risk.
For more information about corporate governance at Halliburton and our Board of Directors — including roles
and responsibilities, committee structure, and individual Director qualifications — visit the Corporate Governance
page of the Halliburton website or our 2024 Proxy Statement.
GOVERNANCE
G1 CORPORATE
G4 ANTI-BRIBERY,
G2 ENTERPRISE RISK
AND FAIR COMPETITION G5 SUPPLY CHAIN
MANAGEMENT G3 ETHICS AND
GOVERNANCE G6 PUBLIC
ANTI-CORRUPTION,
COMPLIANCE
POLICY
Halliburton 2023 Annual & Sustainability Report
Governance
13
Halliburton's Board of Directors
G1
CORPORATE
GOVERNANCE
In addition to Halliburton's Articles of Incorporation and
By-laws, Halliburton's Board of Directors Corporate
Governance Guidelines provide governance structure for
our business. The Board reviews these guidelines on an
annual basis.
DEEP EXPERIENCE
Halliburton's Board of Directors oversees our long-term
strategy. Its Directors bring deep and diverse experience to
their roles from a variety of industries that include energy,
finance, science, technology, legal, human resources (HR),
and health, safety, and environment. The Board includes
current and former chief executive officers of public and
private companies and a former university president. The
Directors' diverse professional backgrounds include academia,
science, publicly and privately held businesses, government,
startup entrepreneurship, and governance.
Halliburton 2023 Annual & Sustainability Report
Governance
14
BOARD OF DIRECTORS
(1 - Audit Committee; 2 - Compensation Committee; 3 - Health, Safety and Environment Committee; 4 - Nominating and Corporate Governance Committee)
Abdulaziz F. Al
Khayyal (1, 3)
Former Director and Senior
Vice President of Industrial
Relations, Saudi Aramco
William E.
Albrecht (2, 3)
President, Moncrief
Energy, LLC
M. Katherine
Banks (3, 4)
Former President,
Texas A&M University
Alan M.
Bennett (1, 4)
Former President and
Chief Executive Officer,
H&R Block, Inc.
Milton
Carroll* (2, 4)
Former Executive
Chairman of the Board,
CenterPoint Energy, Inc.
Earl M.
Cummings (2, 3)
Managing Partner, MCM
Houston Properties, LLC
Murry S.
Gerber (1, 2)
Former Executive
Chairman of the Board,
EQT Corporation
Robert A.
Malone (2, 4)
Executive Chairman,
President and Chief
Executive Officer, First
Sonora Bancshares and the
First National Bank of Sonora
Jeffrey A.
Miller
Chairman of the Board,
President and Chief
Executive Officer,
Halliburton Company
Bhavesh V.
Patel (1, 3)
President, Standard
Industries
Maurice S.
Smith (2, 3)
President, Chief Executive
Officer, and Vice Chair, Health
Care Service Corporation
Janet L.
Weiss (1, 4)
Former President,
BP Alaska
Tobi M.
Edwards Young (1, 4)
Senior Vice President,
Legal, Regulatory,
and Corporate Affairs,
Cognizant Technology
Solutions
*Mr. Carroll notified the Board on February 13, 2024, of his intent to not stand for re-election at the 2024 Annual Meeting of Shareholders. He will serve as director until his term ends
immediately prior to the Annual Meeting of Shareholders on May 15, 2024.
SUSTAINABILITY OVERSIGHT
The Halliburton Board's Nominating and Corporate Governance Committee provides general oversight for sustainability. Other Board
committees assist with sustainability oversight as shown in their respective charters.
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Nominating and Corporate
Governance Committee
Audit Committee
Compensation Committee
Health, Safety and Environment
Committee
• Overall sustainability
• Principal independent public accountants
• HSE matters and sustainability
• Overall executive compensation
• Corporate Governance Guidelines
•
Internal Assurance Services and the
• HSE risk-management processes
• Director self-evaluation process and
• HSE performance
performance reviews
• Financial statements and accounting
• Environmental impact, including climate
matters
Ethics and Compliance group
systems and controls
• Enterprise risk, including information
security and cybersecurity*
• Control structure for externally reported
non-financial metrics
• Board refreshment
• Board's mix of skills, characteristics,
experience, and expertise
• Director compensation
• Management succession planning
• Political and lobbying spending
*The Board of Directors receives quarterly cybersecurity updates.
program
• Effectiveness of compensation
program to attract, retain, and
motivate Section 16 officers
• Pay and incentive plans metrics,
including Non-Financial Strategic
Metrics
The following chart details the primary oversight responsibilities held by each of Halliburton's Board committees:
Nominating and
Corporate Governance
Committee
■ Overall sustainability
■ Corporate Governance
Guidelines
■ Director self-
evaluation process and
performance reviews
■ Board refreshment
■ Board's mix of skills,
characteristics,
experience, and
expertise
■ Director compensation
■ Management
succession planning
■ Political and lobbying
spending
Audit Committee
Health, Safety and
Environment Committee
Compensation
Committee
■ Principal independent
public accountants
■ HSE matters and
sustainability
■ Overall executive
compensation program
■ HSE risk-management
■ Effectiveness of
processes
■ HSE performance
■ Environmental impact,
including climate
matters
compensation program
to attract, retain, and
motivate Section 16
officers
■ Pay and incentive plans
metrics, including
Non-Financial Strategic
Metrics
■
■
Internal Assurance
Services and the Ethics
and Compliance group
Financial statements
and accounting systems
and controls
■ Enterprise risk,
including information
security and
cybersecurity*
■ Control structure for
externally reported non-
financial metrics
*The Board of Directors receives quarterly cybersecurity updates.
EXECUTIVE COMPENSATION
Halliburton's executive compensation program focuses
on incentivizing performance, maximizing returns, and
building shareholder value. It is integrated with our overall
business strategy and management processes, and is
performance-based, at-risk, and long-term. Our long-term
incentive plan includes relative performance measures, and
our annual incentive plan combines financial and non-financial
strategic metrics. For additional information, visit our 2024
Proxy Statement.
Halliburton's commitment to shareholder input resulted
in numerous, substantive changes to the structure and
governance of our executive compensation program in the
last few years. Most recently, we implemented a payout
cap in our long-term incentive plan for negative Return on
Capital Employed (ROCE) performance and increased the
target performance level for relative ROCE. These changes
directly reflect feedback we received from our shareholders
and further strengthened the program's design through
alignment of pay opportunities, business performance, and
pay outcomes, and demonstrated our commitment to put
forth a market-competitive program that produces the results
our investors expect.
Board of Directors and other leaders visit Halliburton test rig facility in Texas
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G2
ENTERPRISE RISK
MANAGEMENT
Halliburton's risk-assessment process relies on a consistent,
systematic, integrated approach to risk, and includes a yearly
Our Risk
Management Sustainability
Commitments
■ Streamline risk categories, risk identification, and risk
management to ensure alignment with Halliburton
strategy and place a focus on what matters most.
■ Enhance cross-functional visibility to and collaboration
review of items that have potential to impact our business
among key stakeholders throughout the organization to
ensure consistency, uniformity, and strategic approach to
risk assessment, identification, and mitigation.
GLOBAL IT INFRASTRUCTURE
Halliburton's IT strategy includes modernized infrastructure,
networks, and applications that provide agility, scalability, and
flexibility to our business and customers. This design aligns
with and supports our broader digital and automation strategy.
We continue our efforts to optimize all applications deployed
to cloud-based digital platforms. This includes applications
that are new to the cloud as well as those we migrated from
previous platforms. These efforts reduced the on-premise
infrastructure required for our work. At the end of 2023, we
achieved our goal to reduce our global data center footprint
by 75%.
continuity, strategy, and crisis management. Halliburton
reports to the Board of Directors on the results of the
risk-assessment process. This process is part of Halliburton's
Enterprise Risk Management (ERM) program, which is
designed to identify, mitigate, and manage enterprise-level
risks to our organization as well as other strategic risks.
ANNUAL ENTERPRISE RISK
ASSESSMENT
Halliburton's refreshed risk-assessment process continued
in 2023. We conduct this process with our partnership with
a global leader in ERM programs. This streamlined and
collaborative approach to strategic risk assessments is one
way we identify and prioritize top risks.
The process consists of yearly workshops that facilitate open
dialogue, debate, and existent and emergent risk evaluation.
This year, 79 Halliburton executives participated to discuss,
evaluate, and score risks based on their potential impact,
likelihood of occurrence, and risk-mitigation preparedness.
Workshop results provided valuable feedback for focusing
risk-mitigation attention and opportunities for process
optimization. We incorporate insights gained into upcoming
plans and utilize them to help Halliburton minimize risks and
maximize opportunities as it achieves its strategic plans.
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CYBERSECURITY
Halliburton takes every threat to cybersecurity seriously. Our
Board receives quarterly updates about cybersecurity matters
and Halliburton's Audit Committee receives an in-depth annual
review on the topic.
Halliburton invests significant resources to protect our
systems and data. We do this in ways that align with industry
standards, such as the National Institute of Standards
and Technology (NIST) Cyber Security Framework, NIST
800-53, NIST 800-82, and International Electrotechnical
Commission 62443.
The following are examples of measures taken to implement
our Defense-in-Depth design philosophies for Information
Technology (IT) and Operational Technology (OT) systems:
Halliburton continued to perform OT security
self-assessments for all of our product lines in 2023. These
assessments promote proper governance of cyber controls;
help us evaluate evolving cyber risks; and improve our product
line network segmentation, monitoring, and endpoint security
management. We regularly evaluate advanced cybersecurity
technologies with potential to help Halliburton expand our
portfolio of OT security solutions.
In 2023, we further enhanced our annual cybersecurity training
program. We launched additional training on specific subjects,
such as phishing and privileged access management, that
are now required for select groups of Halliburton personnel
and optional for the rest of our employees. The groups that
are required to complete these new training courses do so
alongside Halliburton's annual cybersecurity training course,
which is required of all our employees and contractors. We
■ Multi-factor authentication, which verifies users’ identities
also added a new OT Security training that is required for all
beyond their credentials
Halliburton employees and contractors.
■
■
“Zero trust,” which establishes layers of protection for
users and devices
“Least privilege,” which limits the content individual users
can access
Analyst monitors application and infrastructure performance using iEnergy® platform
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Halliburton chemical reaction plant in Saudi Arabia
PHYSICAL SECURITY
Global Travel Risks
Halliburton takes active steps to protect the physical safety of
employees. Where employees' work responsibilities might
cause risks to their physical safety, we have established safety
procedures and infrastructure to minimize those risks.
Our security team monitors and assesses current and
developing global security risks where Halliburton operates.
It works collaboratively with local management teams to
develop and execute security plans. These efforts include
controls designed to enhance the security of Halliburton's
personnel and assets.
Workplace Violence Prevention
Halliburton works to maintain a secure and safe workplace
environment for all of our employees. Our Code of Business
Conduct (COBC) and security controls are the foundation of
workplace safety at Halliburton. Through on-demand training,
we communicate with employees and managers about
the best ways to recognize, report, and manage threats
of violence.
Halliburton operates business on a global scale. We use our
network of security specialists and our 24-hour Global Security
Operation Center (GSOC) to monitor global security conditions
and associated risks. Because we maintain vigilant attention to
global security conditions, we can warn our employees about
threats, incidents, or local developments that may affect them
on business-related travel.
Autonomous Security Technology
In 2023, we continued to integrate security technologies
to provide enhanced capabilities for security operations,
emergency response, and autonomous access control.
This included the extension of our drone program, which
recorded over 1,000 miles flown and improved our overall
situation awareness.
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G3
ETHICS AND
COMPLIANCE
Everything we do at Halliburton is founded on respect and
integrity, which are two of our core values. Our longstanding
ethics and compliance program enables us to maintain this
foundation. Halliburton's Global Ethics and Compliance group,
which is led by the Chief Ethics and Compliance Officer and
supervised by the Audit Committee, administers the ethics
and compliance program. The program includes Halliburton's
Ethics Helpline, whistleblower protections, and COBC. Visit
the Halliburton COBC page of our website to learn more
and find the full text of our COBC, which is available in
multiple languages.
LOCAL ETHICS OFFICERS
Halliburton's Local Ethics Officers (LEOs) are employees who
have chosen to assume an additional responsibility to promote
awareness of ethics and compliance. Employees who are
appointed to be LEOs receive training about ethical behavior
Our Ethical Operations
Sustainability Commitment
■ Conduct business with integrity, choosing the ethical
course of action when confronted with challenging
circumstances, promoting a speak-up culture free of
retaliation, and treating our employees and stakeholders
honestly and fairly.
ETHICS AND COMPLIANCE
TRAINING
Halliburton provides robust training for everyone at the
Company, and in-person or online COBC training is required of
all employees and contractors of Halliburton who have access
to our systems. Our ethics and compliance training program
ranges from managerial development programs hosted by
corporate executives to site-specific training at job sites and a
variety of other opportunities.
Training Hours for COBC, Anti-Corruption, and Enhanced Procurement
Fraud in Countries Designated as High-Risk
modeling; best practices to answer employee questions and
Number of Hours
provide guidance; and how to receive and escalate reports of
suspected misconduct. They work locally to help supplement
our COBC-based ethics and compliance training program
through their presentations on ethics topics and serve as
community resources. At the end of 2023, 51 LEOs in 35
countries served in this role.
2021
2022
2023
56,689
58,078
60,107
Halliburton LEOs provide relevant, timely, and targeted
in-person and virtual ethics and compliance training around
the globe. In 2023, Halliburton LEOs conducted 1,764
presentations. They are a critical avenue of communication
for our global compliance program from the office to the
wellhead. In addition, because our LEOs are present in local
offices, our employees have one more resource they can
go to if they wish to raise a concern or report a suspected
ethics violation.
1,764 Number of LEO
Presentations
Field employee discussion in Añelo, Argentina
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G4
ANTI-BRIBERY,
ANTI-
CORRUPTION,
AND FAIR
COMPETITION
Everyone who conducts business on Halliburton's behalf
— from employees, contractors, and suppliers to agents,
consultants, officers, and directors — is required to follow
our anti-bribery, anti-corruption, and fair competition policies
and procedures. Our COBC references relevant policies and
practices and our commitment to these principles.
OUR REQUIREMENTS
Halliburton employees are expected to conduct business with
integrity and to be guided by our core values. Employees must
comply with the U.S. Foreign Corrupt Practices Act, the UK
Bribery Act 2010, and similar laws that apply to our business.
Our employees also must engage in fair competition for
business and win it in a legal and ethical manner.
EMPLOYEE TRAINING
Every employee with relevant job functions, as well as
employees who work in high-risk countries, must complete
our anti-corruption and anti-bribery employee training
course. The training course emphasizes Halliburton's core
commitment to conduct business the REDWay and to engage
in and win business fairly, professionally, and with integrity. It
also reviews topics like business relationship management,
due diligence, and how to ethically engage in business
hospitality and charitable contributions.
Halliburton's Global Ethics and Compliance group supports
and supplements our web-based anti-corruption training
courses with in-person and virtual trainings each year. Our
Global Ethics and Compliance team visits with employees
and contractors in our geographies, product service lines,
and functions, including at manager boot camps, Halliburton
corporate and operational facilities, and corporate gatherings.
Global Ethics & Compliance team member leads in-person training in Kuwait
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Our Supplier Conduct and
Responsible Procurement
Sustainability Commitment
■ Cultivate a sustainable supply chain through the
continuous improvement of internal processes, by
performing proactive risk assessments, and by working
collaboratively with our diverse mix of global and
local suppliers.
At present, Tier 1 suppliers representing 89% of
Halliburton's annual spend have been engaged via the
platform. Tier 1 suppliers representing 68% of Halliburton's
annual spend are now fully registered in the platform and
undergoing assessment.
Tier 1 suppliers representing:
spend engaged
89% of Halliburton's annual
68% of Halliburton's annual
spend registered
G5
SUPPLY CHAIN
GOVERNANCE
Halliburton works with suppliers who share our commitment
to integrity and ethical business practices. We use a standard
approach to screen suppliers and measure their compliance
with our rules, terms, and conditions. We also review and
monitor our current suppliers' practices to confirm they
comply with Halliburton's policies. Learn more about our
Supplier Management System, local supplier procurement
policies, modern slavery and trafficking prevention, conflict
minerals, and supplier compliance and training-related
expectations on the Supplier Relations page of the
Halliburton website.
DRIVING A SUSTAINABLE
VALUE CHAIN
Halliburton knows effective due diligence of our supply chain
is essential to build and maintain sustainable operations.
It is important to select suppliers that operate sustainably.
Halliburton's work to select and qualify suppliers includes
evaluations of suppliers' sustainability commitments. We
expect our suppliers to improve with us in sustainability
matters. We also encourage our suppliers to track
their sustainability performance and proactively pursue
continuous improvement.
SUPPLY CHAIN MONITORING
PLATFORM
Halliburton continued to develop and implement a digital
supply chain monitoring platform in 2023. This cloud-based
platform collects and monitors sustainability data from
suppliers on a wide range of topics that include human rights,
conflict minerals, supplier diversity, and carbon footprint.
Halliburton uses this system to engage with our supply chain
partners on key sustainability issues, identify and prioritize
risks, manage supplier corrective action plans, and track
vendor progress on carbon footprint reduction.
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PERFORMING DUE DILIGENCE
IN OUR SUPPLY CHAINS
Policies
Halliburton's contracted suppliers must commit to protect and
uphold the fundamental human rights of their employees as
defined by the UN Universal Declaration of Human Rights. We
use our Supplier Ethics Letter and Supplier Ethics Statement
to communicate ethical expectations to our suppliers. In 2023,
we enhanced our supply chain policies by embedding our
sustainability commitments and requirements in them.
Risk Assessment
During onboarding, we require potential suppliers to engage
in a risk-evaluation process via our procurement system.
Depending on supplier risk level, we collect information such
as insurance documentation and safety risk assessments.
We also conduct screenings for export controls. We then use
our supply chain monitoring platform to conduct sustainability
assessments. As a data collection and mapping tool, this
platform plays an important role in making it possible for
Halliburton to analyze data, pinpoint risks within our supply
chain, and prioritize areas for follow up. When we work to
determine which risk levels to assign to suppliers, we assess
them based on relationship, category, and geography.
Our Approach to Supply
Chain Sustainability
Communication
& Training
Reporting &
Accountability
Embedding
sustainability in supply
chain processes
Halliburton includes evolving international Human Rights
legislation, particularly import and trade restrictions, in
our risk assessment methodology. In the course of risk
assessment, we consult international standards, such as the
UN Guiding Principles for Business and Human Rights and The
Organization for Economic Co-operation and Development
Due Diligence Guidance for Responsible Business Conduct.
The supply chain monitoring platform has enabled Halliburton
to expand our supplier human rights due diligence program
and take effective action to reduce risks and improve
sustainability performance over the long term. It administers
questionnaires to suppliers about key Human Rights and
Labor topics. We have used the platform to conduct Human
Rights and Labor evaluation for 4,496 suppliers (which
comprises 56% of our global spend).
Human Rights Audit and Supplier Evaluation
In 2023, we continued to enhance our high-risk supply chain
due diligence. Through Halliburton's ongoing collaboration with
a third-party human rights auditor, we maintained our practice
of on-site human rights audits of suppliers. We consider
the scale of our business with particular suppliers and the
nature of the goods or services they provide to determine the
proper scope and form of our audits. We conduct Workplace
Conditions Assessments, Labor Provider Audits, and Service
Provider Audits, among others.
Halliburton evaluates our critical suppliers annually. In these
evaluations, we look at suppliers' risks related to safety, quality,
environment, social responsibility, economics, and corporate
governance. Suppliers must respond to a questionnaire that
asks about their level of compliance with Halliburton's COBC,
safety standards, and requirements. If a supplier is found to
be non-compliant with Halliburton's standards, our response
actions can lead to supplier termination.
Risk Analysis
Visit Chapter S4 Human Rights to read more about
Halliburton's Human Rights policies.
Performance
Monitoring
Impact Analysis
Risk Mitigation /
Remediation
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LOCAL CONTENT AND
SUPPLIER DIVERSITY
Halliburton draws strategic and competitive operational
advantages from its strong, established relationships with
local suppliers. As we support them, we help expand national
and local suppliers' capacities and competencies, promote
positive labor practices, and stimulate local economies.
We engage in legal, ethical work with governments and
customers around the world to meet our local content targets.
Halliburton collaborates with industry counterparts and
IPIECA to develop standardized local content measurement
and reporting practices for the global oil and gas industry. We
helped create new local content guidance for the oil and gas
industry that was published in March 2023.
In 2023, we engaged 5,992 suppliers with questions about
diversity via our cloud-based supply chain monitoring platform.
This inquiry was designed to validate data and identify diverse
vendors in our network. We also expanded supplier diversity
to include disabled- and veteran-owned businesses.
Conflict Minerals
Halliburton is a member of the Responsible Minerals Initiative.
We work with our suppliers to make sure they ethically source
conflict minerals. Non-compliant suppliers are subject to
termination or corrective actions.
In 2023, our cloud-based supply chain monitoring platform
enabled us to increase our supplier response rate from 78%
to 86%. It also affords us better visibility into our suppliers'
actions; greater ease in collaboration with suppliers on
appropriate remedial or corrective actions; and a more intuitive
assessment platform.
SUPPLY CHAIN TRAINING
To deliver training about sustainability and supply chain
mapping to our internal personnel and external suppliers,
Halliburton engages resources from professional training
bodies that develop material focused on supply chain
and procurement practices. In 2023, in collaboration
with the Supply Chain Sustainability School, we piloted
sustainability-related training to key internal employees and
external stakeholders.
The Supply Chain Sustainability School enables us to provide
a wide range of sustainability training on a variety of topics,
including modern slavery, ethical procurement, environmental
protection, and climate change. This includes the International
Petroleum Industry Environmental Conservation Association
(IPIECA) Labor Rights Training, which covers topics such as fair
recruitment, worker grievance mechanisms, and forced labor.
We also continued our internal training on Supply Chain
Sustainability Awareness for supply chain employees in 2023.
This training covers a range of key sustainability topics relevant
to our supply chain, including emissions, supply diversity,
supply chain risk mapping, modern slavery and related
legislation, the UN Sustainable Development Goals, and UN
Guiding Principles on Business and Human Rights.
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G6
PUBLIC POLICY
The global energy industry is subject to a set of complex,
ever-evolving regulations. We engage on public policy issues
relevant to Halliburton, our operations, and our workforce.
TRANSPARENCY AND
OVERSIGHT
Transparency is a corporate priority at Halliburton. We
maintain practices that enable transparency and implement
new practices that increase our transparency each year.
Our Board's Nominating and Corporate Governance
Committee reviews and approves political engagements
such as Halliburton's lobbying activities, payments to trade
associations, and political expenditures, as provided by the
Halliburton Policies for Political Engagement.
The CPA-Zicklin Index assesses political engagement policies
at S&P 500 companies for transparency and accountability.
Companies scored on the CPA-Zicklin Index have their
company policies and practices reviewed in 24 areas, including
political contributions, trade associations, and political action
committee (PAC) activities.
POLITICAL ACTIVITY AT
HALLIBURTON
Halliburton does not use corporate dollars to make direct
contributions to political candidates or parties. Halliburton's
political action committee, the Halliburton Company Political
Action Committee (HALPAC), is multi-candidate and
non-partisan. You can learn more about HALPAC on the
Public Policy page of the Halliburton website.
CPA-Zicklin Index
Trendsetter Status
In 2023, Halliburton scored a 93 on the
CPA-Zicklin Index with a raw score of 65
points. A score of 90 or above indicates
robust disclosure and oversight and classifies
a company as a Trendsetter, a status
Halliburton obtained in 2022 and maintained
in 2023. We are the only oilfield services
company currently classified as a CPA-Zicklin
Index Trendsetter.
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ENVIRONMENTAL
Globally, oil and gas continue to be critical sources of energy. The pursuit of a lower carbon future must account
for their place in the global energy mix. Halliburton focuses on three fronts to drive decarbonization: deliver
technologies that help reduce the emissions intensity of our own and our oil and gas customers' operations;
service growing markets such as carbon capture, utilization, and storage (CCUS) and geothermal energy through
our Low Carbon Solutions business; and continue to help innovators and entrepreneurs scale across the broader
energy system through Halliburton Labs, which also allows us to learn how we can add value to this broader
space. Our efforts also go beyond carbon as we continue to implement measures to reduce waste generation
and optimize water use.
E1 EMISSIONS
REDUCTION
PROGRESS
E2 THE FUTURE OF
ENERGY
E3 ENVIRONMENTAL
MANAGEMENT
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E1
EMISSIONS
REDUCTION
PROGRESS
Our Climate Change
Sustainability Commitments
■ Achieve a 40% reduction of Scope 1 and 2 emissions by
2035 from 2018 baseline.
■ Partner with Tier 1 suppliers to track and reduce Scope 3
GHG emissions.
Halliburton understands the oil and gas industry has an
important role to play to help reduce the world's emissions,
and that affordable, secure energy is essential for global
Scope 1 GHG Emissions
economic development. We are dedicated to our work to
MTCO2e
reduce emissions, improve efficiency, and advance the
development of clean energy options. Our Chief HSE Officer
has responsibility to define and execute our emissions
reduction strategy, which the HSE committee of our Board of
Directors oversees. The Board also receives regular updates
about Halliburton's progress. You can read our Climate Change
Statement, Climate Risk Scenario Analysis, and additional
information about our emissions reduction efforts on the
Halliburton website.
FOCUS ON EMISSIONS
REDUCTION
In 2023, we continued to invest in innovations and initiatives
2021
2022
2023
Scope 2 Market-Based GHG Emissions
MTCO2e
2021
2022
2023
248,949
405,114
3,503,441
3,320,350
3,443,174
843,376
that support progress toward our 2035 emissions reduction
help customers reduce their emissions. Over the last two
target. We expect total emissions to fluctuate in the near term
years of electric fracturing deployments, we have reduced
as market dynamics, our hydraulic fracturing equipment mix,
our North America fracturing-related emissions intensity by a
and operational efficiencies affect our emissions. Hydraulic
cumulative 4%.
fracturing accounts for about 80% of our carbon footprint, and
strong demand for oil and natural gas supply drove demand for
our services which resulted in a 15% increase in our absolute
Scope 1 and 2 emissions year over year. However, our overall
emissions intensity is down 13% compared to 2018, which
suggests we are on track to meet our target.
Given the continued expansion of our electric fracturing fleet,
our Scope 2 emissions went from 11% of our total reported
emissions in 2022 to 20% in 2023. We expect this shift
to continue as more of our diesel-powered equipment is
replaced by electric units over time. Continued electrification
will open new avenues for emissions reduction given power
source optionality.
Fracturing Electrification
We continue to deploy new electric fracturing units,
which reduce the emissions intensity of our fleet and
Our electric fracturing units provide a lower emissions profile
relative to other units and offer power source optionality
that include grid power and different sources of natural gas.
Halliburton's customers recognize our units as valuable
options in their emissions reduction journeys.
Fracturing electrification operations
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Environmental
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Facilities
Sustainability is integrated into our real estate processes.
Due to our efforts to assess and improve the efficiency of our
facilities through initiatives such as solar energy, LED lights,
renewable electricity procurement, and the optimization of
other mechanical systems, we reduced over 39 million kWh
in 2023.
Nine of Halliburton's sites located in Canada, India, and the
U.S. currently purchase 100% renewable power. In 2023,
Halliburton installed LED lighting at 26 sites globally, and
we have contracted installations at nine additional sites.
This ongoing initiative has shown a 62% average reduction in
U.S. lighting-related electricity consumption.
Mapping Carbon in Our
Supply Chain
In 2023, Halliburton collaborated with
IPIECA and other oil and gas companies to
develop a standardized process to define
and calculate embodied carbon for select
purchased materials.
Halliburton uses analytical tools to assess
our suppliers' carbon footprint management
maturity. To date, Halliburton has assessed
the maturity of over 4,116 suppliers. Aided
by direct discussions with our suppliers, we
have also started to collect product carbon
footprint data. Learn more about the
cloud-based platform we use in the Supply
Chain Monitoring Platform section of
this report.
Halliburton Completion Technology and Manufacturing Center, Singapore (Lion Facility)
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Our Innovation
Sustainability Commitments
■ Lead the industry in innovation and conscientious
stewardship of global resources.
■ Provide solutions that support decarbonizing our
customers’ production base.
Digital Emissions Calculations
In 2023, we integrated the Envana™ emissions data
management software with our service delivery workflows
and equipment sensors. This integration was accomplished
in several product service lines and enables us to generate
reliable, repeatable, and detailed emissions data for jobs
executed by these product service lines. Halliburton uses
this data to report verifiable emissions data, collaborate with
customers to identify opportunities to reduce emissions, and
inform our product development.
E2
THE FUTURE OF
ENERGY
The world requires a diversified use of all sources of energy,
each of which has a role to play in the future. At Halliburton,
we deliver value to the broader energy landscape. Our work is
focused in three spaces:
■ We provide goods and services to help our customers
reduce the emissions footprint of their operations.
■ We put our core competencies to work to deliver
solutions to low-carbon energy projects such as CCUS
and geothermal energy.
■
Through Halliburton Labs, we help early-stage companies
in emergent energy sectors scale as we learn about
where we can strategically engage new markets.
LOWERING THE CARBON
INTENSITY OF OUR
CUSTOMERS' OIL AND GAS
OPERATIONS
Halliburton helps our customers lower the carbon intensity of
their operations through innovative, data-driven solutions in the
full well lifecycle. The oil and gas industry provides affordable,
reliable energy that is necessary for the global society and
its growth. The path toward a lower carbon future includes
hydrocarbons produced more efficiently and with a reduced
carbon footprint.
Our approach to sustainability is embedded in our new
technology development process and customer collaboration.
We develop and deliver solutions that help our customers
reduce emissions, maximize their assets, and build a
sustainable future.
Our data-driven solutions positively impact our
emissions footprint and are key to our end-to-end
sustainability strategy
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Sustainability in the Product Development Process
All new product-related research and development at
Halliburton follows LIFECYCLE, our technology development
process. LIFECYCLE's steps consider, among other factors,
ways to minimize and quantify potential sustainability-related
impacts. It is a rigorous, interdisciplinary, and collaborative
stage-gate product development process that facilitates
successful technology commercialization.
In 2023, we simplified how we identify products or services
that help our customers reduce emissions and standardized
how we qualify environmental impact early in the technology
development process. We also improved our process
controls, which monitors our project launches from inception
to commercialization.
If a product or service is determined to have a favorable
Intelevate™ Platform
Intelevate™ Platform, developed through
LIFECYCLE, is a customizable digital platform
that helps operators design, build, and
operate end-to-end electrical submersible
pump (ESP) monitoring solutions. It facilitates
faster, more accurate goal setting and
operating plan development. A customer that
adopted the Intelevate™ Platform increased
their average equipment run life by over 60%.
It enabled the customer to remotely operate
around one-third of their ESP operations
in the Permian Basin and decreased the
number of technician visits made by 50 visits
sustainability impact during the LIFECYCLE process, it is then
per month.
classified in one of the following categories:
1. CO2e footprint reduction
2. Direct/indirect input (i.e, electricity, raw materials, or
logistics) and/or waste reduction
3. CO2e footprint assessment and/or emissions mitigation
4. Low Carbon Solutions
Combining design and monitoring expertise with data science to digitally transform ESP performance
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2023 TECHNOLOGY SUSTAINABILITY MATRIX
Halliburton maps the lower environmental impact technologies we launch in our Technology Sustainability Matrix. This reference
document identifies our environmental impact-reducing technology offerings according to every stage of the well lifecycle. The
excerpt below highlights products and services we launched in 2023. More information can be found on the Sustainability page of the
Halliburton website.
Products / Services
ARTIFICIAL LIFT
Intelevate™ Platform
BAROID
BaraFLC® Nano nanoparticle wellbore sealant additive for water-based fluid systems
COMPLETION TOOLS
IsoRite® -FT Multilateral completion system
PRODUCTION SOLUTIONS
Hydra-Blast® Pro wellbore cleaning service
SPERRY DRILLING
PulseStar™ intelligent high-speed telemetry service
GuideStar™ continuous definitive survey measurements service
iCruise® CX intelligent rotary steerable system
EarthStar® X near-bit, shallow, and ultra-deep resistivity service
TESTING & SUBSEA
Remotely Operated Control System (ROCS)
Subsea Controls and Intervention Light System (SCILS)
WIRELINE & PERFORATING
CoreHD® scientific imaging services
PorosityHD™ imaging and digital routine core analysis
FastSCAL™ digital special core analysis
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LOW CARBON SOLUTIONS
We saw significant growth in 2023 as the global project
opportunities for CCUS and geothermal energy increased.
Our Low Carbon Solutions offerings apply our experience
and preexisting technologies to develop and execute our
customers' projects. We include a few highlights below.
CCUS Highlights
Halliburton provides solutions that help our customers
analyze risk in complex CCUS projects. We offer tools that
help companies understand the geological characteristics
as our IntelliSat™ pulsed neutron logging service, provide
accurate assessments of carbon/oxygen saturation — a
critical step before CO2 injection. A range of formation
pressures can be collected when these technologies are
paired with our Reservoir Description Tool (RDT™) formation
tester, which provides information related to storage and
containment quantification.
Measurement, monitoring, and verification (MMV) is
a required step in storing injected CO2 underground.
Halliburton's solutions include tools that facilitate accurate
MMV of formation pressures and temperatures, remote
of a potential storage site. Our cementing and completions
data access, and storage and leak detection alerts. Our
product lines offer a range of corrosion-resistant solutions that
DataSphere® continuous monitoring suite delivers subsurface
customers can use to construct storage wells.
Halliburton's Neftex® FairwayFinder™ software uses
an informed approach to identify and screen potential
storage sites. Our wellbore evaluation technologies, such
monitoring capabilities. The suite also collects live wellbore
data that aids injection and reservoir model enhancement to
fulfill CCUS MMV requirements.
SPIDR® Data Acquisition Unit
Halliburton's SPIDR® data acquisition unit
is a well-surveillance solution. Both the
SPIDR® data acquisition unit and SPIDRlive®
streaming surface pressure data retrievers
capture high-quality pressure data at the
wellhead without wellbore intervention.
SPIDRlive® streaming surface pressure data
retrievers use the cloud to stream data and
provide a wider remote visualization capability
for CO2 injection sites.
HyNet UK Carbon Storage
Project
In 2023, Halliburton was awarded contracts for work on the
HyNet North West CCUS project in the Liverpool Bay area, the
first of its kind commissioned in the UK. This project will involve
completions, liners, and monitoring products and services.
Its goal is to reduce carbon dioxide emissions through use of
depleted hydrocarbon reservoirs for geological storage and by
providing the region access to low carbon energy.
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Geothermal Energy Highlights
Global demand for sustainable heat and electricity has
led to growth in conventional geothermal projects and
advancements in geothermal systems. These advanced
systems allow for geothermal energy production in
areas without ideal geological conditions for conventional
geothermal applications.
Halliburton's technology portfolio, combined with our
experience in the geothermal space, positions us to meet
the growing geothermal energy market's demands. Our
integrated and comprehensive approach to the geothermal
project lifecycle delivers a low-cost-per-megawatt solution for
our customers. From subsurface software, well construction,
and artificial lift to well interventions, Halliburton has a
portfolio of products and services to support operators in the
geothermal sector. We develop new technologies to drive
performance and reliability in this high-temperature,
high-pressure environment to make geothermal energy more
accessible and affordable.
Xaminer® Sonic Imager™
Logging Service
Halliburton's wireline product line deployed
Xaminer® Sonic Imager™ logging service
pairs with our borehole imaging offerings,
such as StrataXaminerTM high-resolution
images in oil-based mud, to characterize
fracture networks in geothermal projects.
The Xaminer® Sonic ImagerTM logging service
delivers high-resolution characterization of
seismic properties, geomechanics, and
completion requirements in a wide range of
reservoirs. Data acquired by these advanced
services is vital for planning induced fractures
in the target geothermal zone.
Cape Station: Horizontal
Geothermal Well Project
We worked with Fervo Energy in Utah, a leading geothermal
energy company, to deploy the Halliburton VersaFlex® XSL-ZE
Liner Hanger system in the world's first commercial enhanced
geothermal greenfield development project. Fervo leverages
horizontal drilling, distributed fiber-optic sensing, and
multi-zonal completion techniques to enhance permeability
and water flow through the subsurface, removing the need
for naturally occurring hydrothermal resources that are
required in conventional geothermal wells. A cross-functional
team installed and successfully cemented the technology in
three different horizontal wells. Our collaboration helped the
customer achieve higher efficiency in their geothermal
well projects.
StrataXaminer™ imaging service delivers high-resolution
images of the reservoir structure
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HALLIBURTON LABS: THE
FUTURE OF ENERGY. FASTER.™
Through Halliburton Labs, we provide a wide spectrum of
energy system innovators and entrepreneurs with access
Halliburton Labs also hosted its first Company Showcase
event in May 2023 for nine of our participant startups. An
audience of over 55 clean-tech venture investors attended. At
this event, we facilitated live pitches for nine of our participants
and more than 174 curated meetings between startups and
to our capacity to scale and the vast resources in our global
relevant investors.
32
Halliburton
Labs Participant and
Alumni Organizations
infrastructure and network. We come alongside these
organizations to help them further their strategic goals.
Participating startups include those engaged in industrial
decarbonization; carbon capture and utilization; grid-scale
and long-duration energy storage; energy generation and
conversion; critical minerals recovery; hydrogen production
and transportation; and circular economy. Halliburton
Labs creates tangible value for early-stage companies in
emergent energy sectors. We grant access to resources
that support organizations' efforts to scale and expand their
industry networks.
As we support these organizations, we develop new insights
and discover opportunities for exploration, investment, and
growth. Halliburton also gains institutional knowledge that will
enable us to collaborate and engineer solutions to maximize
asset value in the energy systems of the future. Participants
enter a financial agreement that secures an equity stake for
Halliburton Labs at their next round of institutional financing.
Halliburton Labs closed out 2023 with 32 participant and
alumni organizations that represent all facets of energy
production, storage, distribution, and efficiency, as well as
the industrial decarbonization and waste-to-value sectors. We
continue to see high levels of interest in Halliburton Labs from
investors, startups, and academic institutions. Increasingly, our
applicants are referred to us by companies and investors who
have seen the value we create firsthand.
Halliburton Labs Gives Clean-tech Startups Visibility
We hosted two Finalists' Pitch Day events in 2023. At these
events, we showcased 10 early-stage hard-tech companies
that innovate solutions in many different sectors of the energy
landscape. This was the first year we took our Pitch Day on the
road. We collaborated with key energy organizations to deliver
a Future of Energy Day at Denver Startup Week, which further
expanded Halliburton Labs' and our Finalists' reach, visibility,
and networks.
Clean tech startups pitch at the Halliburton Labs Finalist Pitch
Day for an opportunity to join their accelerator program
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Halliburton Labs hosts panel discussions for its Innovation Series
Participant Achievements
In 2023, many Halliburton Labs participants
achieved important milestones in their work
to scale their operations.
LiNa Energy reduced its funding needs
by 30% in consultation with Halliburton
Renew Power Systems, Inc. produced
its first commercial inverter units
SunGreenH2 was a 2023 winner of the
BloombergNEF Pioneers Award
■
■
■
■
Halliburton Labs Innovation Series
Halliburton held three Innovation Series events in 2023 that
were open to all Halliburton employees. We invited panels of
distinguished industry, academia, and startup speakers to have
insightful, stimulating discussions at our Houston, TX, campus.
Topics discussed included Nuclear Energy; Carbon Capture at
Gigaton Scale; and Carbon Utilization. Employees gained an
opportunity to hear new and diverse views about innovation,
market drivers, and potential gaps in emergent value chains.
Venture Development
Halliburton began to incubate NaviScale in 2023. NaviScale
is a Halliburton commercial venture that makes use of
Halliburton's experience and expertise to help clean-energy
and climate-tech ventures navigate their scale-up journeys.
Disa Technologies, Inc. closed a $15
It assists them as they identify unseen risks in equipment
million fundraising round
These examples demonstrate how
Halliburton Labs creates tangible value
for early-stage companies in emergent
energy sectors.
design; optimize their designs for manufacturing; verify their
readiness to scale, and secure suitable and reliable supplier
relationships. With NaviScale, Halliburton will be able to extend
the impact of Halliburton Labs beyond participants and alumni.
NaviScale will deliver a commercial solution powered by
Halliburton to the broader climate tech market.
As Halliburton works alongside a broader range of innovative
companies, we expand our access to and insight into
promising value chains even further and spark additional
opportunities to collaborate and engineer solutions for the
energy systems of the future.
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E3
ENVIRONMENTAL
MANAGEMENT
We use the Halliburton Management System (HMS) to
facilitate our environmental management efforts. HMS
identifies areas where we can reduce or mitigate our
environmental impact. It also helps us manage environmental
risks. Additionally, we conduct environmental evaluations
during the due diligence phase of every potential M&A
transaction. Work done at Halliburton — which includes our
environmental management work — is guided by the policies,
Our Environmental
Management Sustainability
Commitments
■ Establish and achieve activity-based waste-reduction
targets in our major facilities.
■ Create water-use improvement plans in our major
facilities located in water-stressed areas.
BIODIVERSITY
business practices, and procedures that are comprehensively
For Halliburton, sustainability includes supporting our
detailed in HMS. Read more on the HMS page of the
customers, employees, and communities. We recognize
Halliburton website. Visit the Environment page of our website
finding ways to reduce our impact on biodiversity plays a role
in this work. Our efforts in this area include environmental
evaluations to help reduce our impacts to our land; facility
designs that meet regulatory requirements and are energy-
and water-efficient; promotion of circularity in materials
use; targeted water use and waste reduction programs;
engagement with local communities to protect and restore
sensitive habitats; and cultivation of a responsible supply chain
in collaboration with suppliers.
Halliburton respects World Heritage sites and the protections
afforded to them. We do not own or lease operational sites
on or within 10 km of the locations on UNESCO's World
Heritage List.
to learn about our chemical stewardship.
ENVIRONMENTAL FACILITY
CERTIFICATIONS
The HMS complies with industry-standard certification
programs — including International Organization for
Standardization (ISO) 14001 and API RP 75 — as do all the
processes and procedures it contains. Many of Halliburton's
product lines and facilities are externally certified in
accordance with ISO 14001 and business requirements. In
2023, 65 Halliburton facilities held ISO 14001 certifications.
SUSTAINABILITY AWARENESS
TRAINING
In 2023, we launched a Company-wide Sustainability
Awareness Training course. The course helps employees build
foundational sustainability-related knowledge and educates
them about Halliburton's guiding principles, commitments,
and the initiatives we have undertaken in pursuit of our
sustainability goals. The course has been completed by
over 90% of our employees. A successful journey toward
our goals includes educating employees about Halliburton's
sustainability focus and progress.
Lab employee in Saudi Arabia
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WATER STEWARDSHIP
Halliburton stewards water in ways that reduce and optimize
our use of water resources. We work internally and collaborate
with our customers on a global scale to reduce, reuse,
and repurpose — or "3R" — fluid resources to the fullest
possible extent.
Halliburton improves water quality, conserves water, and
advances sustainable, cost-effective water management
processes for ourselves and our customers where we are
able. We report water-use data for Company-owned and
Company-leased locations in the U.S., Canada, and most of
Halliburton's global facilities.
Halliburton has established a water-use reduction toolkit that
is available for use at our facilities, which was implemented in
2023 by our top water-consuming facilities in potentially
water-stressed areas. We used our Water Calculator to
establish a water balance for each of these locations. The
calculator helps a facility identify and quantify water sources
used at the site, on-location uses of water, and the site's
wastewater discharges. From this activity, we noticed that
higher volumes of water tend to be required for in-product
uses, auxiliary processes, domestic use, and/or landscape
irrigation. We then used the Water Reduction Plan Template to
evaluate water-use reduction opportunities at our top locations.
This template facilitates the identification and evaluation of
water-use reduction strategies and helps establish site-specific
reduction targets.
Water-use reduction strategies that have resulted from this
process include, but are not limited to, improvements to
leak awareness and identification; replacement or enhanced
maintenance for older water-consuming appliances and
fixtures; adoption of drought-friendly vegetation and
xeriscaping; and implementation of systems that recycle
and reclaim water. In 2023, we continued our engagement
with sites in potentially water-stressed areas to facilitate
improvements and monitor progress against location-specific
reduction targets.
Water Withdrawal
Cubic Meters
2021
2022
2023
1,478,921
1,751,094
1,697,411
Environmental rainwater project in Barrancabermeja,
Colombia
Colombia Team Repurposes
Rainwater
Halliburton Colombia's Real Estate team implemented
team expects rainwater collection and reuse to reduce its
rainwater collection systems at three of our major facilities.
new water use by 120 m3 per year. These efforts support our
The systems feature tanks with a substantial storage capacity
strategy to minimize water use through circularity.
of 10 m3 and enable the team to efficiently collect rainwater
that is then stored and filtered for use in our wash areas. The
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WASTE MANAGEMENT AND
REDUCTION
Halliburton has developed a number of tools that support
waste management and reduction efforts at our facilities.
Our 2023 waste generation data include all manufacturing
locations; all U.S. locations; and any non-U.S. locations with
methods associated with that waste. Another template,
Waste Segregation Posters, provides information on how to
create easy-to-understand posters that guide facility personnel
on proper waste segregation and storage. Halliburton has
also developed a Waste Minimization Decision Guide to help
facilities identify opportunities to prevent, reduce, reuse,
and recycle waste from their highest-volume and
building footprints larger than two acres (8,092 m²) or that
highest-emissions waste streams.
facilitate activities with potential to generate particularly high
levels of waste.
The Waste Data App makes it possible to more accurately
collect and report on waste generation and disposal data.
On a quarterly basis, Halliburton facilities enter data into the
app for each waste stream that is sent offsite for treatment,
storage, disposal, or recycling. The Waste Stream Identification
Template is a step-by-step guide that supports the
identification and classification of different types of waste and
provides guidance on the segregation, handling, and disposal
In early 2023, Halliburton locations that generate large
volumes of waste used one or more of these tools to identify
waste reduction opportunities, set reduction targets, establish
reduction plans, and monitor progress against targets.
Waste Disposal
Metric Tons
2021
2022
2023
305,031
266,006
272,240
Extending the Life of Oil Used
in Our Hydraulic Fracturing
Pump Fleet
In 2023, the Halliburton North America Equipment
Maintenance organization and Production Enhancement
Technology collaborated to maximize oil life for the
internally maintained fleet vehicles. Our goal was to extend
maintenance intervals and minimize waste from hydraulic
fracturing pump oil changes while maintaining service quality
and performance.
The team tested different types and viscosity of transmission
oil. The best oil blend proved able to improve performance
and increase time between rounds of maintenance, which
lengthened oil replacement cycles by 317%. This has reduced
the amount of oil required to service our North America Land
hydraulic fracturing pump fleet by 165,819 gallons per year.
The project helped our team reduce waste, reduce equipment
downtime, and further improve the reliability of
our equipment.
Waste Minimization at Our
Norway Tananger Main Facility
Our Norway Tananger Main Facility implemented a program
in 2023 to segregate waste streams. The program led to a
73% year-over-year reduction in the amount of waste the site
generated per hours worked.
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SOCIAL
Our people are the heart of everything we do at Halliburton. The success of our operations is a result of
the dedication of our exceptional employees, leaders, contractors, and suppliers. Halliburton supports our
employees worldwide through resources including our safety programs, training, competitive benefits, and
career development opportunities.
Halliburton invests in opportunities to support and enhance the economic and social well-being of our
employees' communities. We also rely on the support of our communities, which is why global citizenship is one
of our guiding principles. We work to train and develop local talent, increase economic activity, promote sound
work practices, and share knowledge. Our goal is to educate and inspire the next generation of Halliburton talent.
SAFETY
S1 HEALTH AND
S4 HUMAN
RIGHTS
PEOPLE
S2 OUR
S5 LOCAL
COMMUNITIES
S3 TRAINING AND
DEVELOPMENT
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S1
HEALTH AND
SAFETY
At Halliburton, the safety of our employees and contractors
is our priority. Our long-term safety programs and processes
are tried, tested, and well-established. These programs and
processes are part of our Journey to ZERO. They include
Halliburton Critical Focus Areas (CFAs), Life Rules, Stop Work
Authority (SWA), Management of Change, Significant
Incident Review, and Tiered Assurance. Learn more on the
Health, Safety, Environment (HSE) and Service Quality (SQ)
page of our website.
In 2023, as business activity levels continued to rise,
operational discipline to our Halliburton Management System
(HMS) and focus on execution enabled us to outperform
our industry group HSE indicators and improve our service
quality performance.
JOURNEY TO ZERO
The Journey to ZERO approach to safety and service quality
expresses our commitment to our employees, customers,
and communities. It demonstrates that we prioritize high
standards, embrace challenges, and make no compromises
when we execute on our goals.
Specific Journey to ZERO focus areas shift each year,
but the guiding principles remain consistent:
■
■
■
■
■
■
Leadership commitment
Continuous improvement of the HMS
Training and competency
Communicate and address risks
Technology and process improvement
Verification of our HSE and SQ performance
Our 2023 Journey to ZERO efforts included a continued focus
on risk management, and we completed our first full year
of leadership visit metric tracking. In addition, we tracked
progress on our GHG emissions, waste, and water reduction
efforts, which are highlighted in the Environmental section of
this report. Halliburton completed 100% of our 2023 Journey
to ZERO objectives.
Our Occupational
Safety - Journey to
ZERO Sustainability
Commitments
■ Target outperforming total recordable incident rate and
lost-time incident rate in the International Association of
Drilling Contractors sector benchmarking.
■ Achieve HSE training compliance >95%, driver
competency >95%, and 100% completion of our annual
Journey to ZERO strategic objectives.
Journey to ZERO
Journey to ZERO
Our vision to achieve zero safety
Our vision to achieve zero safety
incidents, zero environmental
incidents, zero environmental
incidents, and zero non-productive
incidents, and zero non-productive
time—every day, on every job.
time—every day, on every job.
Verify
Performance
Verify
Performance
Technology
and Process
Improvement
Technology
and Process
Improvement
Leadership
Commitment
Leadership
Commitment
ZERO
ZERO
Communicate
and Address
Communicate
Risks
and Address
Risks
HMS Continuous
Improvement
HMS Continuous
Improvement
Training and
Competency
Training and
Competency
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RISK MANAGEMENT
Our focus on risk management included the expansion of
Halliburton's in-person 5 Checks to Go and Risk Management
Execution training to all regions globally. To build on our
successful 2022 updates to risk management training in
North America, regional delegates recognized for HSE and
SQ leadership completed a series of Train the Trainer modules
in 2023 to become internally certified Risk Management
5 Checks to Go trainers. Globally, over 3,600 additional
supervisors and frontline personnel completed the training.
When HSE or SQ incidents do occur, our risk management
process helps us embrace the opportunity to learn from
incident investigations. These investigations sometimes
lead to process changes. At other times, they reaffirm
the importance of continued execution on our existing
lines of defense. In 2023, we supported these efforts
with the publication of an HMS guidance document that
standardized the categorization of our lines of defense and
critical verification activities. This document provides a more
consistent approach to using the results of our investigations
to globally prioritize improvement opportunities. At Halliburton,
our lines of defense categories include the industry standard
Life Rules, Critical Focus Areas, and our product service line
control points.
Stop Work Authority (SWA) remains a critically important
part of risk management at Halliburton. Our SWA program
authorizes all employees and contractors to stop a task if they
observe unsafe actions or conditions, or if they have concerns
regarding the controls over an HSE or SQ risk. In 2023,
employee engagement in SWA remained strong, and we saw
a year-over-year increase in the number of SWA observations.
Stop Work Authority Observations
2021
2022
2023
205,868
220,754
234,511
Field employee in west Texas participating in a
risk-mitigation assessment
Halliburton Life Rules
Key Actions to Prevent Serious and
Fatal Injuries
Bypassing Safety Controls
Driving
Hot Work
Safe Mechanical Lifting
Working at Height
Confined Space
0
Energy Isolation
Line of Fire
Work Authorization
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Halliburton's Five Critical
Focus Areas
Well Barriers: Manage well
barriers to prevent uncontained
release of formation fluids
Hydrocarbons to Surface:
Control the well to prevent
unintended flow to the surface
Pressure Control: Control
pressurized systems at all times
Well Proximity: Plan and maintain
non-intersecting drilling trajectories
to avoid a collision
Radiation and Explosives:
Adhere to global and local
regulatory safety requirements at
all times
5 Checks to GO
5 Checks to GO
Starting work is not Step #1
Starting work is not Step #1
1
1
2
2
3
3
4
4
5
5
Review Plan
Review Plan
Verify Readiness
Verify Readiness
What’s Different?
What’s Different?
Validate Controls
Validate Controls
Final Check
Final Check
Indonesia team conducts 5 Checks to Go - an easy approach to safety
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LEADERSHIP VISITS
Leadership visits focus on engagement with frontline
employees to ensure processes are working as intended.
Leaders review the execution of critical verification activities
and gather process improvement feedback. 2023 was the
first full year of use of our leadership visit metric. The focus
on completion of 5 Checks to Go before work begins and use
of our leadership visits to reinforce desired behaviors helped
deliver our year-over-year improvement in total recordable
injury and lost-time recordable injury rates.
HMS AND INDUSTRY STANDARD
CERTIFICATIONS
HMS plays a central role in putting our Journey to ZERO in
action. The standards and work methods that form HMS
define how we work and enable us to address potential
risks inherent in our businesses. HMS incorporates major
management system standards, including those for quality
management (ISO 9001), environmental management (ISO
14001), and health and safety management (ISO 45001).
The system also meets and exceeds requirements of the
industry-specific API standards for manufacturing (API Q1)
and providing services in the oil and gas production sector
(API Q2) and the API RP 75 standard for offshore safety and
environmental management.
In addition to the global verification of HMS through our
internal tiered-assurance program, Halliburton has numerous
locations externally certified to API Q1, API Q2, ISO 9001, ISO
14001, and ISO 45001. Halliburton leads the industry with 35
API Q2-certified facilities located in 13 countries.
2023 Health and Safety Facility Certifications
Certifications
Number of
countries with API
Q1-certified facilities
Number of API
Q1-certified facilities
Number of
countries with API
Q2-certified facilities
Number of API
Q2-certified facilities
Number of ISO 45001
certified facilities
TOTAL
6
18
13
35
48
Western Hemisphere President Mark Richard conducts leadership visit with team in Suriname
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S2
OUR PEOPLE
Halliburton employees form a global team whose members
respect each other. Our workforce is diverse, with 136
nationalities in over 70 countries. Through their work with
Halliburton, our employees gain exposure to a wide variety of
people, projects, and cultures. We take care to provide every
member of our global workforce with a work environment
that is safe and inclusive, opportunities to develop their
careers, and competitive benefits. This environment is
supported by our Code of Business Conduct (COBC) and
employment practices.
Visit the Social page of the Halliburton website to read about
Halliburton's workplace, culture, employee benefits, ethical
employment practices, and compliance with applicable
employment laws.
CULTURE
Halliburton's workplace culture is built upon the foundation
that includes commitment, humility, collaboration, and
exceptional execution. Each employee at Halliburton knows
they belong and that their contributions are valued, which
makes it possible for everyone to perform their best. This
culture draws and retains our talent, serves as the foundation
of our Journey to ZERO, and leads us to develop innovative
solutions to our customers' challenges.
Halliburton employees have access to our job descriptions,
salary bands, and pay structures for a majority of the countries
where we operate. When we equip employees with this
information we help them understand how they can advance
and chart ways to own their careers. Read more about talent
development and succession management in Chapter S3
Training and Development.
Our Diversity and Inclusion
Sustainability Commitment
■ Provide a diverse and inclusive environment that upholds
our core values of collaboration and respect, and provides
all employees opportunities for growth and development.
Female Diversity in STEM Roles
2021
2022
2023
Racial Diversity in STEM Roles (U.S. staff only)
2021
2022
2023
16%
17%
19%
34%
36%
39%
Halliburton's Respect Value
Statement
Respect: We value diversity and equality.
It makes us stronger, more competitive,
and better positioned for success. We are
committed to inclusion across race, gender,
nationality, religion, identity, experience, and
any other unique attribute. We are honest
with ourselves, welcome different viewpoints,
and empower each other to be authentic.
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Our Five ERGs
Women Sharing
Excellence (WSE)
Black Employees Leading in
Inclusion, Excellence, Vision, and
Education (BELIEVE)
Veterans Leadership
Forum (VLF)
iMPACT, a trusted community
for employee engagement,
collaboration, and progression
PRIDE, our LGBTQ+ ERG
EMPLOYEE RESOURCE GROUPS
Halliburton's five Employee Resource Groups (ERG) give
employees opportunities to network and collaborate on
shared interests in certain topics or social causes. We engage
with our ERGs as a way to listen to, empower, and educate
our workforce.
Participation in ERGs is voluntary and open to all Halliburton
employees. ERGs encourage employees to pursue
professional development and play an important role in
fostering a positive and inclusive work environment. See
Chapter S5 Local Communities in this report for 2023 events
in which our ERGs participated.
EMPLOYEE PULSE SURVEY
BELIEVE ERG Recipient of a
2023 Diversity Impact Award
BELIEVE was the recipient of a 2023
Diversity Impact Award®. The Diversity
Impact Awards® are awarded each year by
the Global ERG Network® to "recognize,
honor, and celebrate the outstanding
achievements of ERGs, Business Resource
Groups, and Diversity Councils."
undertake. Leadership is able to conduct higher level analyses
by country and product service line/function to spot trends
and consider larger scale initiatives based on employee input.
84% record-high EPS
response rate
Largest improvement on the following EPS questions:
■
■
■
■
Employees feel they are valued
Employees receive meaningful and timely
performance feedback
Employees are supported in their development
Employees have the tools necessary to perform their
jobs well
GLOBAL BENEFITS
Halliburton provides our employees with competitive global
benefits programs. Our programs are flexible, comprehensive,
and market competitive. We design Halliburton's benefits
packages to address the diverse needs of our employees and
Halliburton's biannual Employee Pulse Survey (EPS) allows
their families. Our packages include programs and services
us to listen to employee perspectives. Employees are invited
that range from comprehensive medical coverage, retirement
to share feedback about their performance, development,
and work-life balance. We invite managers to consider
what improvement opportunities in the work environment
they wish to focus on before the next survey and provide
them with suggestions for actions and training they might
plans, and disability coverage to paid time off, emergency
childcare, and third-party discounts.
Halliburton remains focused on updating benefits programs
to help ensure they are competitive and provide meaningful
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benefits options for employees. Consistent with this objective,
in 2023 we focused on further benefits refinements. For
additional information about our benefits offerings, including
the details of our Family Care Plan, please visit the Social page
of the Halliburton website.
MENTAL HEALTH EDUCATION
AND AWARENESS
Halliburton's Global Employee Assistance Program (EAP)
team expanded employee- and management-focused training
and education opportunities this year. An example of one
such opportunity is our Lessons for Life monthly web series
in which our employees can learn from expert opinions on a
variety of mental health and well-being related subjects. Topics
in 2023 included grief and hope in the COVID-19 pandemic as
well as maintenance of healthy boundaries in the workplace.
2023 Mental Health
Awareness Campaigns
In 2023, Halliburton covered a variety of
topics in our global mental health digital
awareness campaigns that were tailored to
address different regions' specific needs. We
continued to incorporate mental
health-themed safety topics in our safety
moments, and this inclusion further
emphasized how important it is to care for
one's mental health.
Halliburton hosted global campaigns for
Mental Health Awareness Month, World
Sleep Day, and World Mental Health Day
and executed a neurodiversity awareness
campaign in April for Autism Awareness
Month. Through these campaigns, we
delivered messages designed to further
increase mental health awareness among all
of our employees.
RECRUITMENT
Halliburton takes thoughtful action to cultivate a globally
diverse talent pipeline that represents the communities where
we operate. This begins with our investment in science,
technology, engineering, and mathematics (STEM) and oil and
gas programs at schools and universities.
When it comes time to hire early career talent, we rely on
consistent relationships with colleges, universities, and other
organizations that give more visibility to opportunities that are
available at Halliburton. We utilize initiatives such as internship
programs at colleges and universities with underrepresented
populations to build connections among diverse communities,
potential hires, and Halliburton, and to eventually hire full-time
employees who represent the communities in which we work
and live.
Our build-from-within approach to recruitment and training
helps us develop early career talent into future leaders. We
augment this approach with targeted recruitment efforts for
senior-level positions that help introduce specific expertise and
emergent skillsets to Halliburton.
Outreach
Our Global Talent Acquisition team conducts candidate
outreach in a variety of ways that include virtual career fairs,
apprenticeship programs, relationship building efforts at
universities, employee referrals, and partnerships with local
job candidate programs. Halliburton's outreach includes
our efforts to build interest in STEM and oil and gas
careers among students, a strategy that also supports local
workforce development in the areas where we operate. One
example of our STEM-focused outreach in Latin America is
our recruitment efforts with the Development Excellence
Engineer Program (DEEP). Read more about DEEP in the
Local Workforce Development section of this report.
Talent Acquisition
In 2023, Halliburton hired 8,714 new employees. Of our
total hires to STEM roles, 28% were female, a number that
is higher than it was in 2022 and represents our highest
number of female hires to STEM roles at Halliburton since
2010. This number compares favorably to the National
Association of Colleges and Employers female graduation
rates in the degrees we target in our search for new hires.
Promoting female representation in these roles is a key focus
at Halliburton, as our STEM roles tend to lead to operational
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leadership positions. Female representation also continues to
be a strong feature of Halliburton's U.S. internship programs.
The number of female interns at our U.S.-based locations
increased from 53 in 2022 to 73 in 2023.
Rate of New Female Hires in STEM Roles
2021
2022
2023
19%
23%
LOCAL WORKFORCE
DEVELOPMENT
Halliburton invests in local workforce development with the
aim of a positive impact on communities where we work.
One way we do this is by regularly hiring local talent for open
positions. We have made significant progress in recent years.
As of 2023, 91% of our workforce and 85% of managers are
local to the countries where they work.
As Halliburton strengthens investments in local workforces,
28%
we increase our ability to participate in improvements to local
economies. Through job creation, skill advancement, and
career development, we help enhance local quality of life for
employees and their families and strengthen our ability to
cultivate a workforce that represents local populations.
Halliburton welcomes summer interns with weeklong
camp and volunteer activities
PowerToFly
Halliburton's partnership with PowerToFly
has provided us with opportunities to better
tell our story to a global, diverse audience. In
2023, we worked with PowerToFly to recruit
new candidates and host several events
at which Halliburton speakers shared their
experiences and views on opportunities at
Halliburton and within our industry. Through
PowerToFly, almost 400,000 people were
exposed to Halliburton's open positions,
events, or webpage.
Development Excellence
Engineer Program
Halliburton's Development Excellence Engineer Program
is a college graduate recruitment initiative we deploy in
Latin America. DEEP began in 2012 in Brazil and has since
expanded to multiple countries in Latin America. In 2023, we
standardized DEEP's requirements and structure in countries
where it is implemented.
Eligible candidates include STEM students in their last
semester of undergraduate study and/or individuals who
are within 18 months of graduation from a STEM degree.
Participants engage in a four-month development program
and rotate between two product service lines at Halliburton.
Since 2015, over 750 "DEEPers" have completed the program,
of which 387 have been hired full-time. In addition, female
representation has been consistently high. On average, about
43% of DEEP participants are female.
DEEP has played an important role in increasing the number
of STEM hires in Latin America. DEEP has also proven to be
a successful avenue of entry for career longevity as 70% of
DEEP participants hired full-time since 2015 are still working
at Halliburton.
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INVESTMENT IN THE FUTURE
As Halliburton builds a sustainable pipeline of future talent, we
draw talent to our workforce through mentorship programs,
charitable giving, and inclusive hiring practices.
Girls Techno Summer Camp
Halliburton and Prairie View A&M University (PVAMU)
collaborated to host the Girls Techno Summer Camp, a
three-day residential summer camp for high school-aged girls
who are interested in engineering careers. The camp aimed
to teach attendees technical skills, build their confidence,
and inspire them to become engineers and leaders who
will make a difference. Students about to enter their junior
and senior year of high school were eligible to attend. They
learned about design thinking, computer programming, data
science, artificial intelligence, and robotics. We supported
this program with a tour of our headquarters that included
our manufacturing and R&D facilities and by hosting a Q&A
session after the tour.
STEM Saturdays and Academic Mentoring Matters
In 2023, we worked with the University of Louisiana Lafayette
Foundation to host STEM Saturdays and an Academic
Mentoring Matters (AMM) training event for local students.
STEM Saturdays are offered once a month at the Lafayette
Science Museum. Halliburton began to sponsor STEM
Saturdays in 2022 and we continued our support in 2023.
Thus far, this event series has impacted 2,200 students in the
College of Sciences.
We fund an AMM leadership training event every year to
equip volunteer student mentors to be leaders among their
peers. Student mentors have a significant impact on their
campus communities. Our AMM leadership training event
helps prepare students who have elected to serve their
community in this way.
Halliburton volunteers and university students host science project at National Urban League conference in Houston, TX
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S3
TRAINING AND
DEVELOPMENT
Our skilled, knowledgeable employees and the investments
we make in their learning and development are what power
Halliburton's success and growth. To help our employees
excel in their careers and meet personal goals, we provide
industry-recognized, best-in-class employee development
programs, processes, and trainings. We also take action to
cultivate a strong leadership pipeline of experienced talent
who are prepared to help guide Halliburton into the future.
TALENT DEVELOPMENT AND
SUCCESSION MANAGEMENT
Halliburton establishes its talent development and succession
management strategies on a "build from within" philosophy.
We regularly identify and develop new leaders through
intentional identification and training efforts. Our strategy
promotes business continuity, retention, and teamwork, and
maintains a strong competitive advantage when it comes to
both short- and long-term success.
In 2023, female diversity and U.S. racial diversity in various
roles improved. From a 2022 baseline, females in operational
leadership roles increased by 6%; the females in junior
operational leadership roles increased 10%; and the number
of female candidates on replacement charts increased by
14%. In addition, in 2023 in the U.S., our percentage of racial
diversity in management roles improved by 6% compared
to 2022.
To build a robust leadership pipeline, Halliburton Succession
Management identifies the readiness of potential successors
for critical roles. In 2023, we had an 83% internal fill rate for
leadership roles and a 94% internal fill rate for executive-level
positions. Our strong internal fill rate, one of the highest
in the market, directly results from our process to identify
successors and offer tailored development plans.
Technical and Leadership Development
We host processes and programs — such as Hire to Country
Manager (H2CM), HalAcademy, Emerging Leader Process,
and Business Leadership Development (BLD) — to recruit,
Our Skilled and Committed
Workforce Sustainability
Commitment
■ Have a skilled and committed workforce by listening and
responding to our employees’ feedback and committing
to an engaged workforce that feels valued with the right
support and resources to be successful.
train, and promote members of our employee population
who have leadership potential. This approach has facilitated
high retention and continuity among Halliburton talent. It
also promotes teamwork and camaraderie. Employees often
rise through Halliburton together, which gives them shared
experiences they can draw from when they collaborate
to lead.
Hire to Country Manager Process
H2CM is a leadership development track for potential product
service line country managers. This role is an essential
managerial role and critical to Halliburton's success. The
ultimate goal of H2CM is to develop strong, competent
leaders who can help build an even stronger organization. The
program enhances visibility into the internal talent pipeline for
product service line country manager roles and other roles in
the H2CM training process.
Participants are trained in Halliburton's five key competencies
for operational leaders: technical depths, service execution,
customer focus, frontline leadership, and business acumen.
In addition, H2CM is designed to be flexible so employees
can engage according to their own readiness and Halliburton's
available business opportunities.
In 2023, H2CM helped Halliburton increase female
representation in product service line country manager roles
by 47% year over year. In addition, female representation
increased in four out of the five H2CM phases preceding the
country manager role.
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Business Leadership Development Courses
BLD is Halliburton's executive education program. BLD is
one of our most significant investments in the development
of future leaders. It plays an essential role in building our
leadership pipeline and promoting growth. In 2023, BLD
participation increased by 19% with 684 employees engaged
in BLD courses. 53 different nationalities were represented
and 24% of BLD participants were female.
Nationalities represented
in BLD Courses
53
24% Female Diversity
in BLD Courses
HalAcademy
HalAcademy is an annual leadership meeting where
approximately 1,000 employees from Halliburton's global
operations attend. A mix of senior and developing leaders
attend HalAcademy. Attendees receive briefings on the major
company-wide initiatives Halliburton plans to implement in the
next year and training on specific topics in focused
breakout sessions.
In 2023, Halliburton's Chairman, President, and CEO, Jeff
Miller, gave a keynote address, and our Executive Vice
President and CFO, Eric Carre, provided a financial overview.
Other talks and breakouts included a western hemisphere
overview; business development in accordance with the
3 Cs of Business Development; a Drilling and Evaluation
Division update; tips for navigation of international business
relationships; a Completion and Production update; a digital
fireside chat; and a legal update.
Halliburton employees strengthen business and leadership
skills during training in Saudi Arabia
CEO Jeff Miller addresses the Global Business Development
team and acknowledges their accomplishments at internal
sales conference
Senior leadership shares insights with HalAcademy attendees
Employees from multiple regions network at internal
sales conference
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Emerging Leader Process and Frontline Leader
Readiness Assessment
Halliburton developed a targeted Emerging Leader Process
that supports our Succession Management plan. Through this
process, we identify and train employees who demonstrate
high leadership potential who then participate in the Frontline
Leader Readiness Assessment (FLRA) — a formal simulation
facilitated by a leading third-party assessment authority — to
assess their timing-related readiness.
In 2023, more than 400 employees completed assessment
for leadership potential factors and approximately 100
completed FLRA. Once they have completed the FLRA,
participants receive insight on their proficiency, a leadership
coach, and a tailored development plan.
EMPLOYEE-DRIVEN
DEVELOPMENT
AND UPSKILLING
Many of our employee-development and upskilling resources
are designed to empower our people through facilitation of
employee-driven career growth and skills development.
Flexible Learning
Halliburton offers employees educational opportunities in a
variety of formats. Expanding these opportunities to multiple
formats has made our training programs more accessible and
efficient for our global workforce. We have also given individual
employees latitude to engage with learning opportunities in
ways that accommodate their personal situations. Content
ranges from leadership, functional, general business skills,
and technical training related to our products and services
to emerging skills for which we want to build employee
capabilities. In 2023, we delivered more than 62% of our
training in non-traditional classroom environments. Halliburton
also continues to offer robust in-person training opportunities.
Digital Literacy Progress
Halliburton continued to offer digital literacy
education to employees in 2023. Our
digital literacy educational opportunities
help employees develop a fundamental
understanding of how to use digital
resources, and how these resources can
transform how Halliburton works. 9,839
employees completed the full program in
2023. Over 119,000 micro-learning activities
were completed.
We founded the Halliburton Data Science
Academy in 2021 to provide four additional
in-depth programs for specific roles
(namely, Data Analyst, Data Engineer, Data
Scientist, and Machine Learning Engineer).
This initiative continues to expand our data
science capabilities.
Exceptional Training and
Education
For the 11th consecutive year, our
Halliburton Global Competency Assurance
program maintained its status as the only
full-spectrum oilfield services company
competency program globally accredited
by the International Association of Drilling
Contractors (IADC) with no restrictions.
More than 36,000 employees were assigned
competencies in the program, which
focuses on field personnel. It outlines
well-site services expectations and highlights
Halliburton's transparent approach to career
progression for roles in this area.
Frontline leader in the field
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S4
HUMAN RIGHTS
Halliburton respects the dignity and human rights of all people.
In our business operations, we support universal human
rights as defined by the United Nations Universal Declaration
of Human Rights. These values are realized in the diversity of
our global workforce and all of our operations. Halliburton's
policies on health, safety, and security account for human
rights concerns. We comply with all applicable employment
laws and adhere to fair and ethical employment practices.
On the Halliburton website, you can read more about
our human rights practices and beliefs — including our
Human Rights Policy, Human Rights Statement,
Supplier Ethics, and COBC.
HUMAN RIGHTS IN THE
SUPPLY CHAIN
Our Human Rights
Sustainability Commitment
■ Support universal human rights as defined by the United
Nations Universal Declaration of Human Rights through
fair and ethical employment practices and our Code of
Business Conduct.
HUMAN RIGHTS REGULATIONS
As human rights legislation evolves, Halliburton works to
comply with new regulations, such as the Norwegian Supply
Chain Transparency Act. This act requires companies to share
how they work to eradicate human trafficking and modern
slavery in their business and global supply chains, and to detail
the steps they have taken and the controls they have in place
to address human rights risks.
We comply with the UK Modern Slavery Act, the Australia
Modern Slavery Act, and the UN's Universal Guiding Principles
We recognize that responsible supply chain management
on Business and Human Rights. We also monitor and comply
is essential to help promote human rights and follow a
with emergent human rights legislation around the world,
comprehensive due diligence method for our supply chain.
which includes the Uyghur Forced Labor Prevention Act in
For more information about our Human Rights Audits, visit
the U.S., the upcoming EU Act, and the Canadian Human
Chapter G5 Supply Chain Governance in this report.
Rights Act. In Canada, our operations adhere to the United
Nations Declaration on the Rights of Indigenous People. Our
We use a digital supplier management system and several
statements of compliance with these acts can be found on
internally developed tools to screen suppliers for potential
our website. For more information about our Indigenous
human rights risks. These tools and systems include:
relations efforts, visit the Indigenous Inclusion Strategy section
■
An internal human rights dashboard that evaluates
of this report.
supplier risks and helps us identify areas for
detailed follow-up
■ Our cloud-based supply chain monitoring platform, which
allows us to track risk and conduct supplier assessments
in all tiers of suppliers
■
Utilization of the information tracked in our monitoring
platform to develop a pilot supply chain mapping project
■ Our Supply Chain Awareness training course, which was
implemented at the end of 2022 and continued in 2023
■
Third-party Human Rights Audits that cover Workplace
Conditions Assessments, Labor Provider Audits, and
Service Provider Audits
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S5
LOCAL
COMMUNITIES
Halliburton takes action to enhance the economic and social
well-being of the communities in which we operate. The
Halliburton Foundation, the Halliburton Charitable Foundation,
and our Energy to Help™ volunteer program are three
initiatives that deliver support to our local communities. In
addition, we host regular gift-match campaigns in which our
employees donate to charities they choose and we match
a percentage of what they donate. We also encourage
Halliburton employees to donate time to their local
communities as volunteers. Visit the Employee Volunteerism
and Halliburton Foundation Giving Guidelines pages of our
website to learn more.
Volunteer Legacy
As Halliburton engages in volunteer
opportunities that benefit the
communities where we live and work,
we honor the legacy established by our
founder, Earle P. Halliburton. Halliburton
generously supported local charities and
causes in his community. His example of
generosity remains integral to our dedicated
corporate citizenship and commitment
to sustain value for Halliburton, our
stakeholders, and the world.
Our Community
Relationships Sustainability
Commitment
■ Enhance the social value of communities in which
we live and work through effective engagement and
social investment.
HALLIBURTON VOLUNTEERS
Halliburton's volunteerism and charitable activities support
our Four Pillars of Giving: Education, Environment, Health and
Safety, and Social Services. Giving back to the communities
where we live and work is an integral part of our culture.
2023 World Environment Day
The 2023 theme for World Environment Day was
"#beatplasticpollution." Halliburton employees organized
awareness initiatives that included an expansive awareness
campaign in Europe, Eurasia, and Sub-Saharan Africa.
Teams coordinated a collage made by employees' children
that featured artwork about plastic pollution and recycling.
Mairalejandra Infante, a Talent Management Manager and
project coordinator, said, "The main goal of this campaign was
to create a project where we capture the reality of plastic
pollution through the vision of our children."
Prairie View A&M Students and Halliburton employees work together to complete campus clean-up project
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Women's ERG Improves Communities
Rebuilding Together — Houston
Several chapters of WSE, our women's ERG, worked in
Rebuilding Together is an organization that enlists volunteers
2023 to better their communities by engaging in charitable
and licensed contractors to paint, repair, and revitalize
initiatives. These initiatives included a global breast cancer
the homes of veterans, the elderly, people who live with
awareness campaign, a clothing drive for local communities
disabilities, and low-income families. It has done this work
in Malaysia, and a blood donation drive and health awareness
for 35 years. In May, Halliburton's Community Relations
event in India.
team and VLF ERG collaborated with Rebuilding Together to
host two home improvement volunteer opportunities. More
In Angola, WSE members visited a local orphanage to donate
than 80 Halliburton volunteers stepped up to help Rebuilding
personal hygiene products and food, engage in personal
Together accomplish important home repairs for two families
conversations, and offer a mentoring session. The orphanage
in Houston, TX.
accommodates girls between the ages of two and 21. In the
mentoring session, Halliburton volunteers encouraged the
girls to never stop dreaming and to focus on their studies.
Halliburton Team Rides for Research
team's strong bond was evident. It was undoubtedly worth
An eight-person team from Halliburton Jandakot participated
in the 2023 MACA Cancer 200, a two-day, 200 km bike ride.
Tareq Altaj, a Halliburton participant, said the event, "was
an unforgettable journey filled with enjoyment and fun. Our
every moment, and a testament to the incredible work our
team can accomplish when we come together for a
great cause."
Halliburton team rallies to complete a two-day, 200 km bike ride in support of 2023 MACA Cancer 200
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Halliburton Charitable Foundation Golf Tournament
2023 marked Halliburton's 30th year hosting the Halliburton
Charity Golf Tournament. We once again broke our own
fundraising record: in 2023, we raised over $3.8 million on
CORPORATE GIVING AND
EDUCATIONAL ENGAGEMENT
We commit to be good corporate citizens and neighbors. Our
behalf of more than 90 U.S. nonprofit organizations. More than
engagement with education and community helps us stay
400 people participated in the tournament.
true to Halliburton's culture and build trust with our neighbors.
To support our local communities in 2023, Halliburton gave
Since its inception the tournament has raised over $30 million
cash donations and in-kind goods and services. In total, we
for charities, which makes it one of the largest non-PGA golf
donated approximately $1.5 billion in cash and in-kind gifts.
tournament fundraisers in the U.S. The funds raised go to
support causes like hunger relief, veteran home repairs, and
National Urban League Conference
mental health and substance abuse support.
Halliburton sponsored the 2023 National Urban League
Over
$30M
30 Years
Raised Over
(NUL) Conference in Houston, TX, an annual civil rights
event that aims to "advance America's conversation about
justice, opportunity, and the future of democracy." BELIEVE,
Halliburton's Black ERG, organized volunteers and planned
activities to help facilitate the conference.
Myrtle Jones, Halliburton's Senior Vice President of Tax,
BELIEVE executive sponsor, and NUL conference chair, gave
a welcome reception speech that highlighted NUL's positive
impact on our communities. "The National Urban League
is working diligently to achieve a multifaceted community,"
she observed. "What's good for the community is good
for Halliburton."
Halliburton Charitable Foundation hosts annual golf tournament
benefiting local and national charities with support from vendors
Halliburton supported National Urban League conference in
Houston, TX
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Permian Strategic Partnership
Halliburton's Permian Strategic Partnership (PSP) is a coalition
of 27 leading energy companies and higher education
institutions in the Permian Basin. These organizations
collaborate with leaders in the region's communities to help
Little Shop of Physics
them address current and future challenges as they work to
During the 2022-23 EAB cycle, the Halliburton Foundation
responsibly develop the vast oil and natural gas resources in
supported the Little Shop of Physics at Colorado State
the Permian Basin. PSP focus areas include: education, road
University. The grant we provided made it possible for the
safety, healthcare, housing, and workforce development.
Little Shop of Physics team to partner with Native American
Halliburton Foundation Educational Advisory Board
communities to share valuable insights about sciences,
careers, teaching, and culture. They hosted in-person,
The Educational Advisory Board (EAB) is part of the Halliburton
hands-on science experiments for over 5,000 students and
Foundation. Through the EAB, Halliburton awards annual
community members in the course of the academic year.
grants to K-12 and university programs that give students
The team also visited several Native American Reservations,
exposure to STEM and business career opportunities. In
including Wind River Reservation and Pine Ridge Reservation.
the past 10 years, EAB donations have impacted more than
During these visits students experienced over 100 hands-on
900,000 students with over $8.5 million in funding. When it
STEM activities, such as static sensors, rocket balloons, the
selects programs to fund, the EAB focuses on programs that
physics flyer, hand lenses, and LED exploration kits.
demonstrate merit, diversity, and skill development; raise
awareness of future career opportunities for students; and
maximize impact.
Students enjoy hands-on science experiments donated by Halliburton Foundation
Halliburton Landmark In-Kind Giving
the United States, Iraq, and Nigeria. Worldwide, 138 academic
We grant free Halliburton Landmark software licenses to
academic institutions through the Halliburton Landmark
University Grant Program (UGP). These licenses are intended
for use in learning, teaching, and research and include
software maintenance and technical support. They are
evergreen and have three-year renewable terms.
To support the education and development of students
who pursue careers in oil and gas, Halliburton awarded
multi-million-dollar educational software grants to 14 new
public universities in 2023 including in Bolivia, Italy, India,
institutions benefit from this program.
The UGP's aim in awarding grants to students and academics
is to augment teaching and research with industry-leading
software that deepens users' ability to interpret
multidisciplinary datasets. Halliburton Landmark also hopes to
strengthen the relationship between industry and academia,
promote uptake of Halliburton Landmark software, and
equip future generations with the skill sets required to solve
real-world challenges.
Halliburton 2023 Annual & Sustainability Report
Social
56
INDIGENOUS INCLUSION
STRATEGY
and Torres Strait Islander Engagement in Australia. Our
RAP has enabled us to take sustainable, strategic action
toward reconciliation between Halliburton and Australia's
Halliburton designs and executes an Indigenous Inclusion
Indigenous communities.
Strategy. Our Strategy is built on activities like Indigenous-led
cultural awareness training, regional community involvement,
National Reconciliation Week
contracting and workforce initiatives that promote economic
In 2023, Halliburton Australia celebrated National
inclusion, and investment in business opportunities.
Engaging with Indigenous Communities in Canada
Reconciliation Week. We took time to learn about shared
histories, cultures, and achievements, and to explore how
each person can contribute to reconciliation with Indigenous
In Canada, Halliburton's Indigenous Inclusion Strategy
communities in Australia. A group of Halliburton employees
reached its fourth year of implementation in 2023. This year,
and family members attended multiple events, including the
our implementation of this strategy focused on purposeful
Walk for Reconciliation. Walk for Reconciliation participants
engagement with communities. In 2023, Halliburton
attended a Welcome to Country ceremony, walked through
Canada completed Phase Two of the Progressive Aboriginal
Kaarta Koomba (also known as Kings Park), learned about
Relations™ (PAR) certification criteria.
cultural opportunities in the area, engaged in creative
workshops, and attended a performance of traditional
Over time, some of our community engagements have
Aboriginal and Torres Strait Islander dance.
evolved into formal Community Agreements. Each agreement
is shaped by our understanding of and insights about
Inaugural Aboriginal and Torres Strait Islander Traineeship
Halliburton has developed a sustainable paid traineeship
program that allows accepted applicants to learn new job
skills. Participants earn a nationally recognized qualification
certificate in their chosen area of work. This traineeship is one
of the ways Halliburton works to build a diverse, talented,
inclusive workforce. In 2023, Alicia Michael was the first
trainee to successfully complete Halliburton's Aboriginal
and Torres Strait Islander Traineeship program, where she
gained a certificate in Supply Chain Operations. Alicia was an
outstanding addition to the Materials team.
the community it concerns. All agreements identify how
Halliburton can work with local Indigenous communities
to build cross-cultural understanding, effect workforce and
contractor engagement, and pursue community investment
and business development opportunities.
In 2023, as part of Halliburton's Indigenous business
development outreach, Heart Lake First Nation toured our
Artificial Lift operations in Leduc, Alberta. Halliburton
personnel and Nation representatives learned about the work
we do at that location and were able to explore potential
business opportunities.
Aboriginal and Torres Strait Islander
Engagement in Australia
Through Halliburton Australia's Reflect Reconciliation Action
Plan (RAP), Halliburton continues its focus on Aboriginal
Halliburton employees support National Reconciliation Week
Halliburton participants during the Inaugural Aboriginal
and Torres Strait Islander Traineeship
Halliburton 2023 Annual & Sustainability Report
Social
57
APPENDIX
A1 DATA
TABLES
A2 AWARDS AND
RECOGNITION
A3 ABOUT THE
REPORT
Halliburton 2023 Annual & Sustainability Report
Appendix
58
A1
DATA TABLES
Financial Data
2021
2022
2023
Financial Performance (Millions of U.S. Dollars (USD) and Shares, Except Per Share Data)
Revenue
Total Operating Expenses
Operating Income
Income Before Taxes
Amounts Attributable to Company Shareholders:
Net Income Attributable to Company
Basic Income Per Share from Continuing Operations
Diluted Income Per Share from Continuing Operations
Cash Dividends Per Share
Basic Common Shares Outstanding
Diluted Common Shares Outstanding
Net Working Capital
Total Assets
Total Debt
Total Shareholders' Equity
Cash Flows from Operating Activities
Capital Expenditures
Depreciation, Depletion, and Amortization
Total Capitalization
Debt to Total Capitalization
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
15,295
13,495
1,800
1,252
1,457
1.63
1.63
0.18
892
892
5,637
22,321
9,138
6,728
1,911
799
904
15,866
58%
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
20,297
17,590
2,707
2,110
1,572
1.74
1.73
0.48
904
908
5,607
23,255
7,928
7,977
2,242
1,011
940
15,905
50%
In 2023, the amount of net revenue generated by Halliburton in countries that have the 20 lowest rankings on Transparency International’s Corruption
Perception Index comprises less than 1% of the Company’s total revenue.
Research and Development
U.S. Patents Granted Per Year
Total R&D Spend (Million USD)
918
980
$
321
$
345
$
23,018
18,935
4,083
3,363
2,638
2.93
2.92
0.64
899
902
5,935
24,683
7,636
9,433
3,458
1,379
998
17,069
45%
741
408
R&D Spend as a Percentage of Revenue
2.10%
1.70%
1.77%
Patent Efficiency (U.S. Patents Granted Per USD 1M of R&D Spend)
Ranking Among Companies for Total U.S. Patents Granted (by IFI Claims)
Ranking Among Oil & Gas Companies for Total U.S. Patents Granted (by IFI Claims)
Service Quality Metrics
2.35
37th
1st
2.43
37th
2nd
2.40
44th
2nd
Customer Non-Productive Time (NPT) (Percentage of Total Operating Hours)
0.30%
0.27%
0.24%
Halliburton 2023 Annual & Sustainability Report
Appendix
59
Governance Data
Political Contributions (USD)
Local, Regional or National Political Campaigns / Organizations / Candidates
U.S. Federal Lobbying
Trade Associations or Tax-Exempt Groups (e.g., Think Tanks)
Other (e.g., Spending Related to Ballot Measures or Referendums)
Board Information
Average Board Meeting Attendance
Board Independence (Directors)1
Board Racial/Ethnic Diversity (Directors)1
Board Female Diversity (Directors)1
Local Ethics Officer (LEO) Program
Number of Local Ethics Officers
Ethics Training
2021
2022
2023
$
$
$
$
0
287,951
586,560
0
$
$
$
$
0
333,130
652,341
0
$
$
$
$
0
293,891
763,370
0
98%
96%
97%
11
5
3
55
12
6
3
51
12
6
3
51
Total Percentage of the Board of Directors that the Organization’s Anti-Corruption Policies and Procedures
Have Been Communicated To
100%
100%
100%
Training Hours for COBC, Anti-Corruption, and Enhanced Procurement Fraud in Countries Designated as High-Risk
56,689
58,078
60,107
Global Ethics and Compliance Reports
Global Ethics and Compliance Reports
Reports with Potential COBC Violations
COBC Potential Violation Investigations Closed
Procurement
Percentage of Spend with Local Suppliers
Number of Tier 1 Suppliers with Spend
Percentage of Suppliers Assessed in the Last Three Years for Human Rights Risks
Spend with Small and Female Diverse Suppliers (Million USD)
Spend with Minority Suppliers (Million USD)
1. Board information as of publication date.
585
235
236
86%
21,490
99%
481
83
$
$
737
241
242
80%
22,325
99%
801
120
$
$
836
278
228
81%
21,603
99%
795
133
$
$
Halliburton 2023 Annual & Sustainability Report
Appendix
60
Environmental Data
Energy Consumption (GJ)2
Fuel Consumption
Diesel
Natural Gas
Coal
Other (Gasoline, Aviation, and Propane)
Electricity Consumption
Consumed Electricity — Non-renewable
Consumed Electricity — Renewable
Solar PPA
Total
U.S. Hydraulic Fracturing Fluid
2021
2022
2023
39,849,953
35,616,224
39,016,229
4,629,408
6,760,776
8,525,562
654,136
369,708
401,688
362,900
398,619
412,592
2,281,125
4,668,485
11,644,261
36,948
29,010
27,210
39,467
28,043
42,343
47,850,288
47,876,750
60,067,649
Volume of Hydraulic Fracturing Fluid Used (m³)
107,007,954
149,286,113
155,198,364
Percentage of Hazardous Material Used in Hydraulic Fracturing Fluid
0.07%
0.07%
0.07%
Greenhouse Gas Emissions (MTCO2e)
Direct (Scope 1)2
Indirect (Scope 2) - Location-Based2
Indirect (Scope 2) - Market-Based2
Indirect (Scope 3)3
Greenhouse Gas Emissions Intensity (Scopes 1 and 2)
MTCO2e/$M Revenue
MTCO2e/Operating Hours
Waste Disposal (Metric Tons)
Non-Hazardous
Hazardous
Total
Landfill
Recycled
Incineration
Energy Recovery
Reuse
Composting
Deep Well Injection
Other
Total
Water Withdrawal (m³)
Water Withdrawal
Spills and Discharges4
Recordable Environmental Incident Rate (Incidents Per 200,000 Hours Worked)
Total Volume of Spills (m³)
Total Volume of Hydrocarbon Spills >1 bbl (bbl)
3,503,441
3,320,350
3,443,174
251,466
248,949
155,612
245
0.2643
248,619
56,412
406,684
405,114
177,342
184
0.2257
207,479
58,527
845,388
843,376
203,023
186
0.2431
215,919
56,321
305,031
266,006
272,240
72,809
45,327
54,886
200,613
171,276
183,150
12,971
10,247
4,705
1,957
1,506
223
8,035
18,278
8,528
13,821
741
0
5,627
19,694
7,649
634
600
0
305,031
266,006
272,240
1,478,921
1,751,094
1,697,411
0.02
1,058
263
0.02
665
155
0.02
485
312
2. Limited assurance provided by KPMG for 2023. Refer to Statements on Sustainability Metrics and Related Notes for standards, frameworks, definitions,
and/or management determined criteria.
3. Scope 3 reporting includes business travel and waste generated in operations categories. Waste GHG emissions are based on U.S. EPA Emission Factors Hub. In 2021, business
travel GHG emissions are based on GHG Protocol Quantis tool and UK Government GHG conversion factors. In 2022 and 2023, business travel GHG emissions are based on U.S. EPA
Environmentally-Extended Input-Output (USEEIO) factors and UK Government GHG emission factors.
4. We had no significant environmental noncompliance spill incidents and no significant environmental fines.
Halliburton 2023 Annual & Sustainability Report
Appendix
61
Social Data
Total Number of Employees
Total Number of Hours Worked
Certifications
2021
2022
2023
42,172
44,968
47,885
131,305,750
140,290,957
146,120,664
The Percentage of All Employees and Contractors Who Are Covered by an HSE and SQ Management System
The Percentage of All Employees and Contractors Who Are Covered by an HSE and SQ Management System
that has been Internally Audited
100%
100%
100%
100%
100%
100%
The Percentage of All Employees Who Are Covered by an HSE and SQ Management System That Has Been
Audited or Certified by an External Party (API Q1/Q2, ISO 9001, OHSAS 18001/ISO 45001)5
39%
43%
36%
Fatalities
Fatality Rate (Incidents Per 200,000 Hours Worked)
0.000
0.003
0.001
Total Number of Fatalities2
Employees2
Contractors2
Personnel and Process Safety
Total Recordable Incidents
Total Recordable Incident Rate (Incidents Per 200,000 Hours Worked)2
Total Recordable Injuries
Total Recordable Injuries - Employees
Total Recordable Injuries - Contractors
Total Recordable Illness
Total Recordable Illness - Employees
Total Recordable Illness - Contractors
High-Consequence Work-Related Injury — Employees
High-Consequence Work-Related Injury — Contractors
High-Consequence Work-Related Injury — Employee Rate (Incidents Per 200,000 Hours Worked)
High-Consequence Work-Related Injury — Contractor Rate (Incidents Per 200,000 Hours Worked)
Lost-Time Incident Rate (Incidents Per 200,000 Hours Worked)2
Lost-Time Incident Rate - Employees2
Lost-Time Incident Rate - Contractors2
Lost-Time Incidents
Lost-Time Incidents - Employees
Lost-Time Incidents - Contractors
Recordable Vehicle Incident Rate (Incidents Per Million Miles Traveled)
Preventable Recordable Vehicle Incident Rate (Incidents Per Million Miles Traveled)2
Near-Miss Incident Rate (Incidents Per 200,000 Hours Worked)
Stop Work Authority Observations
HSE Driver Competency
Journey to ZERO Strategic Objectives Performance Completion
0
0
0
167
0.25
165
157
8
2
2
0
6
0
0.01
0.00
0.09
0.08
0.01
60
56
4
0.37
0.16
1.52
2
2
0
206
0.29
203
194
9
3
3
0
6
0
0.01
0.00
0.08
0.08
0.00
56
53
3
0.28
0.10
0.49
1
1
0
183
0.25
183
178
5
0
0
0
7
0
0.01
0.00
0.07
0.06
0.01
49
46
3
0.29
0.10
1.41
205,868
220,754
234,511
97%
100%
97%
100%
95%
100%
2. Limited assurance provided by KPMG for 2023. Refer to Statements on Sustainability Metrics and Related Notes for standards, frameworks, definitions, and/or management
determined criteria.
5. Certain 2021 and 2022 numbers were restated based upon changes or improvements to methodologies in collecting the information.
Halliburton 2023 Annual & Sustainability Report
Appendix
62
Social Data
Employee Training
Training Hours Per Learner
HSE Training Compliance
Employee Training Hours
Breakdown of Employee Training (% Male)
Breakdown of Employee Training (% Female)
Number of HSE Training Courses
2021
2022
2023
34
91%
59
93%
71
94%
1,431,684
2,574,710
3,294,626
88%
12%
638
88%
12%
630
87%
13%
636
Total Hours of HSE Training (Employees and Contractors)
705,740
866,227
1,574,780
Total Hours of HSE Training for Employees
Total Hours of HSE Training for Contractors
Business Leadership Development Courses (Number of Attendees)
550,180
712,692
1,404,718
155,560
153,535
170,062
Business Leadership Level I
Business Leadership Level II
Business Leadership Level III
President’s Leadership Excellence Program
Employee Age
Western Hemisphere (Average)
Eastern Hemisphere (Average)
Global / Manufacturing (Average)
Percentage of Employees < 30 years old
Percentage of Employees 30-50 years old
Percentage of Employees > 50 years old
Employee Hiring
Total New Hires
Rate of New Hires
Rate of New Female Hires in STEM Roles
Percentage of Female New Hires by Region
Asia Pacific
Europe / Eurasia / Sub-Saharan Africa
Latin America
Middle East / North Africa
North America Land
U.S. Gulf Coast
Global / Manufacturing
Employee Turnover Rate
Total Employee Turnover Rate
Female Employee Turnover Rate
Male Employee Turnover Rate
Voluntary Employee Turnover Rate
Voluntary Female Employee Turnover Rate
Voluntary Male Employee Turnover Rate
Voluntary STEM Female Turnover Rate
Voluntary STEM Male Turnover Rate
149
104
44
27
39.4
39.4
43.3
13%
71%
16%
6,275
15%
19%
10%
14%
18%
6%
5%
7%
23%
13%
12%
13%
10%
10%
10%
10%
9%
283
169
94
28
39.1
39.6
43.3
15%
68%
17%
10,513
24%
23%
15%
14%
22%
12%
6%
14%
22%
18%
17%
18%
12%
11%
12%
13%
10%
380
177
98
29
39.5
39.7
43.2
16%
67%
17%
8,714
19%
28%
17%
19%
23%
12%
7%
10%
23%
13%
12%
13%
10%
9%
10%
10%
9%
Halliburton 2023 Annual & Sustainability Report
Appendix
63
Social Data
Diversity
Countries in Which We Operate
Nationalities
Female Diversity of Total Workforce2
Female Diversity in All Management Positions, Including Junior, Middle, and Senior Management2
Female Diversity in Senior Management Positions
Female Diversity in Middle Management Positions
Female Diversity in Junior Management Positions (i.e., First Level of Management)
Female Diversity in STEM Roles
Racial Diversity in Workforce (U.S. Staff Only)
Racial Diversity in All Management Positions, Including Junior, Middle, and Senior Management (U.S. Staff Only)
Racial Diversity in Senior Management Positions (U.S. Staff Only)
Racial Diversity in Middle Management Positions (U.S. Staff Only)
Racial Diversity in Junior Management Positions, i.e., First Level of Management (U.S. Staff Only)
Racial Diversity in STEM Roles (U.S. Staff Only)
Percentage of Localized Workforce
Asia Pacific2
Europe / Eurasia / Sub-Saharan Africa2
Latin America2
Middle East / North Africa2
North America Land and U.S. Gulf2
Global / Manufacturing2
Overall2
Employee Engagement (on a 4-Point Scale)
Halliburton Engagement Index (HEI) Rate
Leader Effectiveness Index (LEI) Rate
Charitable Giving (Thousand USD)
In-Kind Donations5
Corporate Giving
Halliburton Foundation
Employee Giving
Total5
2021
2022
2023
70+
130
13%
13%
16%
14%
11%
16%
37%
27%
25%
28%
27%
34%
93%
94%
95%
74%
99%
98%
92%
3.22
3.10
70+
130
13%
13%
16%
14%
12%
17%
40%
29%
26%
31%
28%
36%
93%
92%
95%
75%
100%
98%
92%
3.26
3.14
70+
136
14%
13%
16%
14%
12%
19%
41%
31%
25%
32%
31%
39%
92%
92%
95%
74%
100%
98%
91%
3.29
3.17
$
2,495,240
$
2,291,646
$
1,494,193
$
$
$
3,094
2,296
778
$
$
$
5,069
1,802
744
$
$
$
5,172
2,272
677
$ 2,501,408
$ 2,299,261
$ 1,502,314
2. Limited assurance provided by KPMG for 2023. Refer to Statements on Sustainability Metrics and Related Notes for standards, frameworks, definitions, and/or management
determined criteria.
5. Certain 2021 and 2022 numbers were restated based upon changes or improvements to methodologies in collecting the information.
Halliburton 2023 Annual & Sustainability Report
Appendix
64
GRI Standards Content Index
Halliburton reports the information cited in this GRI content index with reference to the GRI Universal Standards, GRI 11: Oil and
Gas 2021 Sector Standards, and Topic Standards. We account for the requirements and guidelines of GRI 1: Foundation 2021 in the
preparation of this index.
Disclosure
Universal Standards
2-1 Organizational
details
2-2 Entities included
in the organization’s
sustainability reporting
2-3 Reporting period,
frequency and contact
point
Report Location or
External Document
Reference
World Economic
Forum Stakeholder
Capitalism Pillar and
Core Metrics
2023 Form 10-K, Cover
Page, pages 1 & 20;
Company at a Glance,
page 3;
Financial Highlights,
page 4;
About the Report,
page 72
2023 Form 10-K, pages
48 & 162, Exhibit 21.1;
About the Report,
page 72
2023 Form 10-K, Cover
Page;
About the Report,
page 72
2-4 Restatements of
information
About the Report,
page 72
2-5 External assurance
2-6 Activities, value
chain and other
business relationships
About the Report,
page 72;
Statements on
Sustainability Metrics
and Related Notes
2023 Form 10-K, pages
1 & 53
2-7 Employees
2023 Form 10-K, page 4;
2-9 Governance
structure and
composition
2-10 Nomination and
selection of the highest
governance body
2-11 Chair of the highest
governance body
2-12 Role of the highest
governance body
in overseeing the
management of impacts
2-13 Delegation of
responsibility for
managing impacts
2-14 Role of the highest
governance body in
sustainability reporting
Company at a Glance,
page 3
2024 Proxy Statement;
Corporate Governance,
page 14;
Data Tables, page 59
2024 Proxy Statement
2024 Proxy Statement;
Corporate Governance
Guidelines
Corporate Governance
Guidelines;
Engagement, page 11;
Corporate Governance,
page 14
Corporate Governance
Guidelines;
Corporate Governance,
page 14
Corporate Governance
Guidelines;
Corporate Governance,
page 14
2-15 Conflicts of interest
2024 Proxy Statement;
Corporate Governance
Guidelines
2-16 Communication of
critical concerns
Corporate Governance
Guidelines
2-17 Collective
knowledge of the highest
governance body
Corporate Governance
Guidelines
Governance:
Governance body
composition
Governance: Material
issues impacting
stakeholders
Governance: Setting
purpose
Disclosure
2-18 Evaluation of the
performance of the
highest governance
body
2-19 Remuneration
policies
2-20 Process to
determine remuneration
2-21 Annual total
compensation ratio
2-22 Statement
on sustainable
development strategy
2-23 Policy
commitments
Report Location or
External Document
Reference
2024 Proxy Statement;
Corporate Governance
Guidelines
2024 Proxy Statement;
Corporate Governance
Guidelines
2024 Proxy Statement
2023 Proxy Statement;
2024 Proxy Statement
2023 in Review, page 6
Ethics and Compliance,
page 20;
Human Rights, page 52;
Halliburton Corporate
Governance
Website - COBC
2-24 Embedding policy
commitments
Ethics and Compliance,
page 20;
Halliburton Corporate
Governance
Website - COBC
2024 Proxy Statement;
2023 Form 10-K, page 1;
Ethics and Compliance,
page 20;
Halliburton Corporate
Governance
Website - COBC
Ethics and Compliance,
page 20
Data Tables, page 59
2-25 Processes to
remediate negative
impacts
2-26 Mechanisms for
seeking advice and
raising concerns
2-27 Compliance with
laws and regulations
World Economic
Forum Stakeholder
Capitalism Pillar and
Core Metrics
Governance: Protected
ethics advice and
reporting mechanisms
2-28 Membership
associations
Halliburton Policies for
Political Engagement
2-29 Approach
to stakeholder
engagement
Engagement, page 11
Governance: Material
issues impacting
stakeholders
2-30 Collective
bargaining agreements
2023 Form 10-K, page 4
3-1 Process to
determine material
topics
Materiality-Based
Approach, page 9
3-2 List of material
topics
Materiality-Based
Approach, page 9
Sector Standards
Topic 11.1 GHG Emissions
Energy
302-1 Energy
consumption within the
organization
Emissions
Data Tables, page 59
Governance: Material
issues impacting
stakeholders
305-1 Direct (Scope 1)
GHG emissions
Data Tables, page 59
Planet: Greenhouse gas
(GHG) emissions
Halliburton 2023 Annual & Sustainability Report
Appendix
65
Report Location or
External Document
Reference
Data Tables, page 59
World Economic
Forum Stakeholder
Capitalism Pillar and
Core Metrics
Planet: Greenhouse gas
(GHG) emissions
Disclosure
Report Location or
External Document
Reference
World Economic
Forum Stakeholder
Capitalism Pillar and
Core Metrics
403-5 Worker training
on occupational health
and safety
Health and Safety,
page 40
Data Tables, page 59
Planet: Greenhouse gas
(GHG) emissions
403-6 Promotion of
worker health
Disclosure
305-2 Energy indirect
(Scope 2) GHG
emissions
305-3 Other indirect
(Scope 3) GHG
emissions
305-4 GHG emissions
intensity
Data Tables, page 59
Topic 11.2 Climate adaptation, resilience, and transition
Economic Performance
201-2 Financial
implications and other
risks and opportunities
due to climate change
Emissions
2023 Form 10-K, page 9
305-5 Reduction of GHG
emissions
Emissions Reduction
Progress, page 27
Topic 11.4 Biodiversity
Biodiversity
304-2 Significant
impacts of activities,
products and services
on biodiversity
Topic 11.5 Waste
Waste
306-1 Waste generation
and significant
waste-related impacts
306-2 Management of
significant waste-related
impacts
306-3 Waste generated
306-4 Waste diverted
from disposal
Environmental
Management, page 36
Environmental
Management, page 36
Environmental
Management, page 36
Environmental
Management, page 36;
Data Tables, page 59
Data Tables, page 59
306-5 Waste directed to
disposal
Data Tables, page 59
Topic 11.6 Water and effluents
Water and effluents
303-1 Interactions
with water as a shared
resource
303-3 Water withdrawal
Environmental
Management, page 36
Environmental
Management, page 36;
Data Tables, page 59
Topic 11.8 Asset integrity and critical incident management
Effluents and Waste
306-3 Significant spills
Data Tables, page 59
Topic 11.9 Occupational health and safety
Occupational Health and Safety
403-1 Occupational
health and safety
management system
403-2 Hazard
identification, risk
assessment, and
incident investigation
Health and Safety,
page 40
Health and Safety,
page 40
403-3 Occupational
health services
Health and Safety,
page 40
403-4 Worker
participation,
consultation, and
communication on
occupational health and
safety
Health and Safety,
page 40
403-7 Prevention
and mitigation of
occupational health and
safety impacts directly
linked by business
relationships
403-8 Workers covered
by an occupational
health and safety
management system
403-9 Work-related
injuries
People: Health and
Safety (%)
Health and Safety,
page 40;
Our People, page 44
Health and Safety,
page 40
Data Tables, page 59
Health and Safety,
page 40;
Data Tables, page 59
People: Health and
Safety (%)
403-10 Work-related ill
health
Health and Safety,
page 40;
Data Tables, page 59
Topic 11.10 Employment practices
Employment practices
401-1 New employee
hires and employee
turnover
Data Tables, page 59
Prosperity: Absolute
number and rate of
employment
401-2 Benefits provided
to full-time employees
that are not provided to
temporary or part-time
employees
Our People, page 44;
Halliburton
Sustainability
Website - Social
Training and Education
404-1 Average hours
of training per year per
employee
404-2 Programs for
upgrading employee
skills and transition
assistance programs
Data Tables, page 59
People: Training
provided (#)
Training and
Development, page 49
Supplier Social Assessment
414-1 New suppliers
that were screened
using social criteria
414-2 Negative social
impacts in the supply
chain and actions taken
Supply Chain
Governance, page 22;
Data Tables, page 59
Supply Chain
Governance, page 22
Topic 11.11 Non-discrimination and equal opportunity
Training and Education
404-1 Average hours
of training per year per
employee
Data Tables, page 59
People: Training
provided (#)
Diversity and Equal Opportunity
405-1 Diversity of
governance bodies and
employees
2024 Proxy Statement;
Data Tables, page 59
Governance:
Governance body
composition
People: Diversity and
inclusion (%)
Topic 11.12 Forced labor and modern slavery
Forced or Compulsory Labor
409-1 Operations and
suppliers at significant
risk for incidents of
forced or compulsory
labor
Supply Chain
Governance, page 22;
Human Rights, page 52
People: Risk for
incidents of child, forced
or compulsory labor.
Supplier Social Assessment
414-1 New suppliers
that were screened
using social criteria
Supply Chain
Governance, page 22
Halliburton 2023 Annual & Sustainability Report
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66
Disclosure
Report Location or
External Document
Reference
World Economic
Forum Stakeholder
Capitalism Pillar and
Core Metrics
Topic 11.14 Economic impacts
Report Location or
External Document
Reference
World Economic
Forum Stakeholder
Capitalism Pillar and
Core Metrics
Disclosure
Topic Standards
Economic Topics
2023 Form 10-K, pages
1 & 43
Prosperity: Economic
Contribution
Economic Performance
Prosperity: Total tax paid
2023 Form 10-K, page 67
We pay 187% of the
federal minimum wage
in the United States
for all entry-level,
non-exempt employees.
People: Wage level (%)
201-3 Defined benefit
plan obligations and
other retirement plans
Market Presence
202-1 Ratios of standard
entry level wage by
gender compared to
local minimum wage
Environmental Topics
Energy
2023 Form 10-K, page 10
Supplier Environmental Assessment
302-4 Reduction of
energy consumption
Emissions Reduction
Progress, page 27
Governance:
Anti-corruption
Anti-Bribery,
Anti-Corruption, and
Fair Competition,
page 21;
Data Tables, page 59
2024 Proxy Statement
Supply Chain
Governance, page 22
Supply Chain
Governance, page 22
308-1 New suppliers
that were screened
using environmental
criteria
308-2 Negative
environmental impacts
in the supply chain and
actions taken
Social Topics
Child Labor
Economic Performance
201-1 Direct economic
value generated and
distributed
Indirect Economic Impacts
203-1 Infrastructure
investments and
services supported
Local Communities,
page 53
Procurement Practices
204-1 Proportion of
spending on local
suppliers
Data Tables, page 59
Topic 11.20 Anti-corruption
Anti-corruption
205-1 Operations
assessed for risks
related to corruption
205-2 Communication
and training about
anti-corruption policies
and procedures
Sector Standard -
11.20.6
Topic 11.21 Payments to governments
Economic Performance
201-1 Direct economic
value generated and
distributed
201-4 Financial
assistance received
from government
Topic 11.22 Public policy
Public Policy
415-1 Political
contributions
2023 Form 10-K, pages
1 & 43
Prosperity: Economic
Contribution
Prosperity: Total tax paid
2023 Form 10-K, page 59
408-1 Operations and
suppliers at significant
risk for incidents of child
labor
Supply Chain
Governance, page 22;
Human Rights, page 52
People: Risk for
incidents of child, forced
or compulsory labor.
Data Tables, page 59
Halliburton 2023 Annual & Sustainability Report
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67
Sustainability Accounting Standards
Board (SASB) Table
Halliburton is guided by the SASB disclosure topics and metrics within the 2018-10 version Oil & Gas — Services industry per SASB’s
Sustainable Industry Classification System®.
Topic
Accounting Metric
Code
Report Location or External
Document Reference
World Economic Forum
Stakeholder Capitalism
Pillar and Core Metrics
Total fuel consumed, percentage renewable,
percentage used in: (1) on-road equipment and
vehicles and (2) off-road equipment
EM-SV-110a.1
Data Tables, page 59;
About the Report, page 72;
Statements on Sustainability
Metrics and Related Notes
Discussion of strategy or plans to address air
emissions-related risks, opportunities, and impacts
EM-SV-110a.2
Emissions Reduction Progress,
page 27
(1) Total volume of fresh water handled in
operations,
(2) percentage recycled
Discussion of strategy or plans to address
water consumption and disposal-related risks,
opportunities, and impacts
EM-SV-140a.1
EM-SV-140a.2
Environmental Management,
page 36;
Data Tables, page 59
Planet: Water consumption and
withdrawal in water-stressed
areas
Environmental Management,
page 36;
Data Tables, page 59
Volume of hydraulic fracturing fluid used,
percentage hazardous
EM-SV-150a.1
Data Tables, page 59
Emissions
Reduction
Services & Fuels
Management
Water
Management
Services
Chemicals
Management
Discussion of strategy or plans to address chemical-
related risks, opportunities, and impacts
EM-SV-150a.2
(1) Total recordable incident rate (TRIR), (2) fatality
rate, (3) near miss frequency rate (NMFR), (4) total
vehicle incident rate (TVIR), and (5) average hours
of health, safety, and emergency response training
for (a) full-time employees, (b) contract employees,
and (c) short-service employees
EM-SV-320a.1
Workforce Health
& Safety
Environmental Management,
page 36;
Halliburton Sustainability
Website - Environment
Data Tables, page 59;
About the Report, page 72;
Statements on Sustainability
Metrics and Related Notes
Description of management systems used to
integrate a culture of safety throughout the value
chain and project lifecycle
Amount of net revenue in countries that have the
20 lowest rankings in Transparency International’s
Corruption Perception Index
EM-SV-320a.2
Health and Safety, page 40
EM-SV-510a.1
Data Tables, page 59
Description of the management system for
prevention of corruption and bribery throughout the
value chain
EM-SV-510a.2
Ethics and Compliance, page 20;
Anti-Bribery, Anti-Corruption,
and Fair Competition, page 21;
Supply Chain Governance,
page 22
Discussion of corporate positions related to
government regulations and/or policy proposals
that address environmental and social factors
affecting the industry
EM-SV-530a.1
Corporate Governance, page 14;
Public Policy, page 25
Description of management systems used to
identify and mitigate catastrophic and tail-end risks
EM-SV-540a.1
Health and Safety, page 40
Business Ethics
& Payments
Transparency
Management
of the Legal
& Regulatory
Environment
Critical
Incident Risk
Management
Activity Metrics
Total number of hours worked by all employees
EM-SV-000.D
Data Tables, page 59
Halliburton 2023 Annual & Sustainability Report
Appendix
68
United Nations Sustainable Development
Goals Table
The global community adopted the United Nations Sustainable Development Goals (SDGs) in 2015. Halliburton maps our material
sustainability topics, commitments, and relevant metrics to the SDGs in order to assess our alignment with the priorities of policymakers
and other stakeholders.
Halliburton Material Topics
United Nations Sustainable Development Goals
Halliburton Key Performance Indicators
No Poverty
1.
8. Decent Work and Economic Growth
5. Gender Equality
8. Decent Work and Economic Growth
10. Reduced Inequalities
16. Peace, Justice, and Strong Institutions
9. Industry, Innovation, and Infrastructure
4. Quality Education
8. Decent Work and Economic Growth
11. Sustainable Cities and Communities
12. Responsible Consumption and Production
■ Financial Performance Data
■ Board Diversity
■ Board Independence
■ Training Hours for Code of Business Conduct and Anti-Corruption
■ Local Ethics Officer Program
■ Global Ethics Helpline
■ Security Assessments
■ Cybersecurity Training
■ Percentage of Spend with Local Suppliers
■ Spend with Small and Female Diverse Suppliers
■ Supplier Human Rights Assessments
16. Peace, Justice, and Strong Institutions
■ Trade Associations or Tax-Exempt Groups
9. Industry, Innovation, and Infrastructure
16. Peace, Justice, and Strong Institutions
■ Risk Matrix
■ Security Assessments
Financial and Governance
Financial and Economic
Performance
Board Experience and
Diversity
Corporate Governance,
Business Ethics, and
Transparency
Cybersecurity
Supply Chain Human Rights
Legal and Regulatory
Compliance
Enterprise Risk Management
Environmental
Energy Mix
Greenhouse Gas Emissions
Affordable and Clean Energy
7.
9. Industry, Innovation and Infrastructure
13. Climate Action
Affordable and Clean Energy
7.
9. Industry, Innovation and Infrastructure
13. Climate Action
Local Environmental Impact
and Risk Management
13. Climate Action
15. Life on Land
Environmental Stewardship
6. Clean Water and Sanitation
14. Life Below Water
15. Life on Land
Social
Workplace Health and Safety
3. Good Health and Well-Being
Talent Attraction,
Development, and Retention
4. Quality Education
8. Decent Work and Economic Growth
Diversity and Inclusion
Community Relationships
5. Gender Equality
8. Decent Work and Economic Growth
10. Reduced Inequalities
11. Sustainable Cities and Communities
1.
No Poverty
2. Zero Hunger
3. Good Health and Well-Being
4. Quality Education
11. Sustainable Cities and Communities
16. Peace, Justice, and Strong Institutions
17. Partnerships for the Goals
■ Energy Consumption
■ Solar and Renewable Energy
■ Emissions Reduction Target
■ Greenhouse Gas Emissions Intensity
■ Technology Sustainability Matrix
■ Waste Generation and Recycling Rate
■ Recordable Environmental Incident Rate
■ Spill Volume
■ Water Use
■ Spill Volume
■ Waste Disposal Methods
■ Journey to ZERO Strategic Objectives
■ Total Recordable Incident Rate
■ Lost-Time Incident Rate
■ HSE Training Compliance
■ HSE and SQ Management System
■ Employee Hiring and Turnover Rates
■ Employee Engagement
■ Training Hours Per Learner
■ Business Leadership Development Courses
■ President's Leadership Excellence Program
■ Female Diversity and Racial Diversity
■ Percentage of Localized Workforce
■ Spend with Small and Female Diverse Suppliers
■ Charitable Giving
■ Percentage of Localized Workforce
■ Volunteering
■ University Partnerships
Halliburton 2023 Annual & Sustainability Report
Appendix
69
Task Force on Climate-Related Financial
Disclosures (TCFD) Table
Halliburton is guided by the TCFD disclosure topics within the TCFD Final Report: Recommendations of the Task Force on
Climate-Related Financial Disclosures (2017).
Topic
Description
Disclosure
Report Location
Governance
Disclose the organization’s governance around
climate-related risks and opportunities.
a) Describe the board’s oversight of climate
related risks and opportunities.
Corporate Governance, page 14;
Enterprise Risk Management, page 17;
Emissions Reduction Progress, page 27
a) Describe the climate-related risks and
opportunities the organization has identified
over the short, medium and long term.
Emissions Reduction Progress, page 27
Strategy
Disclose the actual and potential impacts of
climate related risks and opportunities on
the organization’s businesses, strategy and
financial planning where such information is
material.
b) Describe the impact of climate-related
risks and opportunities on the organization’s
businesses, strategy and financial planning.
Sustainability Commitments, page 10;
Emissions Reduction Progress, page 27
Risk
Management
Disclose how the organization identifies,
assesses and manages climate-related risks.
c) Describe the resilience of the organization’s
strategy, taking into consideration different
climate-related scenarios, including a 2°C or
lower scenario.
Emissions Reduction Progress, page 27
a) Describe the organization’s processes or
identifying and assessing climate-related risks.
Enterprise Risk Management, page 17;
Emissions Reduction Progress, page 27
b) Describe the organization’s process for
managing climate-related risks.
Emissions Reduction Progress, page 27
a) Disclose the metrics used by the
organization to assess climate-related risks and
opportunities in line with its strategy and risk
management process.
Emissions Reduction Progress, page 27;
Data Tables, page 59
Metrics and
Targets
Disclose the metrics and targets used to assess
and manage relevant climate-related risks
and opportunities where such information is
material.
b) Disclose Scope 1, Scope 2 and, if
appropriate, Scope 3 greenhouse gas (GHG)
emissions and the related risks.
Emissions Reduction Progress, page 27;
Data Tables, page 59
c) Describe the targets used by the
organization to manage climate-related risks,
and opportunities and performance against
targets.
Emissions Reduction Progress, page 27
Halliburton 2023 Annual & Sustainability Report
Appendix
70
A2
AWARDS AND RECOGNITION
TECHNOLOGY AND
INNOVATION AWARDS
2023 Gulf Energy Information Excellence Award
■ Best Deepwater Technology — EarthStar® X Near-bit,
Shallow and Ultra-deep Resistivity Service
2023 Hart’s E&P Meritorious Awards (MEA)
■ StrataStar® Deep Azimuthal Resistivity Service,
Sperry Drilling
American Opportunity Index
■ 2023 Top 10 Leaders in Oil & Gas Sector
2023 Society for Petroleum Engineers
Public Service Award
■ Rahul Patil
HSE AWARDS AND RECOGNITION
NOIA Safety in Seas Awards
■ LOGIX® Autonomous Drilling Platform’s Auto Steer Module,
■ 2023 Safety Practice Award — Risk Management &
Sperry Drilling
5 Checks to Go
■ Fuzion® EH electro-hydraulic downhole wet-mate connector,
Halliburton Completion Tools
2023 Workplace Safety and Health Council with
Singapore Manufacturing Federation
SUSTAINABILITY AWARDS
Dow Jones Sustainability Indices
■ 2023 Dow Jones Sustainability North America Index
S&P Global
■ Workplace Safety and Health Innovation Awards —
Halliburton Completions Mfg. Pte Ltd: Pressure Test Trolley
■ Workplace Safety and Health Awards for Supervisors —
Siva Elumalai & Low Kim Nam
■ Workplace Safety and Health Performance Awards —
Silver Award — Halliburton Completions Mfg. Pte Ltd
■ 2024 Sustainability Yearbook Member based on 2023
2023 OSHA VPP Star Awards
Corporate Sustainability Assessment
COMPANY WORKFORCE AWARDS
ALLY Energy GRIT Awards & Best Energy Workplace
■ 2023 Best Energy Team Award, Halliburton Labs
Forbes
■ Carrollton Manufacturing and Technology —
Carrollton, TX
■ Halliburton Drill Bits — Conroe, TX
■ North Belt Manufacturing — Houston, TX
■ Jet Research Center — Alvarado, TX
■ Duncan Manufacturing — Duncan, OK
■ Lafayette Manufacturing — Lafayette, LA
■ 2023 America's Best Employers by State List - Colorado
ExxonMobil Ruby Award
and Texas
■ 2023 Global 2000 List
Newsweek
■ 2023 America’s Greatest Workplaces
■ 2023 America’s Greatest Workplaces for Diversity
Minority Engineer Magazine
■ 2023 Top 50 Employers list
Saudi Aramco In-Kingdom Total Value Add Award
■ 2023 Best in Training and Development
Global ERG Network — Diversity Impact Awards®
■ 2023 Diversity Spotlight Impact Award — BELIEVE
Employee Resource Group
■ 2023 Global Wells Supplier of the Year
AMCHAM Trinidad and Tobago
■ 2023 Excellence in HSE Award - Halliburton Trinidad Ltd.
Chevron and Kuwait Gulf Oil Company
■ 2023 EHS Performance Award - Halliburton Overseas Ltd.
Abu Dhabi International Petroleum Exhibition
and Conference
■ 2023 Contractor HSE Excellence Award
Halliburton 2023 Annual & Sustainability Report
Appendix
71
A3
ABOUT THE REPORT
THIS REPORT COVERS THE FISCAL PERIOD FROM JANUARY 1, 2023,
TO DECEMBER 31, 2023, FOR GLOBAL HALLIBURTON ACTIVITIES.
Halliburton is a publicly traded corporation registered in
Published date of previous report: April 2023
Delaware and headquartered in Houston, TX. There were
no significant changes to the structure or ownership of the
Reporting cycle: Annual restatements of previously reported
Company in 2023. The data in this report encompasses
information are indicated where necessary throughout
our product service lines, countries, joint ventures, and
the report.
non-wholly-owned subsidiaries.
This report contains descriptions of our 2023 sustainability
externally assured in its entirety. KPMG has provided
initiatives, unless otherwise noted. Wherever possible,
limited assurance on certain metrics in the Statements on
assessments of performance trends from 2021 to 2023 are
Sustainability Metrics and Related Notes as notated in the
The 2023 Annual & Sustainability Report has not been
provided to better highlight the significance of trends over
appendix data tables.
time. Topics covered in this report are those most pertinent
to our business sector, and they arise from the context and
Your feedback is valued. Please send any comments,
expectations of the sector. The boundaries of this report
questions, or suggestions about our 2023 Annual &
correspond to those of the Company’s 2023 Form 10-K. The
Sustainability Report to: sustainability@halliburton.com
data included in this report comes from the Company’s official
or investors@halliburton.com
management and reporting systems for the various functions
described in this document.
Halliburton's 10-K and Proxy Statements are referenced in
this report, which can be found on our website under
The 2023 Annual & Sustainability Report is prepared
Investors - Annual Reports and Proxies. You can also read our
with reference to the Global Reporting Initiative (GRI)
Corporate Governance Guidelines on our website.
standards. We also follow the reporting guidelines and
terminology of the International Petroleum Industry
To request additional copies of the report, please go to:
Environmental Conservation Association and the Sustainability
www.ir.halliburton.com/shareholder-services/ investor-toolkit.
Accounting Standards Board (SASB) as well as take into
consideration the Task Force on Climate-Related Financial
Disclosures (TCFD) recommendations. We have mapped
our material sustainability topics, commitments, and relevant
metrics to the United Nations Sustainable Development
Goals and applicable World Economic Forum’s core set
of Stakeholder Capitalism Metrics. We provide annual
information to the S&P Global Corporate Sustainability
Assessment (CSA), CDP, and other organizations that assess
companies for sustainability performance.
Halliburton 2023 Annual & Sustainability Report
Appendix
72