Halliburton contract balooning

[k hanly <khanly@xxxxxxxxxxxxxxx>]

IN BRIEF / ENERGY
Halliburton's Contract May Exceed Estimates

  http://www.latimes.com/la-fi-rup13.9jun13,0,2518514.story

>From Associated Press


Halliburton Co.'s no-bid contract to revive Iraq's oil industry may last
longer than originally estimated, the Army has acknowledged, and the
contract's cost to the government has more than doubled in the last month.

The U.S. Army Corps of Engineers this week backed off a projection that a
fully competitive replacement contract would be awarded by August.

There will be no second contract if the oil restoration mission is finished
before another firm can take over, or if the Iraqis make their own
arrangements for the services, the corps said.

As the Army delays its decision, the government cost of the noncompetitive
work awarded to Vice President Dick Cheney's former company is ballooning.
The total last week was $184.7 million, up from $76.7 million a month ago,
according to Army figures.