Chairman Halliburton and Founder Clean Gulf Consortium.
Award Motivation
For his contribution to the development of the energy industry and careful stewardship of the offshore environment.
Award details
Edward L. Paramore was the former President and Vice Chairman of the Halliburton Company. Mr Paramore began working for Halliburton at the age of 20 as a truck driver. He was initially assigned to the company’s New Orleans office; however after performing Halliburton’s first offshore well treatment he was promoted to company’s headquarters. He continued to progress in the company due to his innovative business ideas and ability to increase the company’s profit margins. One such example of this was when he led the development of a complete line of well servicing equipment and techniques that were specifically designed for off shore drilling. Importantly, Mr Paramore also took into consideration the impact that oil drilling would have on the environment and whilst maintaining the company’s profits he introduced the Clean Gulf Consortium. The operation continues today and involves a non-profit cooperative alliance between drilling companies whose goal is to prevent environmental incidents and incur a quick response team to remediate any incidents should they occur. Mr Paramore’s model of environmentalism for drilling has become a model for other companies and is consistently used throughout the world today. Mr Paramore also assisted technically to offshore drilling by creating and pushing for such systems as skid-mounted pressure pumping and cementing equipment, well-testing units, bulk handling equipment, sand control and improved techniques for fighting offshore blowouts and well fires.