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Halliburton and Aker BP Collaborate to Develop Next Generation Field Development Planning

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Halliburton Company (NYSE: HAL) and Aker BP announced a collaboration to develop a new cloud application called Field Development Planning (FDP). This next-generation software aims to transform field development planning by automating data collation and enhancing efficiency in the decision-making process. Built on the OSDU Data Platform, FDP will provide a unified audit trail and improve risk assessment in field development. The partnership strengthens their strategic relationship, focusing on digital transformation and maximizing asset returns.

Positive
  • Collaboration with Aker BP on innovative Field Development Planning software.
  • FDP automates data collation, improving efficiency and audit transparency.
  • Enhances decision-making for subsurface and reservoir/production operations.
  • Builds on existing successful collaborations in well construction and planning.
Negative
  • None.

Companies to implement first-of-its-kind digital twin for field development

HOUSTON--(BUSINESS WIRE)-- Halliburton Company (NYSE: HAL) today announced that it and Aker BP, a Norwegian oil and gas exploration and production company, will co-develop next generation field development planning software. The collaboration delivers a new cloud application – Field Development Planning (FDP) – from Halliburton. It also expands the scope of the current Digital Well Program®, a DecisionSpace® 365 cloud application, built on an open architecture to provide integrated well planning and design to increase collaboration and connectivity across drilling activities.

Halliburton Chairman, President & CEO Jeff Miller and Aker BP CEO Karl Johnny Hersvik agree to extend the companies' collaboration to develop a cutting-edge intelligent system to evolve field development planning. (Photo: Business Wire)

Halliburton Chairman, President & CEO Jeff Miller and Aker BP CEO Karl Johnny Hersvik agree to extend the companies' collaboration to develop a cutting-edge intelligent system to evolve field development planning. (Photo: Business Wire)

Built on the OSDUTM Data Platform, FDP converts the manual process of collating field development data to make the decision gate process more efficient and auditable and provides a common audit trail across the subsurface community. FDP helps organizations better understand uncertainty and risks associated with field development concepts.

“We are excited to extend our close collaboration with Aker BP and develop a cutting-edge intelligent system to evolve field development from the manual FDP process that exists in most enterprises,” said Halliburton Chairman, President and CEO Jeff Miller. “FDP creates a holistic view of field development and well construction, which will allow Aker BP to make more informed and expediated subsurface and reservoir/production decisions to optimize its investment and maximize the return on its assets.”

“Aker BP aims to be fully digital and nearly fully automated towards the end of this decade. We are creating an ecosystem where work processes are seamlessly integrated, and data is flowing without friction. Halliburton is a key partner in this strategy. FDP will give us the ability to increase efficiency, maximize value and make data-driven decisions for entire field concepts. Furthermore, we will then understand and mitigate risk and uncertainty on a whole new level,” said Karl Johnny Hersvik, CEO of Aker BP. “Keeping different development scenarios in place for future use gives us a cutting-edge capability to understand how engineering work matures during the development phases. It will make it possible to collaborate and drive transparency across the assets as never seen before in the industry.”

Halliburton and Aker BP build on a close and collaborative strategic relationship over many years.

“Together we are already revolutionizing well construction through transformative expertise, agile processes and game changing technology. We have successfully implemented Collaborative Well Planning for optimal well placements, reduced risk and increased resources. We are close to designing a well in a day with high quality in the open Digital Well Program built on Halliburton’s iEnergy solution. With Field Development Planning we are accelerating our digital transformation to the next level,” said Tommy Sigmundstad, senior vice president of Drilling and Wells for Aker BP.

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

About Aker BP

Aker BP is an independent E&P company with exploration, development and production activities on the Norwegian Continental Shelf. Aker BP is the operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The company is also a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker ‘AKRBP’. More about Aker BP at www.akerbp.com.

For Halliburton

Investors:

David Coleman

Investor Relations

investors@halliburton.com

281-871-2688

News Media:

Emily Mir

External Affairs

pr@halliburton.com

281-871-2601

For Aker BP

News Media:

Ole Johan Faret

Media spokesperson

ole-johan.faret@akerbp.com

+47 402 24 217

Source: Halliburton Company and Aker BP

FAQ

What is the new software developed by Halliburton and Aker BP?

The new software is called Field Development Planning (FDP), a cloud application aimed at transforming field development planning.

How will the Field Development Planning software impact Halliburton's operations?

FDP will automate data collating processes, enhancing efficiency and providing a common audit trail, ultimately leading to better decision-making.

What is the significance of the partnership between Halliburton and Aker BP?

The partnership aims to leverage digital transformation to maximize asset returns and improve operational efficiency in the oil and gas sector.

When was the partnership between Halliburton and Aker BP announced?

The partnership was announced on May 23, 2022.

What technology does the Field Development Planning software utilize?

The software is built on the OSDU Data Platform, which supports integrated data management and decision-making.

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