Halliburton and Optime Subsea Form Global Alliance

Rhea-AI Summary

Halliburton Company (NYSE: HAL) has partnered with Optime Subsea to enhance its completion landing string services with innovative subsea technology. This global alliance will utilize Optime's Remotely Operated Controls System (ROCS) and Subsea Controls and Intervention Light System (SCILS) to improve operational efficiencies and safety risk mitigation in deepwater completions. The collaboration aims to deliver umbilical-less operations, providing a cost-efficient solution for customers while reducing the operational footprint and setup time.

Positive

• Strategic alliance with Optime Subsea enhances subsea technology services.
• Utilization of innovative ROCS and SCILS technologies aims to improve operational efficiency.
• The partnership promises to enhance safety by reducing the offshore operational footprint.

Negative

• None.

Halliburton Company (NYSE: HAL) and Optime Subsea today announced they formed a global strategic alliance to apply Optime’s innovative Remotely Operated Controls System (ROCS) to Halliburton’s completion landing string services. The companies will also collaborate and offer intervention and workover control system services leveraging Optime’s Subsea Controls and Intervention Light System (SCILS) technology, a remote digital enabled system that compliments Halliburton’s subsea intervention expertise.

The alliance will provide umbilical-less operations and subsea controls for deepwater completions and interventions delivering increased operational efficiencies while minimizing safety risk through a smaller offshore footprint. Halliburton will offer Optime’s innovative technologies as a service across its global portfolio.

“We are excited to work with Optime and leverage their technologies within our existing subsea completions and intervention solutions,” said Daniel Casale, vice president of Testing and Subsea. “Our alliance advances remote capabilities and provides a capital efficient solution, allowing customers to reduce safety risk, operational footprint, setup and run-time.”

“We believe that strong mutual alliances across the vertical supply chain drives continuous improvements needed in our industry,” said Jan-Fredrik Carlsen, CEO of Optime Subsea. “By solidifying this relationship with Halliburton and combining their well-established, reputable service and technology capabilities with Optime’s innovative controls and intervention technology, more customers will have access to these cost-efficient subsea solutions.”

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 80 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 Optime Subsea

Founded in 2015, Optime is an innovative and globally leading technological provider of subsea controls and intervention systems. With its headquarter in Notodden, Norway, and international office in Houston, TX, USA, it is a fully integrated system and services provider with all of the capabilities to optimize subsea well interventions and completions operations. Within this segment, their capabilities are delivering quick to market solutions, further reducing cost, size and improving operational efficiency – simplifying subsea (www.optimesubsea.com).

View source version on businesswire.com: https://www.businesswire.com/news/home/20210407005539/en/

FAQ

What is the new partnership announced by Halliburton and Optime Subsea?

Halliburton and Optime Subsea announced a global strategic alliance to enhance subsea technology services.

How will the partnership between Halliburton and Optime Subsea benefit customers?

The partnership will provide cost-efficient subsea solutions, improving operational efficiencies and reducing safety risks.

What technologies are being utilized in the Halliburton and Optime Subsea collaboration?

The collaboration will utilize Optime's Remotely Operated Controls System (ROCS) and Subsea Controls and Intervention Light System (SCILS).

What is the significance of umbilical-less operations for Halliburton?

Umbilical-less operations will enable Halliburton to deliver deepwater completions with a reduced operational footprint, enhancing safety and efficiency.