Halliburton Installs First Downhole Electro-Hydraulic Wet-Connect in Deepwater Brazil

Rhea-AI Summary

Halliburton Company (NYSE: HAL) has achieved a milestone by installing the first single trip, electro-hydraulic wet connect in deepwater for Petrobras in Brazil. This innovative Fuzion® EH connector enhances the integrity of SmartWell® completion systems, improving well recovery factors and simplifying intervention operations. The company plans to develop a dual trip system version for Petrobras later in 2023. With 1,400 SmartWell systems globally, Halliburton reinforces its leadership in completions technology, emphasizing collaboration with Petrobras and Shell in their Brazilian operations.

Positive

• Successful installation of the first single trip electro-hydraulic wet connector increases operational efficiency.
• Collaboration with Petrobras and Shell demonstrates strong partnerships in technology development.
• Fuzion® EH connector enhances well recovery and reduces potential formation damage.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Halliburton Company (NYSE: HAL) today announced a successful installation of the industry’s first single trip, electro-hydraulic wet connect in deepwater for Petrobras in Brazil – a significant achievement in downhole electric completion technology. The Halliburton Fuzion^® EH electro-hydraulic downhole wet-mate connector helps increase well recovery factors by maintaining integrity of Halliburton’s SmartWell^® completion systems throughout the well’s lifecycle.

The Fuzion-EH connector helps further facilitate safer and simpler intervention operations and avoids potential formation damage because of workover operations. Halliburton plans a future version of a dual trip system Fuzion-EH connector for qualification and implementation by Petrobras in 2023. This system will provide additional benefits in SmartWell system installations while maintaining the benefits of the single trip system.

“The Fuzion-EH connector is the first step in the fully electric intelligent completion journey and is a product of collaborative development with Petrobras and Shell,” said Mark Dawson, vice president of Halliburton Completion Technology, Halliburton. “This achievement paves the way for us to give customers the autonomous capability to control and manage reservoirs across their wells and assets and deliver on our Future of Completions^®.”

“This significant well technology development marks the first single trip, multiple zones, open hole completion. It was a remarkable example of teamwork, partnership and technical collaboration between operators and Halliburton in the Brazilian ecosystem. This technology’s first application was enabled using the ANP Levy,” said Olivier Wambersie, general manager Brazil Technology, Shell.

As a global completions leader, Halliburton has pioneered the development and deployment of SmartWell system technology for 25 years. To date, Halliburton has installed almost 1,400 SmartWell systems globally and over 100 in Brazil, providing our global customers control of more than 3,000 zonal intervals.

ABOUT HALLIBURTON

Halliburton is one of the world's leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Visit us at www.halliburton.com and connect on Facebook, Twitter, LinkedIn, Instagram and YouTube.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221128005734/en/

Investor Relations Contact

David Coleman

investors@halliburton.com

281-871-2688

Press Contact

Erin Fuchs

pr@halliburton.com

281-871-2601

Source: Halliburton Company

FAQ

What is the recent achievement of Halliburton Company (HAL) in Brazil?

Halliburton has installed the first single trip, electro-hydraulic wet connect for Petrobras, enhancing downhole electric completion technology.

How does the Fuzion® EH connector benefit well recovery?

The Fuzion® EH connector maintains the integrity of SmartWell® systems, improving recovery factors throughout the well's lifecycle.

What are Halliburton's plans for the Fuzion-EH connector in 2023?

Halliburton plans to develop a dual trip system version of the Fuzion-EH connector for Petrobras.

How many SmartWell systems has Halliburton installed globally?

Halliburton has installed approximately 1,400 SmartWell systems worldwide, with over 100 in Brazil.

Who collaborated with Halliburton on the Fuzion-EH connector?

The Fuzion-EH connector was developed in collaboration with Petrobras and Shell.