Halliburton to Provide Petroleum Data Management Platform for Norwegian Petroleum Directorate

Rhea-AI Summary

Halliburton Company (NYSE: HAL) has signed an eight-year contract with the Norwegian Petroleum Directorate (NPD) to manage Diskos, Norway's national repository of oil and gas seismic, well, and production data. The project will utilize Diskos 2.0, built on DecisionSpace® 365 cloud services, enabling efficient data access and analysis. This collaborative effort aims to enhance reservoir recovery and exploration outcomes through machine learning and artificial intelligence, ultimately maximizing asset value in the region.

Positive

• Secured an eight-year contract with NPD for Diskos management.
• Utilization of DecisionSpace® 365 cloud services enhances operational efficiency.
• Incorporation of machine learning and AI to improve reservoir insights.

Negative

• None.

Halliburton Company (NYSE: HAL) today announced it signed an eight-year contract with the Norwegian Petroleum Directorate (NPD) to deploy and operate Diskos, the Norwegian national repository of seismic, well, and production data for the oil and gas industry.

Halliburton Landmark will deliver Diskos 2.0 using DecisionSpace® 365 cloud services in iEnergy® – the industry’s first E&P hybrid cloud. The cloud native services are Open Subsurface Data Universe™ compliant and provide high quality data, security and governance so users can easily access, visualize, and interpret data from the Norwegian Continental Shelf.

The open architecture and scalability of the service enables workflows across the repository and operator systems on premise, or in the cloud, to support efficient, effective and agile operations. Diskos 2.0 will use the DecisionSpace 365 cloud applications to apply machine learning and artificial intelligence to unlock the full value of subsurface data by revealing additional basin, reservoir, drilling, and production insights to improve reservoir recovery and exploration outcomes.

“We are excited to deliver this new level of service for Diskos in collaboration with operators and the extended ecosystem to create an unparalleled experience,” said Nagaraj Srinivasan, senior vice president of Landmark, Halliburton Digital Solutions and Consulting. “Consistent with Halliburton’s digital strategy, our secure cloud environment, machine learning algorithms, and data science expertise will help operators in the region maximize their asset value.”

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210412005016/en/

FAQ

What is the significance of Halliburton's contract with the NPD?

The contract allows Halliburton to manage Diskos, enhancing data access and operational efficiency in the Norwegian oil and gas sector.

How will Diskos 2.0 improve operations for Halliburton?

Diskos 2.0, using DecisionSpace® 365, provides advanced data analysis capabilities through cloud services, improving reservoir recovery and exploration.

What technologies are being implemented in Diskos 2.0?

Diskos 2.0 incorporates machine learning and artificial intelligence to extract deeper insights from subsurface data.

What is Halliburton's role in the Norwegian Continental Shelf?

Halliburton is tasked with deploying and operating Diskos, centralizing seismic, well, and production data for better resource management.