Petrobel Selects Halliburton Landmark to Design and Deliver Cloud Solution for E&P Applications

Rhea-AI Summary

Halliburton Company (NYSE: HAL) announced the contract awarded by Petrobel, a joint venture of ENI and the Egyptian General Petroleum Corporation, to implement the iEnergy® Stack. This cloud solution aims to enhance digital transformation and streamline petrotechnical software applications, thereby reducing total ownership costs. The iEnergy® Stack is built to accelerate workflows with large datasets and supports collaborative exploration and production (E&P) processes. The initiative marks a significant step in Petrobel's journey towards improved efficiency.

Positive

• Awarded contract to deploy iEnergy® Stack enhances digital transformation for Petrobel.
• iEnergy® Stack reduces total cost of ownership and simplifies application management.
• Accelerates E&P workflows, significantly improving operational efficiency.

Negative

• None.

iEnergy^® Stack enables digital transformation to reduce total cost of ownership

HOUSTON--(BUSINESS WIRE)-- Halliburton Company (NYSE: HAL) today announced that Petrobel, a joint venture between ENI and the Egyptian General Petroleum Corporation, awarded a contract to deploy iEnergy^® Stack, Halliburton’s cloud solution that runs on-premise, to manage petrotechnical software applications. The solution delivers DecisionSpace^® 365 cloud-based subscription services and supports operators’ and third-parties’ applications.

Building a private cloud infrastructure is a crucial first step in Petrobel’s digital transformation and data residency requirements. The iEnergy^® Stack accelerates interpretation workflows, especially the ones involving large data sets, and enables agile and collaborative E&P workflows.

iEnergy^® Stack is based on Halliburton’s proven E&P cloud delivery that helps ensure the most optimal configuration of computing and storage elements to deliver a ready-to-deploy private cloud infrastructure. It provides a single, unified experience for end users and system administrators for all energy applications. This greatly reduces total cost of ownership and the complexity of managing numerous applications compared to the past.

“Halliburton continues to advance computing to accelerate the digital journey and lower total cost of ownership for our customers,” said Nagaraj Srinivasan, senior vice president of Landmark, Halliburton Digital Solutions and Consulting. “We look forward to working with Petrobel to improve their efficiency and maximize asset value by optimizing their E&P infrastructure.”

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/20220308005725/en/

For Investors:

David Coleman

Investor Relations

investors@halliburton.com

281-871-2688

For News Media:

Emily Mir

External Affairs

pr@halliburton.com

281-871-2601

Source: Halliburton Company

FAQ

What is the iEnergy® Stack solution provided by Halliburton?

The iEnergy® Stack is a cloud solution designed to manage petrotechnical software applications, facilitating digital transformation and reducing ownership costs.

Which company awarded Halliburton the contract for the iEnergy® Stack?

The contract was awarded by Petrobel, a joint venture between ENI and the Egyptian General Petroleum Corporation.

How does the iEnergy® Stack benefit Petrobel?

The iEnergy® Stack accelerates interpretation workflows and supports collaborative exploration and production processes, ultimately enhancing operational efficiency.

What is the significance of the contract for Halliburton's stock (HAL)?

The contract signifies Halliburton's ongoing role in energy sector advancements, which could positively influence investor perception and stock performance.