Petrofac Signs Contract for Halliburton DecisionSpace® 365
Halliburton Company (NYSE: HAL) has signed a three-year contract with Petrofac to implement the Digital Well Program, a DecisionSpace 365 cloud application aimed at automating drilling, completions, and engineering processes. This innovative program leverages artificial intelligence and machine learning to enhance Petrofac's well engineering services, aligning with their digital strategy to minimize non-productive time and improve efficiency. The collaboration is expected to deliver unique value to customers by integrating well engineering and productivity tools within the cloud.
- Three-year contract with Petrofac enhances Halliburton's market position in digital solutions.
- Introduction of AI and machine learning in well engineering services could lead to significant operational efficiencies.
- The Digital Well Program facilitates the integration of customized solutions, increasing competitiveness.
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Halliburton Company (NYSE: HAL) today announced it signed a contract with Petrofac, an international service provider to the energy industry, to adopt Digital Well Program®, a DecisionSpace® 365 cloud application to automate drilling, completions, and engineering processes.
Powered by the iEnergy® Hybrid Cloud, the Digital Well Program provides the industry’s only integrated digital well program software. It is based on open architecture to enable flexibility so users can co-innovate and create customized solutions to plan, design, and deliver cost-effective and productive wells.
The three-year contract will enable Petrofac to incorporate artificial intelligence, machine learning, and data science to optimize its well engineering service offering. The agreement is part of Petrofac’s digital strategy to significantly reduce non-productive time and drive efficiencies across its global operations.
“DecisionSpace365 enables Petrofac to combine well engineering with productivity tools in the cloud to deliver unique value to their customers. We look forward to collaborating with Petrofac to support their digital transformation journey,” said Nagaraj Srinivasan, senior vice president of Landmark, Halliburton Digital Solutions and Consulting.
“By combining our decades of well engineering experience with the latest digital technology, such as Halliburton’s iEnergy Hybrid Cloud and Digital Well Program, we will drive further efficiencies for our clients,” said Nick Shorten, chief operating officer of Petrofac Engineering and Production Services.
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.
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