Aker BP and Halliburton Company (NYSE: HAL) today announced that the companies
will co-develop next generation field development planning software. The
collaboration delivers a new cloud application - Field Development Planning
(FDP) - from Halliburton.
It also expands the scope of the current Digital Well Program®, a
DecisionSpace® 365 cloud application, built on an open architecture to provide
integrated well planning and design to increase collaboration and connectivity
across drilling activities.
Built on the OSDU[TM] Data Platform, FDP converts the manual process of
collating field development data to make the decision gate process more
efficient and auditable and provides a common audit trail across the subsurface
community. FDP helps organizations better understand uncertainty and risks
associated with field development concepts.
"We are excited to extend our close collaboration with Aker BP and develop a
cutting-edge intelligent system to evolve field development from the manual FDP
process that exists in most enterprises," Halliburton Chairman, President and
CEO Jeff Miller. "FDP creates a holistic view of field development and well
construction, which will allow Aker BP to make more informed and expediated
subsurface and reservoir/production decisions to optimize its investment and
maximize the return on its assets."
"Aker BP aims to be fully digital and nearly fully automated towards the end of
this decade.?We are creating an ecosystem where work processes are seamlessly
integrated, and data is flowing without friction. Halliburton is a key partner
in this strategy. FDP will give us the ability to increase efficiency, maximize
value and make data-driven decisions for entire field concepts. Furthermore, we
will then understand and mitigate risk and uncertainty on a whole new level,"
said Karl Johnny Hersvik, CEO of Aker BP.
"Keeping different development scenarios in place for future use gives us a
cutting-edge capability to understand how engineering work matures during the
development phases. It will make it possible to collaborate and drive
transparency across the assets as never seen before in the industry."
Halliburton and Aker BP build on a close and collaborative strategic
relationship over many years.
"Together we are already revolutionizing well construction through
transformative expertise, agile processes and game changing technology. We have
successfully implemented Collaborative Well Planning for optimal well
placements, reduced risk and increased resources. We are close to designing a
well in a day with high quality in the open Digital Well Program built on
Halliburton's IEnergy solution. With Field Development Planning we are
accelerating our digital transformation to the next level," said Tommy
Sigmundstad, senior vice president of Drilling and Wells for Aker BP.
About Aker BP
Aker BP is an independent E&P company with exploration, development and
production activities on the Norwegian Continental Shelf. Aker BP is the
operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The
company is also a partner in the Johan Sverdrup field. Aker BP is headquartered
at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker
'AKRBP'. More about Aker BP at www.akerbp.com.
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 (https://www.facebook.com/halliburton),
Twitter (https://twitter.com/Halliburton),
LinkedIn (http://www.linkedin.com/company/halliburton), Instagram
(https://www.instagram.com/halliburton/)and
YouTube (http://www.youtube.com/user/Halliburton).
Contacts for Aker BP:
Kjetil Bakken, VP Investor Relations, kjetil.bakken@akerbp.com, tel.: +47 918 89
889
Ole-Johan Faret, Press Spokesperson, ole-johan.faret@akerbp.com, tel.: +47 402
24 217
Contacts for Halliburton:
David Coleman, Investor Relations, investors@halliburton.com, tel: 281-871-2688
Emily Mir, External Affairs, pr@halliburton.com, tel: 281-871-2601