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Friday, January 27, 2023

Halliburton (NYSE: HAL) and Aker BP Team Up to Develop Field Development Planning Software

Halliburton Company (NYSE: HAL) confirmed that it has joined hands with Aker BP to co-develop next-generation field development planning software. Over the years, Halliburton and Aker BP have maintained a tight and cooperative strategic collaboration. Together both the companies are already transforming well construction through revolutionary expertise, agile processes, and game-changing technology.

Halliburton will release a new cloud application called Field Development Planning (FDP) as a result of the agreement. It also broadens the scope of the current Digital Well Program, a DecisionSpace 365 cloud application based on an open architecture that provides integrated well planning and design to boost cooperation and connection throughout drilling operations.

FDP, which is based on the OSDUTM Data Platform, automates the laborious process of collecting field development data to make the decision gate process more efficient and auditable, while also providing a consistent audit trail for the subsurface community. FDP assists organizations in better understanding the risks and uncertainties involved with field development concepts.

Furthermore, Halliburton is pleased to expand its strong partnership with Aker BP and develop an innovative intelligent technology to move field development away from the manual FDP approach used by most companies. With FDP, Aker BP will be able to take a more holistic view of field development and well-building. It will allow it to make more informed and expedited subsurface and reservoir/production decisions to optimize its investment and maximize the return on its assets.

Additionally, by the end of this decade, Aker BP hopes to be digital and fully automated. It is constructing an ecosystem in which work activities are completely integrated and data flows freely. This plan includes Halliburton as a significant partner. For complete field concepts, FDP will allow it to optimize efficiency, maximize value, and make data-driven decisions. Furthermore, it will be able to comprehend and mitigate risk and uncertainty on a completely different level.

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