Halliburton Co. and Norwegian oil and gas E&P company Aker BP will co-develop next generation field development planning software, a press release announced on May 23.
The collaboration delivers the 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.
“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 commented in the release.
“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.”
Built on the OSDU 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 to help organizations better understand uncertainty and risks associated with field development concepts.
The collaboration will help Aker BP along its goal to become fully digital and nearly fully automated by the end of the decade. Implementing FDP will allow the company to increase efficiency, maximize value and make data-driven decisions for entire field concepts, Aker BP CEO Karl Johnny Hersvik said in the press release.
“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," Hersvik added. "It will make it possible to collaborate and drive transparency across the assets as never seen before in the industry.”
The two companies have already established a collaborative strategic relationship spanning several years, working on projects such as the implementation of Collaborative Well Planning for optimal well placements, as well as high quality well design using Halliburton's Digital Well Program.
"With Field Development Planning we are accelerating our digital transformation to the next level,” Tommy Sigmundstad, senior vice president of drilling and wells for Aker BP, said.
Recommended Reading
Williams Beats 2023 Expectations, Touts Natgas Infrastructure Additions
2024-02-14 - Williams to continue developing natural gas infrastructure in 2024 with growth capex expected to top $1.45 billion.
Balticconnector Gas Pipeline Will be in Commercial Use Again April 22, Gasgrid Says
2024-04-17 - The Balticconnector subsea gas link between Estonia and Finland was damaged in October along with three telecoms cables.
Wayangankar: Golden Era for US Natural Gas Storage – Version 2.0
2024-04-19 - While the current resurgence in gas storage is reminiscent of the 2000s —an era that saw ~400 Bcf of storage capacity additions — the market drivers providing the tailwinds today are drastically different from that cycle.
Pembina Pipeline Enters Ethane-Supply Agreement, Slow Walks LNG Project
2024-02-26 - Canadian midstream company Pembina Pipeline also said it would hold off on new LNG terminal decision in a fourth quarter earnings call.
Midstream Operators See Strong NGL Performance in Q4
2024-02-20 - Export demand drives a record fourth quarter as companies including Enterprise Products Partners, MPLX and Williams look to expand in the NGL market.