Halliburton Co. has signed a strategic agreement with the Advanced Remanufacturing and Technology Center (ARTC) to become an anchor member, which will allow Halliburton to collaborate across industries with research and development projects that will advance next-generation technologies. Halliburton is the only oilfield services company with membership in ARTC.
As an anchor member of ARTC, which is led by Singapore’s Agency for Science, Technology and Research (A*STAR), Halliburton will leverage the organization’s pool of engineers and researchers to help drive the development of collaborative solutions that will increase value for our customers.
“We are excited about the possibilities to advance the way we complete oil and gas wells through harnessing the power of innovative ideas from outside our industry,” Dr. Sriram Srinivasan, vice president for Global Technology with Halliburton, said. “Singapore is a world leader in cutting edge research, and we look forward to lending our expertise to the development of technologies for new markets.”
ARTC is a leading public-private partnership platform with over 70 members ranging from global multinational corporations to small and medium enterprises. ARTC focuses on advanced manufacturing and remanufacturing and serves to accelerate the transfer of innovation from applied research to industrial applications.
Referring to wireline logs and pressure and fluid sample data, the company said the well intersected 60 m (197 ft) of net hydrocarbon pay while targeting the primary objective.
The oil and gas producer said annual output rose to 75.5 million barrels of oil equivalent.
U.S. oil production from seven major shale formations is expected to rise about 22,000 barrels per day next month, which would be the smallest monthly increase since shale output declined in February 2019.