HOUSTON, Apr 30, 2012 (BUSINESS WIRE) --Halliburton (NYSE: HAL) has been recognized by the 2012 Offshore Technology Conference's Spotlight on New Technologies program for its EquiFlow(R) autonomous inflow control device (AICD). The EquiFlow AICD addresses the problem of unwanted water or gas production and solves the inefficiency in current ICD designs.
The OTC Committee chose the technology for the Spotlight award based on four criteria: it is new and innovative; it has proven full-scale application; it has broad interest and appeal for the industry; and there is significant benefit to the industry beyond existing technologies.
The EquiFlow AICD, the only known product of its kind offered in the industry today, now makes it possible to restrict unwanted fluid production and boost oil production at the same time. The device has no moving parts or elastomeric seals, and does not require communication to surface or the need for surface intervention. After installation, the AICD can be left to function autonomously for the life of the well. The EquiFlow AICD, therefore, will improve completion reliability, increase completion life, reduce disposal cost and potential environmental issues, and increase wellbore recovery in oil producing fields around the world.
"We believe this technology will provide tremendous value to our customers through the ability to optimize their production over the life of the well, with no intervention or remote operations required," said Jerry Wauters, vice president of Halliburton's Completion Tools business line. "We thank the OTC for this recognition. This technology is indeed a game changer, and it demonstrates Halliburton's commitment to continuously developing and delivering valuable technological solutions."
For more information: http://www.halliburton.com/equiflow
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With nearly 70,000 employees in approximately 80 countries, the company serves the upstream oil and gas industry 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 through the life of the field. Visit the company's website at http://www.halliburton.com.
Kelly Youngblood, 281-871-2688
Beverly Blohm Stafford, 281-871-2601