Press Release

Software solution targets production excellence

Project includes Halliburton’s DecisionSpace^® technology suite and Honeywell Forge enterprise performance management software

HOUSTON--(BUSINESS WIRE)--Aug. 18, 2020-- PTTEP, a national petroleum exploration and production company in Thailand, awarded Halliburton (NYSE: HAL) a contract to design and implement a series of digital transformation projects as part of PTTEP’s Advanced Production Excellence (APEX) Initiative. APEX will improve operational efficiency and production in four offshore fields: Arthit, Greater Bongkot South, Greater Bongkot North and the Myanmar Zawtika Field.

Landmark, a Halliburton business line, will deploy its DecisionSpace^® Production Suite in the cloud to improve production operations from the subsurface to processing facilities. The DecisionSpace^® Enterprise Platform will integrate with Honeywell Forge, a powerful analytics software solution providing real-time data and visual intelligence, so PTTEP can implement more productive and efficient work processes.

Using advanced physics-based and data science models, the solution includes modeling of surface and subsurface components to manage and optimize operations from the wells to the point of delivery. This includes short-term production planning and optimization, flow assurance monitoring and control, sand production monitoring and control, condensate stabilization optimization, CO₂ membrane optimization, fuel gas optimization and processing facilities performance monitoring and analysis.

“We look forward to collaborating with Honeywell to support PTTEP on its digital transformation journey,” said Nagaraj Srinivasan, senior vice president of Landmark and Halliburton Digital Solutions. “Effectively leveraging and implementing digital technologies improves efficiency to increase production, reduce operating expenses and maximize the value of the operator’s portfolio.”

ABOUT HALLIBURTON

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 40,000 employees, representing 140 nationalities in more than 80 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, Twitter, LinkedIn, Instagram and YouTube.

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Source: Halliburton