Press Release

Companies introduce full-field fiber and seismic imaging to improve downhole insight

HOUSTON--(BUSINESS WIRE)--May 18, 2021-- Halliburton Company (NYSE: HAL) and TGS-NOPEC Geophysical ASA (OSLO:TGS) today announced a collaboration to bring advanced seismic imaging to fiber optic sensing. The alliance will provide operators with advanced insight to determine their reservoir potential for oil and gas production or carbon storage. The Halliburton FiberVSP™ and Odassea™ distributed acoustic sensing solutions will now incorporate TGS’s seismic imaging workflows that process the entire seismic wavefield to generate high-resolution reservoir images.

“We are excited to transform vertical seismic profiling to a full-field, digital, and intervention-less surveillance solution,” said Trey Clark, vice president of Wireline and Perforating. “Through our collaboration with TGS, we can now enable real-time monitoring of production across an entire field, allowing our customers to make better decisions and increase ultimate recovery.”

“This solution enables enhanced reservoir understanding for our customers with a lower total cost of ownership relative to conventional 4D seismic,” said Jan Schoolmeesters, executive vice president of TGS Operations and New Energy Solutions. “We’ve leveraged the competencies and know-how of both organizations to drive the change our industry needs for proactive reservoir management. For TGS, this collaboration meets our strategic initiatives to increase our focus on technology and mature basins, capture more repeatable business, and offer customers cost efficient new energy solutions like carbon storage monitoring.”

Work is underway to deliver this combined solution for multiple onshore and offshore reservoir monitoring projects.

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 nationalities in more than 70 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.

About TGS

TGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.

For more information, visit TGS online at www.tgs.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210518005057/en/

For Halliburton

Investors:
Abu Zeya
Halliburton, Investor Relations
Investors@Halliburton.com
281-871-2633

Media:
William Fitzgerald
Halliburton, External Affairs
PR@Halliburton.com
713-876-0105

For TGS

Investors:
Sven Børre Larsen
SVP Strategy
investor@tgs.com

Media:
Jaclyn Townsend
Director, Corporate Marketing
jaclyn.townsend@tgs.com

Source: Halliburton Company