Halliburton has successfully been awarded a digital transformation contract by Thailand’s state-owned petroleum exploration and production company, PTTEP.
The American multinational corporation will design and implement a series of projects as part of PTTEP’s Advanced Production Excellence (APEX) Initiative.
The APEX Initiative will look to improve operational efficiency and production in four offshore fields, including Arthit, Greater Bongkot South, Greater Bongkot North and the Myanmar Zawtika Field.
“Effectively leveraging and implementing digital technologies improves efficiency to increase production, reduce operating expenses and maximize the value of the operator’s portfolio,” said Mr. Nagaraj Srinivasan, the Senior Vice President of Landmark and Halliburton Digital Solutions.
Landmark is a Halliburton business line that provides Exploration and Production professionals with software-driven lifecycle insights using open architecture, hybrid cloud environments and digital twin.
Landmark will deploy its DecisionSpace Production Suite using cloud computing technology to store data rather than onboard the offshore fields. Their DecisionSpace Enterprise Platform will integrate Honeywell Forge, a powerful analytics software solution providing real-time data and visual intelligence, so PTTEP can implement more productive and efficient work processes.
“We look forward to collaborating with Honeywell to support PTTEP on its digital transformation journey,” added Mr. Srinivasan.
The software solutions are designed to use advanced physics and data science-based models to manage offshore wells and points of delivery. A multitude of operations will also be optimised using the solution, including short-term production planning, flow assurance and sand production monitoring and control, condensate stabilisation and fuel gas optimisation.
The financial terms of the deal between Halliburton, one of the world’s largest oil field service companies, and PTT Exploration and Production Public Company Limited (PTTEP) were not disclosed.
In February 2020, Halliburton was awarded a digital transformation contract with Pertamina, the largest Indonesian oil and gas company, using Landmark’s hybrid cloud offering.