Oil and gas exploration firm Neptune Energy has decided to adopt Halliburton’s DecisionSpace 365 well construction suite of cloud applications to consolidate all global drilling and wells activities.
Neptune said on Monday that the system would improve efficiency and significantly reduce non-productive time, leading to potential annual savings of more than $20 million.
The three-year agreement – part of Neptune’s digital subsurface programme – will create a platform for Neptune’s digital well program. It aims to reduce the duration for planning wells from weeks to days, automate engineering calculations, and consolidate data currently held across multiple global locations into one.
Moving to a cloud-based solution will, according to Neptune, enable it to incorporate artificial intelligence, machine learning, and data analytics to solve upstream challenges and support the company’s overall digital transformation.
Halliburton DecisionSpace 365 cloud applications will enable Neptune to build “ digital twins ” of its wells to not only plan and track their progress throughout their lifecycle but to model opportunities to optimise performance and predict potential problems before they occur. It will also bring significant benefits to optimising inventories of Neptune’s plant, people and production resources.
Neptune’s global head of drilling and wells Brett McIntyre said: “ The industry faces unprecedented challenges at this time and new digital technologies are enabling E&P companies to be more efficient, maximise the value of their activities, reduce costs, and support employees.
“ We see significant opportunities to enhance the safety and productivity of our global drilling and wells activities, reducing non-productive time, and supporting our global teams’ ability to work together to share knowledge and best practice.
“ By applying technology smartly, we can also reduce waste across the whole value chain and support our ability to be a safer, faster, and better business ”.
By consolidating data from Neptune’s four enterprise data management (EDM) environments into one system in the cloud, Neptune’s drilling and wells teams can access all well data from any location, at any time, collaborate and share resources, ensure consistent approaches across the business, and reduce costs associated with using multiple software platforms.
Ahmed Kenawi , Halliburton SVP for Eurasia, Europe, and Sub-Saharan Africa said: “ We are excited to collaborate with Neptune Energy on the digital transformation of their drilling and wells activity. Our DecisionSpace 365 cloud applications powered by the iEnergy Hybrid Cloud will increase efficiency and productivity across the well lifecycle to maximise asset value ”.