Halliburton Wins Kuwait Digital Contract
Kuwait Oil Co. (KOC) has awarded Halliburton Co. (NYSE: HAL) a contract to provide digital technologies to support its goal of increasing production from its North Kuwait asset, Halliburton reported Wednesday.
“We are excited to collaborate with KOC on their digital transformation initiatives and build on our previous work to increase reservoir recovery and production,” commented Nagaraj Srinivasan, senior vice president of Landmark, Halliburton Digital Solutions and Consulting, in a written statement emailed to Rigzone.
Halliburton pointed out that KOC will be able to accelerate its data-to-decisions cycle by designing and operating digital twins of the North Kuwait field, automating work processes, via the service company’s “DecisionSpace 365” cloud-based E&P subscription service. It contends the open-architecture system will help KOC engineers to model, optimize, and deploy intelligent work processes to plan, forecast, and optimize production and asset operations – and increase ultimate recovery.
“By using cloud computing, IoT (Internet of Things), and real-time technologies to drive new ways of working, we can improve production planning, scheduling, and enable virtual and autonomous reservoir optimization,” concluded Srinivasan.
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