Halliburton enters technology agreement with Petrobras

HOUSTON -- Halliburton has announced a technology cooperation agreement with Petrobras that will advance collaboration in a diverse set of projects targeting complex reservoirs, such as deepwater pre-salt and mature fields.

The multi-year agreement will facilitate the development of innovative solutions in geophysics, drilling and completions, reservoir characterization, well testing, flow assurance and production. The project portfolio will focus on three main challenges: reducing well construction investment, long-term reservoir monitoring and increasing well productivity.

"Collaboration is a Halliburton strategic mainstay that drives our engagement with customers to develop new technologies," said Francisco Tarazona, V.P., Latin America. "This agreement will enable experts from both companies to share knowledge and accelerate the development of tailored solutions."

This is the second phase in the technology cooperation between Halliburton and Petrobras in Brazil. During the first phase, which began in 2009, both companies collaborated on 11 projects. This work included pre-stack seismic attributes for carbonates, new algorithms for better estimation of fluid sampling contamination and a new cementing system for salt and CO2 environments.

The project collaboration uses Halliburton's Brazil Technology Center in Rio de Janeiro. This facility is part of the company's technological excellence network and is the first in the Southern Hemisphere. The network is composed of 15 centers located across the world including the U.S., Canada, the UK, Saudi Arabia, India, Belgium and Singapore.