Halliburton, PTTEP partner to advance digital transformation solutions for East Asian energy industry
(WO) – Halliburton and PTT Exploration and Production Public Company Limited (PTTEP) signed a Memorandum of Understanding (MoU) to co-innovate and market digital transformation solutions for the energy industry in Thailand, Malaysia and Vietnam.
Under the agreement, the two companies will develop and provide advanced digital solutions services that address energy industry challenges and help increase operational effectiveness and efficiency. The first two solutions being launched are PTTEP’s Well Delivery Process (WDP), WellSafvy, and Advanced Production Excellence (APEX), which are built on Halliburton’s DecisionSpace 365 suite of applications and are now extended for interested oil and gas operators in the selected countries.
WDP WellSafvy is a web-based integrated well delivery solution that has been successfully used to plan more than 600 wells, resulting in well design quality improvement and approximate 30% reduction in well planning cycle time. APEX solution is a multi-module optimization tool for improving overall operational efficiency in offshore producing fields by uplifting more petroleum production with selective optimizer, monitoring and reducing operating cost using data analytics, and optimizing reservoir management to maximize field potential. More than 3 producing assets and over 1,500 wells have been successfully optimized by APEX.
In addition, Halliburton signed a Joint Marketing Agreement with AI and Robotics Venture (ARV), a subsidiary of PTTEP, to work with Landmark to market and deliver the digital solutions to a broader market.
“This collaboration marks a significant step towards digital transformation in the energy sector and demonstrates the potential for industry-wide collaboration in addressing the challenges faced in E&P Business. PTTEP is pleased to share with the industry digital solutions that we have developed in collaboration with Halliburton which have proven effective and efficient in our own operations, saving considerable amount of time and cost,” said Chatchai Kongdachudomkul, Vice President, Enterprise Transformation Department, PTTEP.