Alliance provides integrated, open architecture software to maximize asset potential
HOUSTON – August 10, 2020 – Halliburton (NYSE: HAL) and Honeywell (NYSE: HON) today announced a collaboration to maximize asset potential, reduce execution risk and lower the total cost of ownership for oil and gas operators. The collaboration will leverage Halliburton Landmark’s DecisionSpace® 365 E&P cloud applications and Honeywell Forge, a powerful industrial analytics software solution, to deliver unparalleled insights about oil and gas assets.
With global rig counts rising, MA activity increasing and recent oil price gains indicating a rebalancing, market operators are repositioning for growth and evaluating digital strategies to drive sustainable business value. LIFE assembles a diverse group of business and technical experts to provide tangible insights on cloud and big data analytics, the Internet of Things (IoT), artificial intelligence, mobility, automation and more.
Together, the companies bring deep domain expertise in subsurface and surface operations with the latest digital innovations to help operators address operational efficiency, asset productivity and risk across their business. Benefits include:
- Maximize asset value by creating a digital twin on an integrated and open architecture that connects and models the supply chain from reservoir to point of sale.
- Increase production, minimize OPEX/CAPEX and reduce operational risk by streamlining processes from downhole to surface controls, including digital solutions for improved subsurface insight.
- Optimization of total asset and enterprise performance using real-time monitoring and remote operations.
“We look forward to working with Honeywell to co-innovate and deliver unique digital solutions for our customers that increase asset productivity and lower operating costs,” said Jeff Miller, chairman, president and chief executive officer of Halliburton. “Our alliance will help operators integrate people, processes and technology across the E&P value chain to maximize asset potential.”
“The Honeywell and Halliburton collaboration enables our oil and gas customers to make more informed, data-driven decisions from the field to the board room,” said Darius Adamczyk, chairman and chief executive officer of Honeywell. “Our customers will gain increased visibility into their operations so that they can improve productivity, reduce costs and enhance worker safety.”
To learn more, please visit www.reservoirrecovery.com.
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 140 nationalities in more than 80 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company's website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.
Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.