ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Libra Consortium and Halliburton Landmark Collaborate to Develop Field Digital Twin

Field digital twin allows Petrobras to optimize system settings to maximize production, increase recovery, and reduce risk

Halliburton Company (NYSE: HAL) today announced it will work with Libra Consortium, lead by Petrobras, to develop a digital twin for a pre-salt field system in Brazil. The Libra digital twin will help the consortium reduce capital expenditures, accelerate production times, and improve crude oil recovery rate using new insights obtained in a real-time environment. The digital twin is a virtual representation of the physical asset that replicates its behavior and characteristics. It allows operators to run “what if” scenarios to improve decision-making and maximize operational predictability for optimal field development.

Halliburton and Libra Consortium will develop an integrated and dynamic digital twin of the production system, including the reservoir, wells, and subsea network. It brings together asset sensors, data, and models, including 4D seismic, and smart completions through systems with a real-time view of the reservoir, wells, and facilities. This will assist with asset characterization, proactive reservoir monitoring, and asset operations planning and optimization. It will help the Libra Consortium achieve a new level of agility and collaboration.

"The Mero unitized field digital twin reiterates Landmark's leadership in leveraging E&P cloud and digital solutions to revolutionize reservoir performance and asset optimization," said Nagaraj Srinivasan, senior vice president of Landmark, Halliburton Digital Solutions, and Consulting. “This dynamic system will empower the consortium with comprehensive, continuous insights around optimization opportunities, cost reduction potential, and uncertainty mitigation throughout the asset lifecycle.”

The Mero unitized field is operated by Petrobras, in partnership with Shell Brasil, TotalEnergies, CNPC and CNOOC, and with Pré-Sal Petróleo SA (PPSA) representing the Government in the non-contracted area.

ABOUT HALLIBURTON

Halliburton is one of the world’s leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

Contacts

Recent Quotes

View More
Symbol Price Change (%)
AMZN  209.53
+0.00 (0.00%)
AAPL  255.76
+0.00 (0.00%)
AMD  197.74
+0.00 (0.00%)
BAC  47.13
+0.00 (0.00%)
GOOG  303.21
+0.00 (0.00%)
META  638.18
+0.00 (0.00%)
MSFT  401.86
+0.00 (0.00%)
NVDA  183.14
+0.00 (0.00%)
ORCL  159.16
+0.00 (0.00%)
TSLA  395.01
+0.00 (0.00%)
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.