Technology enables digital transformation of offshore development project in Guyana
Regulatory News:
TechnipFMC (NYSE:FTI) and Halliburton Company (NYSE: HAL) today announced they received an OTC Spotlight on New Technology Award (SONT) for their Odassea Subsea Fiber Optic Solution, an advanced downhole fiber optic sensing system. ExxonMobil selected the solution for its Payara development project in Guyana. The award followed completion of front-end engineering and design studies and qualifications.
"We are excited to win OTC's Spotlight Award and deploy Odassea in Payara, the industry's largest subsea fiber optic sensing project," said Trey Clark, vice president of Halliburton Wireline and Perforating. "By collaborating with TechnipFMC, we combine our sensing and subsea expertise to enhance reservoir insight and to lower the total cost of ownership for our customers."
The Odassea service integrates hardware and digital systems to strengthen capabilities in subsea reservoir monitoring and production optimization. Halliburton provides the fiber optic sensing technology and analysis for reservoir diagnostics. TechnipFMC provides the optical connectivity from the topside to the completions. Through this collaboration, operators can accelerate full field subsea fiber optic sensing, design, and execution.
The Payara development, located 200 kilometers offshore Guyana in 1,800 meters water depth, is the third development within the Stabroek block with current discovered recoverable resources estimated at approximately 9 billion oil-equivalent barrels.
"To win the SONT award and to help our client enable an enhanced level of reservoir understanding are great achievements," said Christina Johansen, Senior Vice President of TechnipFMC Subsea Product Management. "Solutions such as Odassea transform our clients' project economics and demonstrate how we are continuously driving change in the industry."
TechnipFMC and Halliburton are delivering Odassea solutions to multiple other subsea projects at all stages, from conceptual design to execution.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients' project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments Subsea and Surface Technologies we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI, iFEED and iComplete), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients' success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
About Halliburton
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 50,000 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.
Category: UK regulatory
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Contacts:
For Halliburton
Investors:
Abu Zeya
Halliburton, Investor Relations
Investors@Halliburton.com
281-871-2633
Media:
William Fitzgerald
Halliburton, External Affairs
PR@Halliburton.com
713-876-0105
For TechnipFMC
Investors:
Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
Email: Matt Seinsheimer
James Davis
Senior Manager, Investor Relations
Tel: +1 281 260 3665
Email: James Davis
Media relations
Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
Email: Nicola Cameron
Catie Tuley
Director, Public Relations
Tel: +1 713 876 7296
Email: Catie Tuley
