Halliburton, Honeywell develop open-architecture oil and gas software

HOUSTON–Halliburton and Honeywell 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.

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.”