Latest news with #GeosciencesSuite
Yahoo
6 days ago
- Business
- Yahoo
HAL & Petronas to Deploy Next-Gen Tech to Accelerate Exploration
Halliburton Company HAL has announced a strategic collaboration with Petronas Carigali to deploy cutting-edge technologies for subsurface modeling and reservoir management. At the core of this partnership is the adoption of Halliburton Landmark's DecisionSpace 365 Geosciences Suite and Unified Ensemble Modeling solutions. These tools are expected to revolutionize how exploration and development teams operate by streamlining workflows and reducing time to first oil. The deployment introduces scalable, live-earth modeling and probabilistic ensemble forecasting, marking a significant shift from traditional grid-based methods. These technologies enable Petronas' exploration and asset teams to collaborate in real time and achieve an accurate reserve estimation and quicker scenario analysis through ensemble modeling. These capabilities, supported by AI and machine learning, promise to enhance decision-making and maximize asset value. The scalable earth modeling also helps to preserve geological accuracy across all levels, from regional basins to specific fields, ensuring seamless data and model continuity from exploration through development. This integrated approach streamlines project progression via the Front-End Loading process. With the Unified Ensemble Modeling solution, asset teams can automatically create multiple probabilistic geological scenarios. This method aims to boost forecasting accuracy, speed up scenario evaluation and strengthen decision-making confidence. Halliburton's Geosciences Suite is the AI-driven next-generation technology that optimizes returns and replaces reserves. This is known for leveraging advanced technology and seamlessly integrating cross-domain workflows to enhance subsurface understanding and deliver critical insights that support maximizing asset value. Some of its advantages include better collaboration and productivity, mitigating errors and data gaps, seamless integration and negation of repetition and redundancy. Unified Ensemble Modeling is the technology that manages risk and uncertainty at every step. It helps to optimize reservoir management decisions based on repeatable and conditioned ensembles of models. This collaboration builds on a thorough benchmarking of Petronas' practices across both greenfield and mature assets. The shift to unified modeling is in line with Petronas' broader objective to ensure seamless continuity from exploration through production. Houston, TX-based Halliburton is one of the largest oilfield service providers in the world, offering a variety of equipment, maintenance, and engineering and construction services to the energy, industrial and government sectors. Currently, HAL has a Zacks Rank #4 (Sell). Investors interested in the energy sector might look at some better-ranked stocks like Global Partners LP GLP, Subsea 7 S.A. SUBCY and Gibson Energy Inc. GBNXF. While Global Partners and Subsea 7 currently sport a Zacks Rank #1 (Strong Buy) each, Gibson Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Global Partners is a Delaware limited partnership formed by affiliates of the Slifka family. GLP owns, controls or has access to one of the largest terminal networks of refined petroleum products in New England. The Zacks Consensus Estimate for Global Partners' 2025 earnings indicates 17.84% year-over-year growth. Subsea 7 operates as an engineering, construction and services contractor to the offshore energy industry worldwide. The Zacks Consensus Estimate for Subsea 7's 2025 earnings indicates 95.52% year-over-year growth. Calgary, Alberta-based Gibson Energy is an oil infrastructure company with its principal businesses consisting of the storage, optimization, processing and gathering of crude oil and refined products. The Zacks Consensus Estimate for GBNXF's 2025 earnings indicates 36.76% year-over-year growth. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Halliburton Company (HAL) : Free Stock Analysis Report Global Partners LP (GLP) : Free Stock Analysis Report Subsea 7 SA (SUBCY) : Free Stock Analysis Report Gibson Energy Inc. (GBNXF) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
20-06-2025
- Business
- Yahoo
Halliburton and Petronas collaborate to speed up time to first oil
US-based Halliburton has announced a collaboration with Petronas exploration and production (E&P) subsidiary Petronas Carigali to deploy next-generation subsurface modelling and reservoir management solutions. This partnership aims to integrate exploration and development workflows and expedite the process of achieving first oil production. Petronas will implement Halliburton DecisionSpace 365 Geosciences Suite and Unified Ensemble Modelling solutions. The next-generation technologies represent a leap forward from conventional grid-based modelling and deterministic reservoir forecasting. They are designed to facilitate real-time collaboration among Petronas Carigali's exploration and asset teams, using a unified live earth model to improve reserve estimations through ensemble modelling. The Geosciences Suite's scalable earth modelling ensures geological fidelity at all scales, from basin-wide perspectives to individual fields. This consistency in data and models from exploration to development supports quicker project maturation through the Front-End Loading process. Petronas Carigali CEO and senior vice-president of Malaysia Asset Hazli Sham Kassim said: 'A harmonized, AI-assisted workflow anchored on a single live-earth model across the exploration and development phases is central to our strategy in achieving our ambitious project delivery targets.' The Unified Ensemble Modelling solution enables the automation of multiple probabilistic geological scenarios while incorporating real-time reservoir flow data, enhancing forecast accuracy, expediting scenario analysis and bolstering confidence in decision-making. Petronas exploration vice-president Ahmad Faisal Bakar added: 'Adopting DecisionSpace 365 Geosciences Suite and Unified Ensemble Modelling solutions aligns with PETRONAS' vision to accelerate our project deliveries and ensure seamless continuity from exploration through development and production.' Earlier this month, Chevron USA and Halliburton introduced innovative intelligent hydraulic fracturing technology in Colorado, US. This technology employs a closed-loop, feedback-driven system aimed at optimising energy delivery into wellbores. "Halliburton and Petronas collaborate to speed up time to first oil" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-06-2025
- Business
- Yahoo
Halliburton and PETRONAS Carigali Sdn. Bhd. to Deploy Next Generation Subsurface Modeling and Reservoir Management Solutions
HOUSTON, June 19, 2025--(BUSINESS WIRE)--Halliburton (NYSE: HAL) today announced a strategic collaboration with PETRONAS Carigali Sdn. Bhd. to advance subsurface modeling and reservoir management. As part of the collaboration, PETRONAS Carigali Sdn. Bhd. will deploy Halliburton Landmark's DecisionSpace® 365 Geosciences Suite and Unified Ensemble Modeling solutions with the objective to unify exploration and development workflows and accelerate time to first oil. Halliburton Landmark's next-generation scalable earth modeling and ensemble workflows are a significant evolution from traditional grid-based modeling and deterministic reservoir forecasting. These technologies are intended to enable PETRONAS Carigali Sdn. Bhd. exploration and asset teams to collaborate in real time using a unified live earth model, with the aim of achieving more accurate reserve estimations through ensemble modeling. The Geosciences Suite's scalable earth modeling maintains geological fidelity across all scales—from basin-wide views to individual fields—to ensure consistent data and models flow from exploration to development. This integrated workflow supports faster project maturation through the Front-End Loading process. Using the Unified Ensemble Modeling solution, asset teams can automate the generation of multiple probabilistic geological scenarios while integrating real-time reservoir flow data. This approach is designed to enhance forecast precision, accelerate scenario analysis, and improve confidence in decision-making. "We transform subsurface modeling through proven differentiated technologies to solve unique challenges," said Tony Antoun, senior vice president, Landmark Software and Services. "When we unite exploration and development teams, we help our customers generate returns faster and maximize asset value." "A harmonized, AI assisted workflow anchored on a single live-earth model across the exploration and development phases is central to our strategy in achieving our ambitious project delivery targets," said Hazli Sham Kassim, Senior Vice President of Malaysia Asset and CEO of PETRONAS Carigali Sdn. Bhd. PETRONAS Vice President of Exploration, Ahmad Faisal Bakar, added, "Adopting DecisionSpace® 365 Geosciences Suite and Unified Ensemble Modeling solutions aligns with PETRONAS' vision to accelerate our project deliveries and ensure seamless continuity from exploration through development and production." This collaboration follows a comprehensive benchmarking of PETRONAS' greenfield and mature reservoir practices. The new approach will incorporate multi-scenario probabilistic modeling, supported by AI and machine learning, envisioned to drive greater efficiency and insight. 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. Visit us at connect with us on LinkedIn, YouTube, Instagram, and Facebook. View source version on Contacts For Investors: David Colemaninvestors@ 281-871-2688 For Media Relations: Alexandra Franceschipr@ 281-871-3602 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
19-06-2025
- Business
- Business Wire
Halliburton and PETRONAS Carigali Sdn. Bhd. to Deploy Next Generation Subsurface Modeling and Reservoir Management Solutions
HOUSTON--(BUSINESS WIRE)--Halliburton (NYSE: HAL) today announced a strategic collaboration with PETRONAS Carigali Sdn. Bhd. to advance subsurface modeling and reservoir management. As part of the collaboration, PETRONAS Carigali Sdn. Bhd. will deploy Halliburton Landmark's DecisionSpace ® 365 Geosciences Suite and Unified Ensemble Modeling solutions with the objective to unify exploration and development workflows and accelerate time to first oil. Halliburton Landmark's next-generation scalable earth modeling and ensemble workflows are a significant evolution from traditional grid-based modeling and deterministic reservoir forecasting. These technologies are intended to enable PETRONAS Carigali Sdn. Bhd. exploration and asset teams to collaborate in real time using a unified live earth model, with the aim of achieving more accurate reserve estimations through ensemble modeling. The Geosciences Suite's scalable earth modeling maintains geological fidelity across all scales—from basin-wide views to individual fields—to ensure consistent data and models flow from exploration to development. This integrated workflow supports faster project maturation through the Front-End Loading process. Using the Unified Ensemble Modeling solution, asset teams can automate the generation of multiple probabilistic geological scenarios while integrating real-time reservoir flow data. This approach is designed to enhance forecast precision, accelerate scenario analysis, and improve confidence in decision-making. "We transform subsurface modeling through proven differentiated technologies to solve unique challenges,' said Tony Antoun, senior vice president, Landmark Software and Services. 'When we unite exploration and development teams, we help our customers generate returns faster and maximize asset value.' 'A harmonized, AI assisted workflow anchored on a single live-earth model across the exploration and development phases is central to our strategy in achieving our ambitious project delivery targets,' said Hazli Sham Kassim, Senior Vice President of Malaysia Asset and CEO of PETRONAS Carigali Sdn. Bhd. PETRONAS Vice President of Exploration, Ahmad Faisal Bakar, added, 'Adopting DecisionSpace ® 365 Geosciences Suite and Unified Ensemble Modeling solutions aligns with PETRONAS' vision to accelerate our project deliveries and ensure seamless continuity from exploration through development and production.' This collaboration follows a comprehensive benchmarking of PETRONAS' greenfield and mature reservoir practices. The new approach will incorporate multi-scenario probabilistic modeling, supported by AI and machine learning, envisioned to drive greater efficiency and insight. 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. Visit us at connect with us on LinkedIn, YouTube, Instagram, and Facebook.
