Well Construction Services Agreement to implement a digital approach to sub-surface studies and integrated service delivery
Nine-year agreement with five year base and two, two year extension options

OKEA AS and Halliburton have signed a well construction services agreement to implement Halliburton Landmark’s full suite of software in the iEnergyTM cloud and field development planning services for all OKEA fields in the Norwegian Continental Shelf (NCS).

OKEA is developing new marginal fields and cost-efficiency is vital to ensure that the projects provide economic returns. After an open selection process, OKEA chose Halliburton to support the company as it works to develop fields in the NCS more effectively. Through detailed sub-surface studies and scenario optimization, OKEA aims to establish an integrated service delivery model that will allow for the construction and service of wells throughout the fields’ lifecycle.

“The success of our industry is determined by our ability to supply the world with stable and affordable energy. In order to do so, the oil companies and the service companies have a common goal to decrease unit costs and enhance efficiency,” said OKEA CEO Erik Haugane. “We are pleased to have Halliburton work with OKEA to embark on this quest by jointly defining the optimal solutions going forward.”

“We are pleased with this award and look forward to working with OKEA,” said Sanjeev Verma, vice president of Halliburton Norway. “This is a great opportunity to collaborate and provide engineered solutions, digital approach, and operational excellence to maximize OKEA’s asset value.”