European E&P company Neptune Energy has announced plans to adopt new cloud-based technology as part of its efforts to improve efficiency and to significantly reduce non-productive time.
To achieve this, Neptune will use oil field service provider Halliburton’s ‘DecisionSpace 365’ well construction suite of cloud applications for all drilling and well activities globally under a three-year agreement.
According to Neptune, the agreement will create a platform for its digital well programme.
The E&P company’s goals include cutting the duration for planning wells from weeks to days and automating engineering calculations.
Neptune also aims to consolidate data currently held across multiple global locations into one.
Neptune Energy Drilling and Wells Global Head Brett McIntyre said: “The industry faces unprecedented challenges at this time and new digital technologies are enabling E&P companies to be more efficient, maximise the value of their activities, reduce costs and support employees.
“We see significant opportunities to enhance the safety and productivity of our global drilling and wells activities, reducing non-productive time and supporting our global teams’ ability to work together to share knowledge and best practice.
“Our technology and digitisation strategy aims to enable Neptune to be safer and more responsible, ensuring production efficiency and profitable growth from our globally diverse, gas-weighted portfolio. By applying technology smartly, we can also reduce waste across the whole value chain and support our ability to be a safer, faster and better business.”
Neptune noted that Halliburton’s well construction suite of cloud applications will be implemented across its global drilling and well activities.
The latest move to provide digital support for drilling could lead to annual savings of more than $20m for Neptune.
In June 2018, Halliburton introduced new logging-while-drilling technology called EarthStar ultra-deep resistivity service to enable operators to map reservoir and fluid boundaries more than 200ft from the wellbore.