Neptune Energy announced it will adopt Halliburton’s DecisionSpace 365 well construction suite of cloud applications to consolidate all global drilling and wells activities, improve efficiency and significantly reduce non-productive time, leading to potential annual savings of more than $20 million.
The three-year agreement – part of Neptune’s digital subsurface program – will create a platform for Neptune’s digital well program. It aims to reduce the duration for planning wells from weeks to days, automate engineering calculations and consolidate data currently held across multiple global locations into one.
Moving to a cloud-based solution will enable Neptune to incorporate artificial intelligence, machine learning and data analytics to solve upstream challenges and support the company’s overall digital transformation.
DecisionSpace 365 cloud applications will enable Neptune to build “digital twins” of its wells to not only plan and track their progress throughout their lifecycle, but to model opportunities to optimize performance and predict potential problems before they occur. It will also bring significant benefits to optimizing inventories of Neptune’s plant, people and production resources.
“The industry faces unprecedented challenges at this time and new digital technologies are enabling E&P companies to be more efficient, maximize the value of their activities, reduce costs and support employees,” Brett McIntyre, Neptune’s Global Head of Drilling & Wells, said. “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 digitization strategy aims to enable Neptune to be safer and more responsible, ensuring production efficiency and profitable growth from our globally-diverse, gas-weighted portfolio,” Mr McIntyre added. “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.”
By consolidating data from Neptune’s four enterprise data management (EDM) environments into one system in the cloud, Neptune’s drilling and wells teams can access all well data from any location, at any time; collaborate and share resources; ensure consistent approaches across the business and reduce costs associated with using multiple software platforms.
“We are excited to collaborate with Neptune Energy on the digital transformation of their drilling and wells activity,” Ahmed Kenawi, Halliburton Senior Vice President for Eurasia, Europe and Sub-Saharan Africa, said. “Our DecisionSpace 365 cloud applications, powered by the iEnergy Hybrid Cloud, will increase efficiency and productivity across the well lifecycle to maximize asset value.”
As part of Neptune’s digital subsurface program, the company is also working with a range of partners and vendors to develop new tools to scan and interpret vast quantities of seismic data. This significantly reduces the time spent by geoscientists on administrative work and preparation, and provides them with data informed insights they can use to identify hydrocarbons more efficiently and with more certainty, reducing the likelihood of drilling a dry well.