|Approximately one hour|
Since the oil and gas industry began, operators have traditionally contracted oilfield services on a discrete basis. Viewed as commodity providers, service companies compete on price in order to help the operator lower the cost of these services. In recent years, however, operators and their service company partners have begun to increasingly align on performance based relationships. It’s possible to lower the total spend cost of the well construction through drilling the wellbore efficiently and to the required quality, making all construction activities easier to execute - without sacrificing safety, efficiency and reliability.
The term drilling optimization has been used over the years to refer to many diverse technical capabilities that can impact performance, but because the term has had many different uses it is at the point where it has become almost meaningless. In its last Oil and Gas Journal webcast, Halliburton set out to drive clarity around the definition of drilling optimization as more than just selecting or integrating technology. To achieve the performance expected by the market a fully-integrated engineering workflow and collaborative approach is required.
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 50,000 employees in approximately 70 countries, the company serves the upstream oil and gas industry throughout the life cycle of the reservoir - from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. Visit the company's Web site at www.halliburton.com