Halliburton Company announced it received a contract from Kuwait Oil Company (KOC), a world leader in digital transformation, to expand KOC’s digital transformation journey by implementing solutions to maximize operational efficiency and increase production. The scope applies to all Kuwait fields including West Kuwait, South and East Kuwait, and Heavy Oil, complementing a recently awarded contract for similar services in North Kuwait.

Halliburton will collaborate with KOC to accelerate their data-to-decisions cycle by implementing automated work processes and digital twins across KOC’s major assets. The solutions will leverage DecisionSpace® 365, Halliburton’s cloud-based subscription service for E&P applications, to automate work processes to accurately plan, forecast, and optimize production throughout the KOC portfolio. Built on an open architecture, the service integrates Halliburton and third-party technologies to enhance operational performance and increase ultimate recovery.

“This award signifies our strong relationship with KOC as we collaborate and innovate across their company-wide digital transformation initiatives,” said Nagaraj Srinivasan, senior vice president of Landmark, Halliburton Digital Solutions and Consulting. “This contract further demonstrates Halliburton’s strategic priority to accelerate the adoption of our digital services. Our software and consulting services will support KOC to optimize their assets, reduce production costs and increase recovery.”

About Halliburton

Founded in 1919, Halliburton (NYSE: HAL) is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset.

About KOC

Established in 1934, Kuwait Oil Company is responsible for the exploration, production and export of the State of Kuwait’s hydrocarbon resources. Throughout its history, KOC has strived to secure its position as a leader in the oil and gas industry by utilizing the latest forms of technology and industry best practices throughout its areas of operation. Recently, KOC has set its sights on Kuwait’s offshore reserves after a comprehensive 3D seismic survey of the entirety of Kuwait Bay indicated the potential for commercial quantities of production. As part of its commitment to remain a reliable supplier of energy to the world, KOC is currently making excellent progress in its effort to grow its reserves and increase production in a way that is both economically viable and environmentally sound.