Halliburton recently signed an agreement with the Ministry of Petroleum to cooperate in the development of young calibers and middle-level managers within the sector. How does Halliburton view this investment in future generations?
Investing in the training of young caliber future managers, as well as mid-level managers, is crucial to ongoing success in the Egypt petroleum sector. At Halliburton, we find that giving our employees the tools they need for success benefits both employees and our company. The collaboration established with the Ministry of Petroleum will allow us to share in this development. Halliburton takes great pride in the planning and development of our employees’ careers, and as the business in the Egypt petroleum sector grows, we see immense value in the overall strength of this future generation.
Halliburton is promising to provide on-the-job training for Egyptian professionals, how will that help boost their experience and career development?
In the petroleum sector, there are many different skillsets that come together to provide collaboration and engineered solutions that ultimately deliver optimal asset value of the reservoir. At the core of Halliburton’s identity, execution is one of the critical parts of our commitment to our customers. Not every one of our 60,000 employees are at the wellhead executing,
but all employees understand the value of what takes place on the job site and that they play a role in enabling safe and quality service deliverability. The on-the-job training that we will provide to these future leaders of Egypt’s Petroleum sector will enable them to make better and more collaborative decisions when shaping the future of Egypt.
In your opinion, how will the Modernization Project reshape the oil and gas industry in Egypt?
Human capital development is key to the continual cycle of our business. The investment and development of a diverse workforce provide us with the best talent for our ongoing success in our organizations and locations. I see the Modernization Project as a baseline and the right step toward achieving this sustainability.
As the Egyptian petroleum sector is rapidly developing, what are Halliburton’s top priorities in Egypt as it \turns into a regional energy hub?
At this point, our biggest priorities are to train the local workforce through on-site training and provide an opportunity for many of the participants to gain experience outside of Egypt and eventually utilize this experience in Egypt when local activity ramps up. Additionally, the country’s vast reservoirs, across both deepwater and mature fields, provide Halliburton with an exciting playing field where we can develop and optimize technology to maximize the country’s local assets.
What is your current position in mature and brownfield development in Egypt?
We see mature fields as an area for robust technology implementation and optimization. Halliburton works globally across many mature and brownfields where we have improved the recovery factor through collaboration and engineered solutions with our customers. Our recent acquisition of Summit ESP, a leading provider of electrical submersible pump technology, strengthens our artificial lift capabilities, when combined with our Multi-Chem product service line, and helps us deliver improved solutions to help our customers’ mature and brownfield development. We see the advancements in well intervention also playing into Halliburton’s strength by combining our production solutions line of SPECTRUM® services which combines intervention and diagnostic services to help monitor and optimize job performance in real-time with greater efficiency, increased reliability, and higher investment returns. When coupled with our Wireline and Perforating technologies, we see further improvement in the recovery of mature and brownfields such as the Electromagnetic Pipe Xaminer® V (EPX™ V) service. EPX™ V provides intervention capabilities to help improve well surveillance with metal-loss quantification of up to five downhole tubulars, which is critical in mature fields.
Halliburton aims to increase returns to investors and shareholders. Where does Egypt stand in your plans to expand your activities and increase the efficiency of your operations?
Halliburton is celebrating its 100th anniversary this year, and we have been present in Egypt for 50 out of those 100 years. Egypt is an important part of our portfolio and we are encouraged by the prospects for oil and gas services and the fiscal improvements in the economy at large. We remain committed to making a positive contribution to the growth of hydrocarbon resources in Egypt, and we have to do that thoughtfully by continuing to drive efficiencies with the right levels of investment, so we can also balance our shareholder expectations. Over the past five years, Halliburton has delivered on our commitment to the Egyptian market by having access to assets and continuing to bring in technology and process improvements to improve the overall cost per barrel of oil equivalent (BOE). With our market commitment to improve asset velocity and cash flows, our collaboration with customers becomes more important to ensure all parts of the value stream are optimal. In the current market, where assets are becoming tighter and the cost of doing business is increasing, we need to remain focused on efficiency, cost controls and to recover discounts that were not offset by these optimization measures.
Will Halliburton introduce new technologies and techniques to the Egyptian market in the coming period?
Absolutely. At Halliburton, we collaborate and engineer solutions to maximize asset value for our customers. This means we work closely with the customer to identify an engineered solution to their challenges which allows us to deliver a much more sustainable and reliable service. We are excited about the vast technology offerings we are deploying in Egypt that truly set Halliburton apart from our competitors. Technology such as:
- The iCruise™ rotary steerable system is the most intelligent drilling tool on the market. It combines smart technology – advanced electronics, sophisticated algorithms, multiple sensors, and high-speed processors – with some of the highest mechanical specifications on the market.
- Our EarthStar™ ultra-deep resistivity service is a new logging-while-drilling sensor that delivers the unique ability to map reservoir and fluid boundaries more than 200 feet from the wellbore – over twice the depth of current industry offerings. It gives operators a much clearer view of their reservoir, helping to precisely geosteer their wells and achieve higher production
- Baroid has revolutionized the market with its N-FLOW™ filter cake breaker for Western Desert and Mediterranean wells to improve reservoir production.
- Halliburton drill bits and services unit has deployed the latest technologies in drill bits through Cerebro™ Electronic Data Capture System which gives reliable, high-data-rate measurements of inclination, vibration, rotation, and the earth’s magnetic field movement around the bit. Technology such as the GeoTech™ premium cutters, Shyfter™ Depth of cut controller elements and Stega™ Efficient backup layout are applied for optimizing drill bit performance through increasing bit life and improved rate of penetration (ROP) in different drilling applications in Egypt.
- LockCem™ Cement System is creating cement integrity during the life of the well through combining resin technology with conventional methods.
- Halliburton continues to maximize the asset value by AccessFrac® Solution package that ensures each perforated zone receives the right treatment and connects all the potential areas that may be ignored. Halliburton continues to be a leader in the analysis and execution of re-fracturing wells in a mature field that helps bring the production back to an economical level.
- In an industry where time is money, the ability to optimize well interventions and make decisions quickly is invaluable. Our RELAY™ system, digital SL conveyance system with a wide range of real-time capabilities, is an intelligent conveyance system for well intervention operations— enables immediate decision-making.
We are proud that many of these engineered solutions have reached many readers through the Egypt Oil & Gas newspaper over the past few years.
This year, Halliburton is celebrating its 100th anniversary. How is the company combining legacy operations with modern 4.0 industry technologies to cope with the market changes?
Our company started with a single product in a single location and today is a global company operating in more than 80 countries and providing a wide range of products and services. Reaching our 100th anniversary is a testament to our employees, past and present, and our rich history of growth, innovation and unparalleled customer service. Since the beginning, our company has been at the forefront of being a technology innovator – from our first application of hydraulic fracturing technology to our automated technology today. Our products and services help make more productive wells and improving overall efficiencies. Our focus is on improving production gaps and reservoir engineering workflows via the deployment of the DecisionSpace® platform and Voice of the Oilfield™ solution.
The digital contributions of each product line are advancing at a rapid pace, and we realize the strength of connectivity at the customer interface. Well Construction 4.0 is our digital approach to automated well construction that helps reduce planning time, increase efficiency, and improve decision making. We can now leverage a single, integrated and open platform to deliver solutions that increase collaboration and connectivity across drilling activities, including field development planning, well design process, and well execution. This approach allows us to collaborate with operators on a more advanced level and design tailored solutions.
With 60,000 employees of 140 nationalities in more than 80 countries, what are the most important policies that help keep your workforce motivated and ensure a fair and balanced work environment?
Halliburton is an equal opportunity employer and our Code of Business Conduct (COBC) forms the foundation for our employees to be treated fairly. The Halliburton COBC gives employees the responsibility to report anything that is not in line with Halliburton’s values. This is a great motivation for employees to feel empowered and to be part of a 100-year-old organization.
Egypt Oil & Gas is celebrating its 150th issue this month, is there something you would love to say on this occasion?
Congratulations to Egypt Oil & Gas on this important publishing milestone. Your 150th issue is a significant achievement and a true testament to the outstanding news you produce for our industry. Keep up the good work, Mohamed Fouad, and the entire EOG team!