AP NEWS
ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

TechnipFMC and Halliburton’s Subsea Fiber Optic Solution Selected by OTC and ExxonMobil

July 7, 2021 GMT

HOUSTON--(BUSINESS WIRE)--Jul 7, 2021--

TechnipFMC (NYSE:FTI) and Halliburton Company (NYSE: HAL) today announced they received an OTC Spotlight on New Technology Award ® (SONT) for their Odassea™ Subsea Fiber Optic Solution, an advanced downhole fiber optic sensing system. ExxonMobil selected the solution for its Payara development project in Guyana. The award followed completion of front-end engineering and design studies and qualifications.

“We are excited to win OTC’s Spotlight Award and deploy Odassea™ in Payara, the industry’s largest subsea fiber optic sensing project,” said Trey Clark, vice president of Halliburton Wireline and Perforating. “By collaborating with TechnipFMC, we combine our sensing and subsea expertise to enhance reservoir insight and to lower the total cost of ownership for our customers.”

The Odassea™ service integrates hardware and digital systems to strengthen capabilities in subsea reservoir monitoring and production optimization. Halliburton provides the fiber optic sensing technology and analysis for reservoir diagnostics. TechnipFMC provides the optical connectivity from the topside to the completions. Through this collaboration, operators can accelerate full field subsea fiber optic sensing, design, and execution.

ADVERTISEMENT

The Payara development, located 200 kilometers offshore Guyana in 1,800 meters water depth, is the third development within the Stabroek block with current discovered recoverable resources estimated at approximately 9 billion oil-equivalent barrels.

“To win the SONT award and to help our client enable an enhanced level of reservoir understanding are great achievements,” said Christina Johansen, Senior Vice President of TechnipFMC Subsea Product Management. “Solutions such as Odassea™ transform our clients’ project economics and demonstrate how we are continuously driving change in the industry.”

TechnipFMC and Halliburton are delivering Odassea™ solutions to multiple other subsea projects at all stages, from conceptual design to execution.

###

About TechnipFMC

TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

ADVERTISEMENT

TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

About Halliburton

Founded in 1919, Halliburton is one of the world’s largest providers of products and services to the energy industry. With approximately 50,000 employees, representing 140 nationalities in more than 80 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. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210707005766/en/

CONTACT: For Halliburton Investors:

Abu Zeya

Halliburton, Investor Relations

Investors@Halliburton.com

281-871-2633Media:

William Fitzgerald

Halliburton, External Affairs

PR@Halliburton.com

713-876-0105For TechnipFMC Investors:

Matt Seinsheimer

Vice President, Investor Relations

Tel: +1 281 260 3665

Email:Matt Seinsheimer James Davis

Senior Manager, Investor Relations

Tel: +1 281 260 3665

Email:James Davis Media relations Nicola Cameron

Vice President, Corporate Communications

Tel: +44 1383 742297

Email:Nicola Cameron Catie Tuley

Director, Public Relations

Tel: +1 713 876 7296

Email:Catie Tuley

KEYWORD: TEXAS UNITED STATES SOUTH AMERICA GUYANA NORTH AMERICA

INDUSTRY KEYWORD: OIL/GAS ENERGY

SOURCE: TechnipFMC plc

Copyright Business Wire 2021.

PUB: 07/07/2021 04:15 PM/DISC: 07/07/2021 04:15 PM

http://www.businesswire.com/news/home/20210707005766/en