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Neptune Energy adopts new cloud based digital system for drilling and wells, aims to save $20m

© Neptune EnergyNeptune Harbour merger
Neptune's Cygnus Alpha platform.

Neptune Energy has announced plans to adopt new cloud based technologies in an effort to improve efficiency and significantly reduce non-productive time.

The private-equity-backed firm has signed a three-year agreement with Halliburton to use its DecisionSpace 365 well construction suite of cloud applications, which will be implemented across Neptune’s global drilling and wells activities.

The move, which could lead to annual savings of more than $20 million (£15.3m), will create a platform for the Aberdeen-based exploration and production firm’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.

Neptune claims the move to a cloud-based solution will allow it to incorporate artificial intelligence, machine learning and data analytics, which could solve upstream challenges and support the company’s overall digital transformation.

DecisionSpace will allow the firm to build “digital twins” of its wells to not only plan and track their progress throughout their lifecycle, but to model opportunities to optimise performance and predict potential problems before they occur.

As part of Neptune’s digital subsurface programme, it is also working to develop new tools to scan and interpret “vast quantities” of seismic data, with the aim of “significantly reducing” time spent on administrative work and preparation.

Head of Drilling & Wells, Brett McIntyre, said: “The industry faces unprecedented challenges at this time and new digital technologies are enabling E&P companies to be more efficient, maximise the value of their activities, reduce costs and support employees.

“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 digitisation strategy aims to enable Neptune to be safer and more responsible, ensuring production efficiency and profitable growth from our globally-diverse, gas-weighted portfolio. 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.”

Ahmed Kenawi, Halliburton Senior Vice President for Eurasia, Europe and Sub-Saharan Africa said: “We are excited to collaborate with Neptune Energy on the digital transformation of their drilling and wells activity. Our DecisionSpace 365 cloud applications powered by the iEnergy Hybrid Cloud will increase efficiency and productivity across the well lifecycle to maximise asset value.”

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