Halliburton Donates Software Technology (27 Sep 2010)
Halliburton (NYSE: HAL) announced that it is donating geoscience and petroleum engineering software technology to the Universiti Teknologi PETRONAS for use in academic programmes during a signing ceremony held at PETRONAS Twin Towers, Kuala Lumpur on 27 September 2010. UTP was represented by Datuk Dr Zainal Abidin Haji Kasim, Rector and CEO while Halliburton was represented by its Area Vice President, Mr Rao Abdullah during the signing ceremony. It was witnessed by PETRONAS’ President and Chief Executive Officer, Datuk Shamsul Azhar Abbas and Halliburton's President of Eastern Hemisphere Operations, Mr. Ahmed Lotfy.
The software, valued at (US) $17.9 million, is from Halliburton's Landmark Software and Services business line. Landmark is the premier provider of software and technology services for the upstream oil and gas industry. Its software solutions, built for the Decision Space(r) environment, help improve insight from data in ways never possible before, across the entire exploration and production life cycle.
"We are continuously introducing new technology that changes the way oilfields are discovered, developed and produced," said Ahmed Lotfy, "With access to these technologies, we believe students and researchers can make valuable contributions to the exploration and production industry."
Datuk Dr. Zainal Abidin Hj Kasim said: "The technology that Halliburton has kindly presented to UTP is a critical element of our training and research programs in geophysics, geology and petroleum engineering. This software provides our students with direct experience to tools that have become industry standards and will improve research into methods of exploring and producing hydrocarbon."
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 optimising production through the life of the field.
