Russian oil company Gazprom Neft said on Thursday that it has signed a memorandum of understanding with U.S. oilfield services company Halliburton to develop a program of technological cooperation on well construction projects and the optimization of production at the Achimov oil formation in western Siberia, Reuters reported.
“The companies plan to develop a program of technological cooperation in the framework of well construction projects and the optimization of production at the Achimov formation of Gazprom Neft oil fields at all stages – from research and development to the implementation of specific technologies and solutions. Gazprom Neft will also consider using Halliburton digital solutions,” the press release read.
According to Gazprom Neft’s Deputy Chairman of the Management board Vadim Yakovlev, the new stage of cooperation with Halliburton will open up additional prospects in terms of the exchange of experience in digitalizing processes and increasing the efficiency of the construction of complex high-tech wells.
Graeme Taylor, vice president of the Halliburton department in Russia, on his part, said that his company was proud of maintaining cooperation with Gazprom Neft and expressed the intent to continue working together to create a technology program and maximize the value of assets.
The memorandum of understanding was signed in continuation of the arrangements reached at the 2017 St. Petersburg Economic Forum (SPIEF).