Halliburton Company and Intelligent Inspection Corporation Sign Agreement To Deliver Robotic Technology

New Technology to Significantly Reduce the Cost of Operations for Drilling And

Production



Apr 30, 2001, 01:00 ET from Halliburton Company and Intelligent Inspection Corporation

    DALLAS, April 30 /PRNewswire/ -- Halliburton Company (NYSE:   HAL) and
 Intelligent Inspection Corporation (IIC) have signed a definitive agreement
 for the development, marketing, and delivery of robotic technology to the oil
 and gas industry.  The new technology is expected to significantly reduce oil
 and gas operational costs, especially in deepwater regions like the Gulf of
 Mexico, Brazil, and West Africa.
     As part of this agreement, Halliburton and IIC will work together to
 develop, market, and deliver various robotic and artificial intelligence
 technologies that can improve oil and gas exploration, drilling, and
 production operations.  IIC has developed several systems that will be adapted
 for the energy industry, specifically, an intelligent robotic device,
 MicroRig(TM), which operates autonomously in the wellbore of a producing oil
 or gas well.
     The first line of products, based on IIC's MicroRig(TM), will consist of
 several wireless systems capable of performing downhole measurements and
 operations.  The systems, which are targeted for initial use within horizontal
 and highly deviated wells, will be significantly more cost-effective than
 current tubing-conveyed methods associated with well logging and intervention.
     "The opportunity to work with IIC on robotic and artificial intelligence
 technologies enhances Halliburton's ability to achieve our deepwater goals,
 and to help operators reduce oil and gas operating and development costs,"
 said Edgar Ortiz, president and chief executive officer of Halliburton's
 Energy Services Group.  "Robotic technology will play a significant role in
 the future as more and more autonomous technologies are developed within our
 industry."
     Dale Church, chairman and chief executive officer of Intelligent
 Inspection Corporation, said, "We are pleased to be working with Halliburton
 to bring our technology to the oil and gas industry.  We believe this synergy
 will help us gain a major position in the oil and gas sector and, in
 particular, the rapidly growing deepwater drilling market."
     IIC also has an exclusive agreement with the leading developer of highly
 intelligent and affordable micro robotic devices, iRobot of Somerville, MA,
 for the development and commercialization of iRobot's robotic and artificial
 intelligence technologies in the energy industry.  iRobot, Inc., formerly
 known as IS Robotics, was formed in 1990 by scientists previously working at
 MIT.
     Intelligent Inspection Corporation was founded in Somerville,
 Massachusetts in 1996 to commercialize and bring iRobot's artificially
 intelligent software and robotics technology to the Energy Industry.  IIC is
 currently performing a Consortium Project funded by BP, Marathon Oil Company
 and Statoil to develop the first generation of the MicroRig(TM).  IIC owns and
 controls the technology that will enable it to provide "intelligent" well
 management services to oil and gas exploration and production companies.  IIC
 believes it can provide these services at substantially lower cost with
 markedly higher results than presently available today.
     Halliburton Company, founded in 1919, is the world's largest provider of
 products and services to the petroleum and energy industries.  The company
 serves its customers with a broad range of products and services through its
 Energy Services Group and Engineering and Construction Group business
 segments.  The company's World Wide Web site can be accessed at
 www.halliburton.com.
     Note:  MicroRig(TM) is a trademark of Intelligent Inspection Corporation.
 
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SOURCE Halliburton Company and Intelligent Inspection Corporation
    DALLAS, April 30 /PRNewswire/ -- Halliburton Company (NYSE:   HAL) and
 Intelligent Inspection Corporation (IIC) have signed a definitive agreement
 for the development, marketing, and delivery of robotic technology to the oil
 and gas industry.  The new technology is expected to significantly reduce oil
 and gas operational costs, especially in deepwater regions like the Gulf of
 Mexico, Brazil, and West Africa.
     As part of this agreement, Halliburton and IIC will work together to
 develop, market, and deliver various robotic and artificial intelligence
 technologies that can improve oil and gas exploration, drilling, and
 production operations.  IIC has developed several systems that will be adapted
 for the energy industry, specifically, an intelligent robotic device,
 MicroRig(TM), which operates autonomously in the wellbore of a producing oil
 or gas well.
     The first line of products, based on IIC's MicroRig(TM), will consist of
 several wireless systems capable of performing downhole measurements and
 operations.  The systems, which are targeted for initial use within horizontal
 and highly deviated wells, will be significantly more cost-effective than
 current tubing-conveyed methods associated with well logging and intervention.
     "The opportunity to work with IIC on robotic and artificial intelligence
 technologies enhances Halliburton's ability to achieve our deepwater goals,
 and to help operators reduce oil and gas operating and development costs,"
 said Edgar Ortiz, president and chief executive officer of Halliburton's
 Energy Services Group.  "Robotic technology will play a significant role in
 the future as more and more autonomous technologies are developed within our
 industry."
     Dale Church, chairman and chief executive officer of Intelligent
 Inspection Corporation, said, "We are pleased to be working with Halliburton
 to bring our technology to the oil and gas industry.  We believe this synergy
 will help us gain a major position in the oil and gas sector and, in
 particular, the rapidly growing deepwater drilling market."
     IIC also has an exclusive agreement with the leading developer of highly
 intelligent and affordable micro robotic devices, iRobot of Somerville, MA,
 for the development and commercialization of iRobot's robotic and artificial
 intelligence technologies in the energy industry.  iRobot, Inc., formerly
 known as IS Robotics, was formed in 1990 by scientists previously working at
 MIT.
     Intelligent Inspection Corporation was founded in Somerville,
 Massachusetts in 1996 to commercialize and bring iRobot's artificially
 intelligent software and robotics technology to the Energy Industry.  IIC is
 currently performing a Consortium Project funded by BP, Marathon Oil Company
 and Statoil to develop the first generation of the MicroRig(TM).  IIC owns and
 controls the technology that will enable it to provide "intelligent" well
 management services to oil and gas exploration and production companies.  IIC
 believes it can provide these services at substantially lower cost with
 markedly higher results than presently available today.
     Halliburton Company, founded in 1919, is the world's largest provider of
 products and services to the petroleum and energy industries.  The company
 serves its customers with a broad range of products and services through its
 Energy Services Group and Engineering and Construction Group business
 segments.  The company's World Wide Web site can be accessed at
 www.halliburton.com.
     Note:  MicroRig(TM) is a trademark of Intelligent Inspection Corporation.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X37315385
 
 SOURCE  Halliburton Company and Intelligent Inspection Corporation