Halliburton Turns to IBM Cloud to Help Evaluate Development Decisions for Oil and Gas Fields

ARMONK, N.Y., April 21, 2016 /PRNewswire/ -- IBM (NYSE: IBM) today announced that Halliburton has adopted IBM Cloud to run its sophisticated reservoir simulation software to help it better understand how complex oil and gas fields might behave under different development scenarios.

Halliburton, a global service provider to the oil and gas industry, uses large reservoir simulation models to help oil and gas companies select the right development strategy to maximize production from oil and gas fields. These decisions can involve billions of dollars for a large field.

Using high performance computing and the GPU features of the IBM Cloud, Halliburton can quickly run hundreds of simulation cases to forecast the possible behavior of complex oil and gas fields. Through the use of the IBM Cloud, which features both bare metal and virtual servers, Halliburton has the flexibility to scale up and upgrade to the latest hardware based on customer needs. Halliburton can also switch from a capital expenditure to an operating expenditure model, reduce costs, and accommodate business needs based on demand.

"Selecting the right development strategy is a multibillion-dollar decision for a large oil and gas field," said Steven Knabe, a director in Halliburton Consulting, which specializes in formulating development plans for both new and mature fields. "Using high performance computing of the IBM Cloud, we can run very detailed simulation models and evaluate a wide range of field development options, which translates into better field development plans for our clients and a competitive advantage for our business."

"Halliburton is a global energy services leader that requires vast scalability and speed," said Jim Comfort, CTO and General Manager, Architecture, IBM Cloud. "They push the boundaries of computing and big data every day to create the insights that drive the business. The IBM Cloud platform was designed to support leaders like Halliburton as they build cognitive businesses at scale."

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SOURCE IBM