HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) today announced it has signed a strategic agreement with the Advanced Remanufacturing and Technology Center (ARTC) to become an anchor member, which will allow Halliburton to collaborate across industries with research and development projects that will advance next-generation technologies. Halliburton is the only oilfield services company with membership in ARTC.
As an anchor member of ARTC, which is led by Singapore’s Agency for Science, Technology and Research (A*STAR), Halliburton will leverage the organization’s pool of engineers and researchers to help drive the development of collaborative solutions that will increase value for our customers.
“We are excited about the possibilities to advance the way we complete oil and gas wells through harnessing the power of innovative ideas from outside our industry,” said Dr. Sriram Srinivasan, vice president for Global Technology with Halliburton. “Singapore is a world leader in cutting edge research, and we look forward to lending our expertise to the development of technologies for new markets.”
“I am pleased to have Halliburton join the ARTC consortium, and I look forward to our adventure of co-creation and open innovation. This partnership will allow us to explore advanced manufacturing technologies that could transform the sector,” said ARTC’s chief executive officer, Dr. David Low. “With Halliburton onboard, I am optimistic that this will spark new opportunities for advanced manufacturing R&D in the energy sector and local enterprises in Singapore.”
Khalil A. Bakar, director of Energy & Resources for the Singapore Economic Development Board, said, “Halliburton’s partnership with ARTC reflects the growing technical capabilities in Singapore and the company’s continued confidence in Singapore as a key innovation node in the region. This is a positive example of how oil & gas companies can collaborate with Singapore to develop and test innovative solutions to advance next-generation technologies, enhance competitiveness and further develop the industry.”
ARTC is a leading public-private partnership platform with over 70 members ranging from global multinational corporations to small and medium enterprises. ARTC focuses on advanced manufacturing and remanufacturing and serves to accelerate the transfer of innovation from applied research to industrial applications.
Founded in 1919, Halliburton celebrates its 100 years of service as one of the world's largest providers of products and services to the energy industry. With 60,000 employees, representing 140 nationalities in more than 80 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir — from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.