Business Wire | Apr 7, 2021 07:09AM EDT

Halliburton and Optime Subsea Form Global Alliance

Apr. 07, 2021

HOUSTON--(BUSINESS WIRE)--Apr. 07, 2021--Halliburton Company (NYSE: HAL) and Optime Subsea today announced they formed a global strategic alliance to apply Optime's innovative Remotely Operated Controls System (ROCS) to Halliburton's completion landing string services. The companies will also collaborate and offer intervention and workover control system services leveraging Optime's Subsea Controls and Intervention Light System (SCILS) technology, a remote digital enabled system that compliments Halliburton's subsea intervention expertise.

The alliance will provide umbilical-less operations and subsea controls for deepwater completions and interventions delivering increased operational efficiencies while minimizing safety risk through a smaller offshore footprint. Halliburton will offer Optime's innovative technologies as a service across its global portfolio.

"We are excited to work with Optime and leverage their technologies within our existing subsea completions and intervention solutions," said Daniel Casale, vice president of Testing and Subsea. "Our alliance advances remote capabilities and provides a capital efficient solution, allowing customers to reduce safety risk, operational footprint, setup and run-time."

"We believe that strong mutual alliances across the vertical supply chain drives continuous improvements needed in our industry," said Jan-Fredrik Carlsen, CEO of Optime Subsea. "By solidifying this relationship with Halliburton and combining their well-established, reputable service and technology capabilities with Optime's innovative controls and intervention technology, more customers will have access to these cost-efficient subsea solutions."

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 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.

About Optime Subsea

Founded in 2015, Optime is an innovative and globally leading technological provider of subsea controls and intervention systems. With its headquarter in Notodden, Norway, and international office in Houston, TX, USA, it is a fully integrated system and services provider with all of the capabilities to optimize subsea well interventions and completions operations. Within this segment, their capabilities are delivering quick to market solutions, further reducing cost, size and improving operational efficiency - simplifying subsea (www.optimesubsea.com).

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CONTACT: For Halliburton Investors: Abu Zeya Halliburton, Investor Relations Investors@Halliburton.com 281-871-2633

CONTACT: Media: William Fitzgerald Halliburton, External Affairs PR@Halliburton.com 713-876-0105

CONTACT: For Optime Subsea Investor Relations Jan-Fredrik Carlsen Optime, Notodden, Norway jfc@optimesubsea.com +47 414 60 996

CONTACT: Media: Thor Lovland Optime, Houston, TX tal@optimesubsea.com +1 832 904 6842