Halliburton specializes in applying secondary, improved and enhanced oil recovery techniques to extend and, for a period of time, reverse the decline curve.
In one field, a client had 80 percent of the hydrocarbon resource still in place, but pressure had dropped to one-third of its original level. The client asked Halliburton to evaluate waterflooding to increase production and extend reservoir life.
The customer was prepared to spend approximately $100 million USD on the project. Using numerical algorithms and stochastic analysis, Halliburton determined that the original water-flooding plan was not the optimal solution. An alternative chemical enhanced-oil-recovery plan could increase NPV approximately 300% compared to the base case.