Siguler Guff and Halliburton Announce Joint Venture for Emissions Management Software
Halliburton Company (NYSE: HAL) and Siguler Guff & Company, LP (“Siguler Guff”) today announced the launch of Envana Software Partners, LLC. The new venture provides critical emissions management software-as-a-service (SaaS) solutions to track greenhouse gas emissions in the oil and gas industry and beyond.
The Envana™ digital emissions management solution provides a smarter and more accurate picture of emissions, which gives companies actionable information to manage and reduce their total carbon footprint. The Halliburton-created software incorporates the company’s operational expertise and oilfield best practices. Future Envana products that are now in active development will support methane detection and quantification management.
The venture’s first offering, Envana Catalyst, is a SaaS solution that helps increase transparency of the environmental impact of drilling, completions, and production operations. It can improve the visibility of greenhouse gas emissions tracking and forecasting companywide, and can provide support for actionable recommendations throughout upstream asset life, from planning and design through execution. Envana Catalyst allows customers to choose the methodologies used to estimate emissions from a library of emissions sources tailored to the oil and gas industry, update them as needed, and track any changes.
With its documented API, Envana Catalyst can integrate with existing customer software to automate emissions forecasting and tracking, or users can model emissions manually using the Envana Catalyst interface. Halliburton currently uses Envana Catalyst to help monitor and manage the emissions footprint of its products and services.
“Envana provides breakthrough SaaS emissions management solutions and is the latest example of how innovation adds to sustainability in the oil and gas industry,” said Rami Yassine, senior vice president, Halliburton Drilling and Evaluation division. “Envana Catalyst provides digital solutions to generate actionable recommendations for emissions improvement throughout the asset lifecycle.”
Halliburton Landmark will serve as the channel partner for the new venture by providing sales support through its global relationships and reach. Built on the flexibility and operational fidelity of iEnergy® hybrid cloud, the Halliburton Landmark secure cloud environment, Envana Catalyst delivers emissions data from planning and operations to users. Envana Catalyst is available both as a standalone solution and, as additional functionality, integrated into E&P workflows within the Halliburton DecisionSpace® 365 suite of products.
“Landmark’s integration of Envana Catalyst to enhance existing workflows and help mitigate emissions is an industry first,” said Nagaraj Srinivasan, senior vice president of Landmark, Halliburton Digital Solutions, and Consulting. “I’m excited about the impact Envana can have in the rapidly evolving emissions management market.”
Drew Guff, Co-Managing Partner and Chief Investment Officer of Siguler Guff, said, “The formation of Envana could not have come at a better time for the energy industry. Operators can utilize Envana to bridge corporate sustainability with models that are easily integrated from a trusted industry leader. Siguler Guff’s investment in Envana builds on the firm’s increasing commitment to the digital sector.”
PR Panigrahi, Managing Director and Head of Energy Investments of Siguler Guff, added, “We could not be more excited to formally announce Envana’s formation. The energy industry will benefit tremendously from emissions data analytics driven by artificial intelligence and machine learning that will guide short and long-term decision making for responsible energy development.”
More information can be found at www.envana.com.