Many of Halliburton’s most important innovations are better ways to bring the right experts and the right experience to bear on the right problems at the right time. This is knowledge management, and it multiplies the value of individual technologies and the expertise of Halliburton’s people. These innovations include products, services, and systems for our customers as well as processes used inside Halliburton to deliver better services and solutions. Both allow the organization to use its people and their skills and knowledge more effectively.

Landmark Graphics is the leader in helping customers integrate knowledge within their organizations. In 2000, two major customers, Texaco and Petrobras in Colombia, signed contracts with Landmark to improve their internal information systems. Texaco will receive a broad range of integrated solutions for exploration and production that will create a new electronic upstream environment, including development of new workflows to help Texaco execute faster and with lower risk. Petrobras will receive services designed to integrate data, people and processes, improve risk assessment and speed up decision-making.

iDims, ™ a Landmark knowledge management product launched in 2000, gives customers online intranet access to their drilling and well services operations data. This access via a web browser will dramatically reduce lead time for data acquisition and provide operators both current well data and historical data from any location. This is an important step in putting critical information at the fingertips of decision makers.

In addition, Halliburton acquired a 15% share of Petroleum Place, an Internet marketplace serving the oil and gas property acquisition and divestiture market. Landmark will provide online access to its software through Petroleum Place, and participate in the development of new software for Internet-based property evaluations. This venture capitalizes on the fact that the majority of the world’s exploration and production data already resides in Landmark’s OpenWorks™ digital format. Petroleum Place will allow operators to use Landmark’s interpretation and analysis tools to improve their acquisition and divestiture processes.

Landmark has also created an important knowledge management service for Halliburton’s internal use — Lattix Locator, a database of the skills and experience of the company’s staff for all disciplines and all areas of the business. Project managers use Lattix Locator to find the right people for the job — the ones with the exact knowledge needed at that moment, anywhere in the world.

On the level of individual products and services, Baroid Drilling Fluids launched Wellsight 2000™, a central database built to contain all the drilling fluids experience on all the company’s jobs worldwide. With Wellsight 2000™ engineers can cross-reference conditions and solutions and call on the accumulated knowledge of the world’s leading team of drilling fluids experts. Knowledge of the best approach to any situation will be instantly available to Baroid people on any rig, anywhere in the world.

Finally, the company’s knowledge management innovations blend into our e-business strategy. The most important use of the Internet, and the one that will deliver the greatest competitive advantage, is its use as a venue for collaboration, knowledge sharing and work sharing. Practically all the company’s knowledge management innovations use the Internet.

Taking these ideas one step farther, helping to bring about the new world where sharing and integrating knowledge is the main source of value creation, Halliburton founded GrandBasin. GrandBasin is a web-based unit of Landmark that will provide a virtual, integrated E&P workspace for upstream companies and professionals. It will be the Internet site where professionals working on the same project — customers, contractors, subcontractors — can work together using a secure high-performance network, technical applications and computing power, a community portal and data integration. GrandBasin will market to the oil and gas industry as a whole the kind of integration and opportunity for collaboration that has proven so effective inside Halliburton.