Halliburton and A*STAR, Singapore’s main research agency, have launched the Next-Generation Energy Xccelerator Joint Lab (NEX Lab℠). This project aims to speed up the development and use of new technologies for completing oil and gas wells. The Singapore Economic Development Board (EDB) is also supporting the initiative. The launch event was led by Mr. Alvin Tan, Singapore’s Minister of State for Trade and Industry.
NEX Lab is a S$35 million project that will act as a space for research, engineering, and testing. The lab will help take ideas from early-stage development to real-world use by combining design, prototyping, and testing all in one program. By working together with Halliburton’s global expertise and Singapore’s local innovation network, NEX Lab℠ will create more demand for skilled workers in high-tech jobs and help build a stronger talent pool in Singapore.
Halliburton and ASTAR have been working together since 2019 through the ASTAR Advanced Remanufacturing and Technology Centre, investing over S$2 million in R&D to improve materials, design, workflow automation, and sensor development.
According to Coherent Market Insights, the Energy Transition Market is projected to grow at a CAGR of 9.9% during 2025 to 2032. Currently, the market is at USD 3.11 Trillion in 2025 and is expected to be around USD 6.03 Trillion by 2032. The market trend in the global energy transition industry points towards steady growth. The market is driven by the societal need to reduce greenhouse gas emissions and the falling costs of renewable energy technologies like solar and wind power.
“NEX Lab brings together Halliburton’s global expertise in well completions and A*STAR’s multidisciplinary research capabilities to advance cutting-edge technology that shapes the future of energy and the Future of Completions®,” said Shawn Stasiuk, senior vice president, Halliburton Completion and Production division. “The combination of our strengths will deliver innovative solutions that support customers within the full spectrum of completion technologies, including low-carbon applications for the evolving energy landscape.”
Prof Lim Keng Hui, assistant chief executive of A*STAR’s Science and Engineering Research Council, said, “A*STAR collaborates with global industry leaders like Halliburton to translate research into real-world solutions that benefit industries and support national priorities. Through NEX Lab, we will work with Halliburton to build advanced manufacturing and energy technology capabilities in Singapore and create opportunities for our scientific and engineering talent to deliver impact beyond the joint lab. NEX Lab will also help develop and qualify local suppliers, strengthening resilient, high-value energy supply chains.”
Source:
News Release: Halliburton
Company: Halliburton