Aker BP, in partnership with SLB and Stimwell Services, has renewed its alliance agreement for an additional five years, aiming to enhance and accelerate oil production. The updated agreement was signed by the CEOs of all three companies at Aker BP’s headquarters in Fornebu on April 2.

Source: AkerBP

Since its formation in 2019, the alliance has effectively assisted Aker BP in achieving its production targets for its operated assets.

Through a combination of collaboration, digitalization, and innovative technology, the alliance has established new benchmarks for safe, efficient, and cost-effective operations. Key achievements include simultaneous operations with jack-up rigs, a decreased backlog of locked-in barrels, and the world’s first autonomous intervention operation. Currently, all planning and execution are conducted through digital workflows, leading to increased productivity, reduced risk, and higher success rates.

Looking forward, the alliance's strategy remains steadfast: to revolutionize offshore well intervention and stimulation.

Over the next five years, the partners plan to maintain top-quartile performance while further enhancing future-proof capabilities. This will involve scaling up digital transformation through deeper integration of subsurface and operational domains, expanding the use of Aker BP’s Integrated Operations Centre for remote operations, and accelerating the introduction of new technologies.

Strategic partnerships are essential to shaping the future of our industry. At Aker BP, we remain committed to the alliance model, which creates value through long-term collaboration. It enables us to increase productivity, maintain world-class performance, and deliver oil and gas with low cost and low emissions. This is how we position ourselves as the E&P company of the future

^{Karl Johnny Hersvik, CEO of Aker BP}

The alliance will also be instrumental in bringing wells online across Aker BP’s field development projects. Specifically, the newly upgraded stimulation vessel will be utilized to optimize the new Valhall PWP wells, making a significant contribution to future production.