Aker BP has renewed its partnership with SLB and Stimwell Services, extending the alliance for another five years to further accelerate and enhance oil production.
The renewed agreement, signed by the CEOs of all three companies at Aker BP’s Fornebu headquarters on 2 April, aims to continue the success of the alliance formed in 2019.
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The partners aim to deliver top-quartile performance while developing future-proof capabilities over the next five years.
This includes scaling up digital transformation through deeper integration between subsurface and operational domains and expanding the use of Aker BP’s Integrated Operations Centre for remote operations.
Aker BP CEO Karl Johnny Hersvik said: “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 [exploration and production] company of the future.”
The alliance will also play a key role in bringing wells on stream across Aker BP’s field development projects.
SLB CEO Olivier Le Peuch said: “Increasing production and recovery from maturing assets is a top priority across the industry, and this alliance demonstrates how we can drive progress together through the power of partnership. The complex challenges facing our industry will increasingly require deep collaboration and trust across teams, and this alliance has been a cornerstone example of how powerful driving innovation together can be.”
The newly upgraded stimulation vessel will be utilised to optimise the new Valhall PWP wells, significantly contributing to future production.
StimWell Servies managing director Sami Haidar said: “Stimulation has been critical in unlocking and increasing the recovery from tight reservoirs such as Valhall. During the last five years, the alliance working together, managed to successfully develop very tight areas of the field, by using innovative technology which significantly reduced the execution time, and CO₂ footprint and making it economic.”
The alliance has supported Aker BP’s operated assets in achieving production targets through collaboration, digitalisation and innovative technology.
Achievements include simultaneous operations using jack-up rigs and the world’s first autonomous intervention operation.
Currently, planning and execution are managed through digital workflows, resulting in increased productivity, reduced risk and improved success rates.
The alliance strategy is focused on transforming offshore well intervention and stimulation over the next five years.
