BP has entered into a venture cooperation agreement with Aker BP to explore potential areas of cooperation in the development and deployment of advanced technologies in its businesses
BP and Aker BP intends to explore potential venture capital investments to improve technology and innovation, digital twin development, advanced seismic techniques and subsea and robot technology.
The alliance is also expected to include identifying and evaluating innovations which could improve the environmental performance of offshore oil and gas production.
Steve Cook BP Technology’s chief commercial officer, said, “Working together with Aker BP, our alliance will be focused on identifying technologies that could be transformational in the upstream sector, enabling the digital transformation of subsurface characterisation and workflows. Our alliance will help both companies identify and invest in innovation that will help secure and advance our industry’s future. We believe that working together can deliver real value for both BP and Aker BP.”
Karl Johnny Hersvik, CEO of Aker BP, noted, “We want to leverage this alliance to expand our capacity to identify innovative technology companies that can help us to solve our key business challenges. Aker BP targets to become a preferred partner for such companies through various cooperation models, including potential equity investments.”
