Oil firms BP and Aker BP have entered into a pact to explore ways of developing pioneering new technologies together.
They expect to invest in technological advancements, including developments in digital twins, advanced seismic techniques and processing, and subsea and robot technology.
Aker BP was formed in 2016 through the combination of Det norske oljeselskap and BP’s Norwegian exploration and production business.
Steve Cook, BP Technology’s chief commercial officer, said: “BP has built a strong track-record of targeted investment through BP Ventures in a range of technologies and sectors.
“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.”
Aker BP Karl Johnny Hersvik said: “Aker BP is very pleased to expand the cooperation with BP. 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.”