UK-based energy giant and LNG player BP has signed a ventures cooperation agreement with Aker BP to explore possible areas of cooperation in the development and deployment of advanced technologies in their businesses.
Through their planned strategic alliance, the duo intends to explore potential venture capital investments targeting technology and innovation improvements, including developments in digital twins, advanced seismic techniques and processing, and subsea and robot technology, according to a joint statement on Wednesday.
The alliance is also expected to include identifying and evaluating innovations which could improve the environmental performance of offshore oil and gas production, the statement said.
Aker BP was formed in 2016 through the combination of Det norske oljeselskap and BP’s Norwegian exploration and production business.