BP and Aker BP Form Strategic Technology Venture Alliance

BP and Aker BP Form Strategic Technology Venture Alliance

BP and Aker BP Form Strategic Technology Venture Alliance

The FINANCIAL -- BP announced that it 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, BP and Aker BP intend 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. The alliance is also expected to include identifying and evaluating innovations which could improve the environmental performance of offshore oil and gas production.