Aker BP, SLB, Stimwell Renew Alliance for Boosting Oil Production
April 3, 2025
Aker BP, together with SLB and Stimwell Services, has extended its well intervention and stimulation alliance agreement for another five years to further accelerate and boost oil production.
Formed in 2019, the alliance has supported Aker BP’s operated assets in meeting production targets.
By combining collaboration, digitalization and innovative technology, the alliance has set new benchmarks for safe, efficient and cost-effective operations.
Milestones include simultaneous operations using jack-up rigs, a reduced backlog of locked-in barrels, and the world’s first autonomous intervention operation.
Looking ahead, the alliance strategy remains to transform offshore well intervention and stimulation.
Over the next five years, the partners aim to continue delivering top-quartile performance while further developing future-proof capabilities.
This includes scaling up digital transformation through deeper integration between subsurface and operational domains, expanding the use of Aker BP’s Integrated Operations Centre for remote operations, and accelerating the deployment of new technologies.
The alliance will also play a key role in putting wells on stream across Aker BP’s field development projects. In particular, the newly upgraded stimulation vessel will be used to optimize the new Valhall PWP wells, contributing significantly to future production.
“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 company of the future,” said Karl Johnny Hersvik, CEO of Aker BP.
“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,” added Olivier Le Peuch, CEO of SLB.
