The framework agreement is five years firm with the option to extend for a further five years and will be based on an integrated well delivery model with aligned incentives.

The new alliance approach focuses on increasing collaboration efficiency and enabling standardization and simplification of processes, ultimately shortening the lead time from discovery to first oil. In the alliance, Maersk Drilling will utilize its jack-ups as a platform to implement digital solutions to improve drilling efficiency.

“Maersk Drilling is fully committed to reducing well costs for our customers and we see great potential in a deeper collaboration across the industry to eliminate inefficiencies and create joint value. The partnership with Aker BP is a prime example of this”, says Jørn Madsen, CEO of Maersk Drilling.

The process of improving performance through deeper collaboration will commence immediately.

Jørn Madsen, CEO of Maersk Drilling, Joe D. Rainey, President - Eastern Hemisphere at Halliburton, Karl Johnny Hersvik, CEO at Aker BP, Simen Lieungh, CEO at Odfjell Drillin / Credit: Maersk Drilling