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bp and Worley Joint Venture to Improve the Efficiency of Oil and Gas Projects

Last Updated on 11th June 2024

Worley and bp have announced a global strategic alliance to enhance efficiency and value creation across bp's oil and gas projects worldwide. This alliance is set to revolutionize how site projects are managed, focusing on continuous improvement and capital efficiency.

 

bp and Worley sign the strategic alliance

 

The joint venture will improve capital efficiency in site projects, saving an initial estimated USD 40 million over two years in locations where Worley holds a services contract. The locations include the Gulf of Mexico, Oman, Mauritania, and Senegal oil and gas producing regions and the Cherry Point, Whiting, Rotterdam, Gelsenkirchen, and Lingen refineries.

 

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The primary goal of this alliance is to improve operational effectiveness through centralization, standardization, and simplification. The alliance aims to drive efficiency across engineering, procurement, construction development, and management by leveraging digital capabilities and global expertise. This approach will enhance safety, reduce emissions, and lower costs, increasing the value of operations.

 

bp and Worley will deepen collaboration across a portfolio of site projects by leveraging digital capability and global scale to further drive efficiency across engineering, procurement, and construction (EPC). The alliance formalizes a long-standing relationship built on shared objectives, trust, and commitment to excellence. 

 

Earlier this year, Worley signed a five-year global framework agreement to provide EPC services covering bp’s global refinery assets and ventures into new energy initiatives. Worley also executes EPC contracts across bp’s upstream projects.

 


Background of the Alliance

bp and Worley have a history of collaboration to enhance efficiency and value in bp’s projects. Building on a decade-long partnership, their strategic alliance focuses on operational effectiveness, digital innovation, and global expertise to drive cost savings and safety improvements. 

 

This significant partnership represents the first alliance with bp’s operations business and includes an international framework agreement for engineering, procurement, and construction management services. The coalition is part of bp’s strategy to navigate the complexities of the energy sector and transition to lower-carbon sources, emphasizing the importance of digital transformation and expertise in achieving excellence in the competitive energy landscape.

 


Key Focus Areas of the Alliance

Operational Effectiveness: By centralizing, standardizing, and simplifying operations, the alliance aims to increase operational effectiveness.

 

Digital Capability: Leveraging digital technology to drive efficiency across engineering, procurement, construction development, and management.

 

Safety and Emissions: A shared focus on improving safety, reducing emissions, and engaging in high-value activities.

 


Read: Oil and Gas Giant ConocoPhillips Acquires Marathon Oil for $17 Billion


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