bp and Worley Forge Strategic Alliance to Drive Efficiency and Value Creation in Global Site Projects

bp and Worley Forge Strategic Alliance to Drive Efficiency and Value Creation in Global Site Projects

(IN BRIEF) bp and Worley have announced a new strategic alliance aimed at enhancing efficiency, continuous improvement, and value creation within bp’s global Site Projects organization. This collaboration, building upon a decade-long successful partnership between the two companies, seeks to optimize capital efficiency in site projects, with an initial estimated savings of US$40 million over two years in regions where Worley holds services contracts, including the Gulf of Mexico, Oman, Mauritania, Senegal oil and gas producing regions, and various refineries. Notably, this marks the first alliance formed with the operations business in bp. Niall Maguire, bp’s VP of site projects, emphasizes the focus on safety, emissions reduction, high-value activities, and cost reduction, stating that the alliance will increase operational effectiveness through centralization, standardization, and simplification. Leveraging digital capabilities and global scale, bp and Worley aim to deepen collaboration across a portfolio of site projects to drive efficiency across engineering, procurement, construction development, and management. This alliance, formalizing a longstanding relationship based on shared objectives and trust, underscores both companies’ commitment to excellence and their ability to navigate a tight resource market while delivering sustainable change throughout bp’s project portfolio. Mark Brantley, Group President EMEA and APAC at Worley, highlights the alliance’s roots in the Site Projects Efficiency Plan (SPEP), which successfully drove down costs across bp’s global operations over the past two years, underscoring the shared history and values that position both entities to identify and implement solutions for value creation and sustainable change across bp’s projects. Earlier this year, Worley signed a five-year global framework agreement to provide engineering, procurement, and construction management services covering bp’s global refinery assets and ventures into new energy initiatives, further solidifying the partnership between the two entities.

(PRESS RELEASE) LONDON, 10-Jun-2024 — /EuropaWire/ — In a move geared towards optimizing efficiency and value creation within bp’s global Site Projects organization, bp and Worley have joined forces in a new strategic alliance. This collaboration marks an evolution of their successful partnership spanning over a decade.

The primary objective of the alliance is to enhance capital efficiency in site projects, with an initial estimated saving of US$40 million over two years in key locations where Worley holds service contracts. These locations include the Gulf of Mexico, Oman, Mauritania, and Senegal oil and gas producing regions, as well as the Cherry Point, Whiting, Rotterdam, Gelsenkirchen, and Lingen refineries.

Notably, this alliance signifies the first-time collaboration between bp’s operations business and an external partner, underlining a strategic shift in operational strategy.

Niall Maguire, bp’s VP of Site Projects, emphasized, “We remain focused on improving safety, reducing emissions, high-value activity, and reducing cost. This alliance increases our operational effectiveness through centralization, standardization, and simplification, helping us safely grow the value of bp.”

Leveraging digital capabilities and global scale, bp and Worley aim to deepen collaboration across a portfolio of site projects. This collaboration extends to engineering, procurement, construction development, and management, with the overarching goal of driving efficiency throughout the project lifecycle.

Maguire reiterated, “This alliance increases our operational effectiveness through centralization, standardization, and simplification, helping us safely grow the value of bp.”

The alliance formalizes a longstanding relationship built on shared objectives, trust, and a commitment to excellence. By pooling their technical expertise, both companies aim to navigate the challenges of a tight resource market effectively.

Mark Brantley, Group President EMEA and APAC at Worley, remarked, “This alliance builds on our successful partnership in the Site Projects Efficiency Plan (SPEP) over the past two years where we’ve worked together to drive down costs across bp’s global operations. Our shared history and values position us well to identify and implement solutions as we continue to create value and deliver sustainable change throughout bp’s portfolio of projects.”

Earlier this year, Worley inked a five-year global framework agreement to provide engineering, procurement, and construction management (EPCM) services covering bp’s global refinery assets and ventures into new energy initiatives. Worley also holds EPC contracts across bp’s legacy upstream businesses.

About bp

bp is an international company that delivers energy products and services to our customers around the world. bp continues to invest in oil and gas to keep energy flowing to where and when it’s needed today. And, not or, to invest in our lower carbon and other transition businesses – bioenergy, EV charging, renewables & power, convenience and hydrogen – to help accelerate our transition and the energy transition.

About Worley

Worley is a global professional services company of energy, chemicals and resources experts. We partner with customers to deliver projects and create value over the life of their assets. We’re bridging two worlds, moving towards more sustainable energy sources, while helping to provide the energy, chemicals and resources needed now. Worley Limited is headquartered in Australia and listed on the Australian Securities Exchange (ASX: WOR).

Media Contact:

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+44 20 7496 4076
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SOURCE: Lightsource bp