Aker BP and Framo have entered into a long-term contract for seawater lift pumps where compensation is directly linked to facility uptime. This is an important step in the modernization of the Norwegian shelf.
The new smart contract has a duration of six years, with an option for an additional six years. This is a continuation of the pilot contract signed by Aker BP, pump supplier Framo and technology company Cognite.
This marks a milestone as Aker BP and pump supplier Framo are now taking the digital pilot work a step further to a long-term collaboration through Aker BP’s smart contract concept. Smart contracts are performance-based model agreements, where compensation is determined by the systems’ reliability and performance.
This became the start of an entirely new collaboration where Aker BP, Framo and Cognite have worked together in a joint project team.
Digital boards have now been developed based on sensor data from Cognite Data Fusion (CDF) and algorithms from Framo.