BP Ventures has invested $5 million in Artificial Intelligence and named it ‘Sandy’, aiming to improve its upstream digital capabilities. This investment, boosts the company’s continuous work on exploring opportunities to apply machine learning and cognitive computing in its global oil and gas business. It is directed at the Houston technology start-up Belmont Technology, a company that has developed a cloud-based geoscience platform using artificial intelligence (AI).
Specifically, the platform has some unique features as it includes specially-designed knowledge graphs.
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BP specialists provide the AI platform with geology, geophysics, reservoir and historic project information. Consequently, ‘Sandy’ combines the information and identifies new connections and workflows.
Similar to data searches, BP experts can ask the AI questions in natural language. The technology then uses AI neural networks to interpret results and perform rapid simulations.
The technology is aiming a 90% time decrease in data collection, interpretation and simulation.
According to David Eyton, BP’s group head of technology
… Sandy, is expected to unlock critical data for our subsurface engineers at a much accelerated pace.
Concluding, the AI investment follows BP’s deals in computing. The specific investment is helping deploy AI technology previously used in deep space exploration missions in offshore exploration, accelerating operational insight and process automation across operations.