BP is investing in digital technology to increase efficiency.
Ahmed Hashmi, head of technology for BP’s exploration and production department said: “The vision is to have absolute knowledge of what’s going on in the field, increasingly, we can improve reliability and safety by predicting what is going to happen before something goes wrong.”
To facilitate this the company is aiming to increase its data storage capacity by 1 petabyte – to a total of 6 petabytes.
Hashmi says that BP is ahead of their competitors on digital technology after spending “several hundred million dollars” on sensing devices and 2,000km of fibreoptic cable carrying 5m data points every minute.
Mr Hashmi contends that investment in technology had saved BP $7 billion per year since 2014.
“We’re putting data at the fingertips of our engineers and scientists,” he said. “We are allowing them to spend more time doing high-value work rather than putting Excel spreadsheets together. We see a symbiotic relationship between machines and humans where artificial intelligence optimises the choices for people to make.”