BP is set to accelerate its engineering decision-making through a new five-year agreement with US technology firm Palantir. The deal, announced today, will see BP leverage Palantir’s expertise in artificial intelligence (AI) to enhance data analysis and operational efficiency.
The partnership will focus on utilizing large language models to automatically analyze data from BP’s various oil and gas sites. This AI-driven approach is designed to provide actionable insights and support human decision-making, thereby optimizing the company’s operations.
This agreement builds on a decade-long collaboration between BP and Palantir, during which the technology company’s solutions have been instrumental in creating digital twins of BP’s operations. Notable applications include the Khazzan gasfields in Oman and offshore oil platforms in the North Sea and the Gulf of Mexico, including the site of the 2010 Deepwater Horizon disaster.
The companies have highlighted that the new AI software will be developed with a focus on “safe and reliable AI deployment,” addressing concerns about the potential for AI models to produce inaccurate or misleading information, a phenomenon known as “hallucination.”
Sunjay Pandey, BP’s Senior Vice-President for Digital Delivery, emphasized the benefits of advanced digital twin simulations in monitoring and optimizing production processes. “The use of advanced digital twin simulations helps us to safely monitor and optimize various aspects of the production process to enhance operational performance. We look forward to building on the progress we have made over the years,” Pandey stated.
Matthew Babin of Palantir noted that their technology offers significant potential for accelerating human decision-making. “Our technology provides the opportunity to help accelerate human decision-making on top of the robust digital twin and deep operational workflows already in place,” Babin said.
Palantir’s recent activities include a high-profile contract with the NHS to develop a comprehensive data platform, a move that has raised privacy concerns. The company, led by billionaire founder Peter Thiel, has a history of close ties with intelligence agencies and military organizations, including the CIA and the UK’s Ministry of Defence.
Under CEO Murray Auchincloss, BP is also strengthening its technological capabilities through other high-profile collaborations. Last month, the company secured a deal with NASA to share technology and expertise from working in challenging environments. In 2019, BP invested $5 million in Belmont Technology to advance its AI platform, known as Sandy.
As BP continues to integrate cutting-edge technologies, this latest partnership with Palantir marks a significant step forward in the company’s ongoing efforts to enhance operational efficiency and decision-making processes in the oil and gas industry.
