Original article was published on artificial intelligence
Houston oil field software firm Bluware has landed an artificial intelligence deal with British oil major BP.
Bluware announced Monday that the company entered into a new agreement with BP to improve improve the oil major’s ability to interpret seismic data from oil wells. Financial terms were not disclosed.
“BP recognizes the significant impact advances in digital technology can bring and we are pleased to implement Bluware InteractivAI, a new and innovative deep learning technology, augmenting our geoscientists’ ability to accelerate subsurface data interpretation,” said Ahmed Hashmi, Upstream Chief Digital and Technology Officer at BP.
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The deal comes at a time when the coronavirus pandemic has sent oil prices to record low but also foreced the oil and natural gas industry to accelerate the adoption of digital technology and automation.
With terabytes and pedabytes of data per well, seismic data is considered important to maximizing production from oil and natural gas wells but interpreting that data is time-consuming work. Artificial intelligence tools and deep-learning software cut that time.
“We are excited to be a part of BP’s digital innovation goals in delivering significant value and a better user experience across their subsurface workflows,” Bluware CEO Dan Piette said.