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June 2, 2020

BP to use Bluware deep learning tech for seismic data interpretation

UK-headquartered oil and gas major BP has signed an agreement with oil-field software firm Bluware to interpret large seismic data sets using the latter’s deep learning technology.

By Himaja Ganta

UK-headquartered oil and gas major BP has signed an agreement with oil-field software firm Bluware to interpret large seismic data sets using the latter’s deep learning technology.

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Bluware is a platform that helps the oil and gas industry to accelerate digital transformation initiatives using deep learning. The company says that its technology will help the oil and gas major to improve quality as well as speed when delivering seismic interpretation products.

Financial terms of the deal were not disclosed.

BP Upstream chief digital and technology officer Ahmed Hashmi said: “BP recognises 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.”

According to Bluware, large seismic data sets are difficult to move and use in workflows. The interpretation of these data sets is also time-consuming.

Powered by Bluware Volume Data Store (VDS) Cloud-native data environment, InteractivAI technology enables the acceleration of interpretation tasks.

Using this tool, geoscientists can interactively train and correct deep learning results, thereby, improving structural interpretation workflows in a significant manner.

Bluware CEO Dan Piette said: “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.”

Last month, BP announced it will invest $1.76m (A$2.7m) into an Australian scheme to study the practicalities of mass hydrogen production.

In the same month, Petrofac signed deals to provide BP with digitally enhanced maintenance and metering services.

Related Companies

Free Report
img

Determine the future strategies for IoT in Oil & Gas

he declining cost of IoT hardware makes digitalization an attractive option for energy companies. The oil and gas industry is becoming a more enthusiastic adopter of digital technology as it struggles to cope with several significant trends. These include fluctuating oil prices, expanding sources of supply, and increasing regulatory requirements.  GlobalData’s IoT in Oil & Gas Thematic Research report provides you with an in-depth lens into the impact of IoT on the industry. We highlight both the challenges and opportunities associated with the innovative technology now, and in the future. Our report also covers: 
  • Major players and companies 
  • Market size and growth forecasts 
  • Case studies  
  • Sector scorecard 
According to GlobalData forecasts, global Internet of Things (IoT) revenue in the energy sector will reach $59 billion by 2025, up from $34 billion in 2019. IoT use cases in the sector show how instrumental digitalization is to the O&G sector.   Ensure your company is proactive in adapting strategies and processes to help you remain competitive. Download the full report to get ahead of the competition.  
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Enter your details here to receive your free Report.

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