Palantir Technologies Inc. and BP are entering into a five-year contract to introduce new AI capabilities into BP’s operations with Palantir’s AIP software, the companies announced Sep. 9.
Palantir’s AIP software will use automated data analysis to assist BP in harnessing large language models (LLMs) to provide suggested courses of action to improve human decisions.
The underlying data infrastructure and digital twin are combined with tools to ensure transparency in AI recommendations, safeguarding it against hallucinations, the companies said in their press release.
Security features will control the LLMs’ capabilities and include fully auditable digital records of any decisions or actions taken.
BP has worked with Palantir since 2014, using real-time data from Palantir’s two million sensors to create a model-based digital twin of BP’s oil and gas production activity for performance improvements.
Recommended Reading
E&P Highlights: Sept. 9, 2024
2024-09-09 - Here’s a roundup of the latest E&P headlines, with Talos Energy announcing a new discovery and Trillion Energy achieving gas production from a revitalized field.
US Oil Firms Evacuate Staff, Cut Drilling Ahead of Storm Francine
2024-09-09 - Francine is moving toward U.S. Gulf of Mexico waters and predicted to become the fourth hurricane of the Atlantic season.
Beth McDonald Appointed SM Energy COO
2024-09-09 - Beth McDonald joins SM Energy as its new executive vice president and COO, bringing with her about 20 years of experience as an executive at Pioneer Natural Resources.
Court Petitioned to Intervene in Calcasieu Pass 2 LNG Project
2024-09-09 - The D.C. Circuit is to consider the case for Venture Global's Calcasieu Pass 2 LNG facility in Louisiana.
Adionics Unveils Lithium Extraction Technology For Recycled Batteries
2024-09-09 - The Paris-based company said its liquid-liquid process achieved lithium recoveries of up to 98% across a range of brine concentrations.