BP’s $5 million investment will enable Satelytics to develop its technology further and scale its applications throughout the oil and gas sector. Use of the technology has the potential to be part of BP’s aim to install methane measurement at all major oil and gas processing sites by 2023, publish the data and then drive a 50% reduction in methane intensity of its operations.
“Satelytics is modernizing the energy sector by making data about physical assets more accessible and digestible, leading to better decision making. We are excited to work closely alongside their unique team of scientists and technologists to help them evolve their technology and to continue to move the needle on industry digitalization,” Morag Watson, BP senior vice president of digital science and engineering, said.
“Earlier this year we announced our ambition to become a net zero company by 2050 or sooner, and to help the world get to net zero. As part of our ambition, 1 of our 10 aims relates to methane measurement at all of our major oil and gas processing sites by 2023 and reducing methane intensity of our operations by 50%. Advanced technologies such as Satelytics, integrating multiple approaches to efficiently detect emissions, have the potential to be a valuable tool that can support this work,” David Hayes, BP ventures managing director for the Americas and COO, said.
