PRESS: BP Planning Big Data Push To Lower Costs – FT

PRESS: BP Planning Big Data Push To Lower Costs – FT

Oil giant BP PLC is planning a fivefold increase in its data capacity as part of a push to lower costs by focusing on ‘big data’, the Financial Times reported.

BP is aiming to raise its storage capacity from one petabyte to six, the report said, by 2020 as it integrates machine learning and artificial intelligence into its operations. A petabyte is a unit of information equal to one thousand million million bytes.

Currently more than 99% of oil and gas wells operated by BP around the world are equipped with sensors producing real time production data as well as on the condition of infrastructure.

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