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bp invests in Geospatial Analytics Company Satelytics

Gasoil News - Published on Sat, 27 Jun 2020

Image Source: bp Satelytics
bp ventures has invested USD 5 million in a cloud-based geospatial analytics software company Satelytics that uses advanced spectral imagery and machine learning to monitor environmental changes, including methane emissions. Satelytics collects high resolution spectral imagery from the planet’s surface using satellites, drones, and planes. Its technology combines these images with proprietary algorithms to create unique electromagnetic signatures that can be used to detect environmental changes, including releases or leaks. Its software visualises these data sets on interactive displays that give end-users a clear and actionable picture of operations, and alert them to facility risks, like methane leaks.

bp’s USD 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.

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Posted By : Yogender Pancholi on Sat, 27 Jun 2020
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