BP: investment by BP Ventures
(CercleFinance.com) - BP has announced making a 5 million dollar investment by BP Ventures in the funding of Belmont Technology, a startup from Houston that has developed a cloud-based geoscience platform using artificial intelligence.
"The investment supports BP's ongoing work exploring opportunities to apply machine learning and cognitive computing in its global oil and gas business," BP said.
"Aimed at accelerating project lifecycles, from exploration through to reservoir modelling, the technology is targeting a 90% time reduction in data collection, interpretation and simulation," it added.
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"The investment supports BP's ongoing work exploring opportunities to apply machine learning and cognitive computing in its global oil and gas business," BP said.
"Aimed at accelerating project lifecycles, from exploration through to reservoir modelling, the technology is targeting a 90% time reduction in data collection, interpretation and simulation," it added.
Copyright (c) 2019 CercleFinance.com. All rights reserved.