November 21, 2024 [Tank Storage]- Palantir Technologies and BP have announced an enterprise agreement, introducing new artificial intelligence capabilities with Palantir’s AIP software. The new contract will build on a decade of collaboration between Palantir and BP to support the latter’s oil and gas production operations and digital transformation programme.

Central to BP’s digital transformation programme has been the development of a model-based digital twin of its oil and gas production activity, enabling performance improvements. Palantir has integrated real-time data from over 2 million sensors with dynamic digital-physical asset models to provide a single integrated operating picture.

Palantir’s AIP software will assist BP to safely and reliably harness large language models (LLMs) to improve and accelerate human decision-making with suggested courses of action based on automated analysis of the underlying data.

Palantir’s software uses a robust data infrastructure, designed to enable safe and reliable AI deployment and guard against hallucinations. Meanwhile, security features control what LLMs can and cannot do together with fully auditable digital records of any decisions or actions taken.

Matthew Babin, head of energy and natural resources at Palantir says: ‘going forward, our objectives together remain the same: further enhancing the efficiency of BP’s operations while increasing data integration. Now, AIP offers the opportunity to help accelerate human decision-making on top of the robust digital twin and deep operational workflows already in place.’

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