Palantir and BP announce a 5-year strategic partnership
Palantir and BP have extended their decade-long collaboration with a new five-year agreement to enhance BP's oil and gas production operations with the safe deployment of large language models, to optimize performance and support decision-making across BP's global assets.
Data analytics company Palantir and oil and gas multinational BP recently confirmed they would enter into a new five-year agreement that will enable BP to leverage Palantir's expertise and software platform to introduce new AI capabilities into its workflows. Both companies have collaborated since 2014, with Palantir's software supporting BP's gas and oil production operations on locations including its offshore platforms in the North Sea and the Gulf of Mexico, and its oil fields in Oman.
The core of the decade-long collaboration has been the creation of a digital twin of BP's oil and gas production to extract insights leading to performance optimization. Digital models of BP's physical assets are enriched with real-time data extracted from over 2 million sensors to deliver a unified simulation of the company's operations through Palantir's software. The new partnership will build up BP's operations with further AI capabilities, specifically, it will enable BP to deploy LLMs safely and reliably using Palantir's software. The models will provide in-depth analyses of the data collected from the digital twin simulation and will deliver insights that will support human decision-making.
