BP

Analytics, sensors, and robots are changing the way one of the world’s largest oil and gas companies does business. Underpinning all the new technology though is a shift in how BP thinks, and what it means to be a supermajor in the 21st century.

Digitalization and new technologies are disrupting old practices and shaping a new safety landscape for the oil and gas industry. At OTC, a panel sponsored by the Center for Offshore Safety looked at the effects of some of these new technology trends.

BP and partners have sanctioned the Azeri Central East project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli oilfield complex in the Azerbaijan sector of the Caspian Sea.

The oil and gas major has set aside $100 million to fund projects that will deliver new greenhouse gas emissions reductions in its upstream oil and gas operations.

The major’s dominant showing in US Gulf of Mexico Lease Sale 252 propelled another rise in bids and dollars for the biannual regionwide auction.

The energy transition is underway, and the push to reduce carbon emissions will be at the forefront of industry discussion in the coming years. What role will oil and gas play in the changing landscape? How diversified can our fuel mix be while still meeting growing energy demand?

The vessel will produce approximately 2.5 mtpa of LNG for the project, which is expected to deliver first gas in 2022.

Current production from the phase is 400 MMcf/D and expected to peak at 700 MMcf/D. A third phase also is slated to come on stream this year.

One of last year’s big stories in the industry was consolidation among several of the larger upstream operators. But deal activity has fallen off in recent months. Will things remain this quiet during the somewhat uncertain year ahead?

BP Ventures has invested $5 million in Belmont Technology’s Series A financing to further bolster BP’s artificial intelligence and digital capabilities in its upstream business.