LONDON – BP Ventures has invested $5 million in cloud-based geospatial analytics software company Satelytics.
The Toledo, Ohio-based company collects high-resolution spectral imagery from the planet’s surface using satellites, drones, and planes, combining these images with proprietary algorithms to create electromagnetic signatures: these can be used to detect environmental changes, including releases or leaks.
Satelytics’ software visualizes these data sets on interactive displays, giving users a clear picture of operations, and alerting them to risks to facilities such as methane leaks.
BP’s $5-million investment will allow the company to develop its technology further and scale its applications throughout the oil and gas industry.
BP aims to install methane measurement at all its main oil and gas processing sites by 2023, and use the data to help it achieve a 50% reduction in methane intensity of its operations.