“Oil and Gas is a Hi-Tech Industry,” say BP CEO
British Petroleum (BP), one of the largest oil and gas companies in the world believes technology has a great role to play in the oil and gas industry.
“We’ve got all kinds of efforts and data analytics for everything we do and putting sensors all through our equipment, allow people to even stay away from hazardous areas—it’s going to change our industry like the aircraft industry,” said Opens a New Window. Bob Dudley, CEO BP
The BP CEO said that while attending the World Economic Forum in Davos.
He further added that, “People think that oil and gas is not a high-tech business—it is.”
Currently, the British oil firm is making large technology breakthroughs in the Gulf of Mexico.
BP is increasingly using new technologies to improve the company’s production potential.
The company is able to see oil reservoirs using technology and as a result they were able to discover an additional billion barrels of oil reserves without doing any drilling.
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The BP CEO predicted a positive outlook with a 3% growth and stated that his company is planning to invest more in the United States of America.