BP Ventures has invested $5 million in Satelytics, a cloud-based geospatial analytics software company that uses advanced spectral imagery and machine learning to monitor environmental changes, including methane emissions, the company said on June 23.
Satelytics collects high-resolution spectral imagery from the planet’s surface using satellites, drones, and planes. Its technology combines these images with proprietary algorithms to create unique electromagnetic signatures that can be used to detect environmental changes, including releases or leaks. Its software visualizes these data sets on interactive displays that give end-users a clear and actionable picture of operations, and alert them to facility risks, like methane leaks.

BP’s $5 million investment will enable Satelytics to develop its technology further and scale its applications throughout the oil and gas sector. Use of the technology has the potential to be part of BP’s aim to install methane measurement at all major oil and gas processing sites by 2023, publish the data and then drive a 50% reduction in methane intensity of its operations.
“Satelytics is modernizing the energy sector by making data about physical assets more accessible and digestible, leading to better decision making. We are excited to work closely alongside their unique team of scientists and technologists to help them evolve their technology and to continue to move the needle on industry digitalization,” Morag Watson, BP senior vice president of digital science and engineering, said.
Through its venturing business, BP is making strategic investments in innovative, game-changing technologies and businesses that can help it reimagine the global energy system.
“Earlier this year we announced our ambition to become a net zero company by 2050 or sooner, and to help the world get to net zero. As part of our ambition, one of our 10 aims relates to methane measurement at all of our major oil and gas processing sites by 2023 and reducing methane intensity of our operations by 50%. Advanced technologies such as Satelytics, integrating multiple approaches to efficiently detect emissions, have the potential to be a valuable tool that can support this work,” David Hayes, BP ventures managing director for the Americas and COO, said.
Recommended Reading
Wanted: More US Natural Gas
2022-06-30 - Will the U.S. have enough natural gas come winter? Executive Editor-at-large Nissa Darbonne explores in her monthly column featured in Oil and Gas Investor.
Market Watchers: The Narrative Shifts; The Industry Responds
2022-06-24 - We entered 2022 with the view that E&P spending would grow in the mid-teens year-over-year. This is now likely closer to 20%, according to James West, senior managing director at Evercore, in a market outlook exclusive to Oil and Gas Investor.
Morgan Stanley’s Shareholders Vote Against Proposal on Fossil Fuels
2022-05-26 - Morgan Stanley’s directors said in a document released in April that if the bank ceased funding fossil fuel projects, other players would still provide it.
Facing Record Inflation, Biden Takes Aims at Exxon Mobil, Other Oil Companies
2022-06-10 - “Exxon made more money than God this year,” Biden said in a speech to dockworkers and union representatives at the Port of Los Angeles. U.S. oil companies are not using profits to drill more but to buy back stock, he added.
US Energy Dept Eyes $165 Million Investment in Geothermal, Oil and Gas Group
2022-07-29 - The U.S. Department of Energy is planning on providing a a total of $165 million to develop the Geothermal Energy from Oil and Gas Demonstrated Engineering initiative, which will focus on researching and studying issues in the geothermal sector.