BHP Billiton has implemented supercomputers to create 3-D seismic maps of its oil and gas assets, resulting in accelerated production timelines and significant cost savings. These advanced computing capabilities have reduced the development period for oil production in Trinidad and Tobago from seven years to just three, saving $500 million in project costs.
The supercomputers, located at a data center in Houston, help BHP pinpoint oil reserves more accurately, minimizing the need for extensive drilling and exploration. Diane Jurgens, BHP's Chief Technology Officer, highlighted that the technology has cut the time needed to bring the first oil to the surface, providing substantial financial benefits.
BHP is also exploring advanced technology applications for its Jansen potash project in Canada, described as a "technology wonderland." This includes the use of robot drills, drones, and innovative boring machines, along with potential replacements for traditional truck-based material transport. These technological advancements aim to lower operational costs, increase efficiency, and optimize production.
The broader mining industry, including competitors like Rio Tinto, is similarly leveraging technology to cut costs and improve efficiency. Rio Tinto has notably reduced haul and load costs in its iron ore division by 13% through its extensive use of autonomous trucks.