APA Corporation Expands Partnership with Palantir To Leverage AI Technology Across Their Oil and Gas Operations
Palantir Technologies Inc. (NYSE: PLTR), a leading builder of artificial intelligence systems, and APA Corporation (NASDAQ: APA), a leading oil and gas company, today announced a multi-year, multi-million-dollar extension to their enterprise agreement originally signed in 2021. The agreement builds on the work deployed across APA’s global portfolio over the past three years and introduces new artificial intelligence capabilities with Palantir’s Artificial Intelligence Platform (AIP) software.
Over the past three years, Palantir has partnered with APA to deploy the software across use-cases as varied as operational planning, supply chain management, maintenance planning, production optimization, and contract management. Palantir’s AIP software has enabled APA to move quickly against opportunities across their portfolio, including newly acquired assets. Palantir has helped APA improve production equipment reliability via real-time monitoring, optimize raw material logistics, and leverage AIP across contract and invoice documents to detect anomalies against source systems.
Matt Babin, Palantir’s Head of Energy and Natural Resources, said:
We founded Palantir to help tackle the world’s most important challenges. We’re honored to extend our partnership with APA as they continue to play a key role responsibly producing oil and natural gas.
Travis Osborne, APA’s Vice President, Chief Information Officer, said:
“We look forward to expanding our partnership with Palantir,”
“Our existing partnership has enabled improved operational efficiency and business visibility across our global portfolio. We are excited to expand the use of Palantir AI capabilities to build on this foundation and accelerate performance and cost management even further.”
Together, Palantir and APA will continue to forward the mission of contributing to human progress by responsibly producing oil and natural gas.
APA Corporation Expands Partnership with Palantir To Leverage AI Technology Across Their Oil and Gas Operations, source.
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