Palantir Expands Presence in Industry Entering Multi-Year Partnership with Azule Energy

Rhea-AI Summary

Palantir Technologies Inc. (NYSE: PLTR) has entered a multi-year partnership with Azule Energy, a leading Angolan energy provider, to deploy Palantir Foundry software and optimize Azule Energy's upstream production. Foundry will help manage Azule Energy's current 200,000 barrels of daily oil production and support their growth goal of 250,000 barrels per day.

Angola's leading independent oil and gas producer will use Palantir Foundry across operations

DENVER, Aug. 9, 2023 /PRNewswire/ -- Palantir Technologies Inc. (NYSE: PLTR), and Azule Energy, a leading Angolan energy provider, have entered a multi-year partnership to deploy cutting edge software to optimize Azule Energy's upstream production. Palantir Foundry will help Azule Energy manage their current 200,000 barrels of daily oil production and support their growth goal of 250,000 barrels per day.

Palantir and Azule Energy will partner to deploy cutting edge software to optimize Azule Energy's upstream production

Azule Energy, a 50/50 independent joint venture owned by bp and Eni, has selected Palantir Foundry to digitize operations of their assets safely and efficiently. Foundry will be deployed in Azule Energy's upstream oil production business to support petroleum engineers, process engineers, flow assurance engineers, and more. Foundry will also assist in development of Azule Energy's upstream ontology, connecting their data, including real time sensor data, from wells, pipelines, compressors, and other equipment allowing safe and productive workflows.

"We are excited to work with Azule Energy and expand our presence in an industry we've worked and operated in for more than a decade," said Matt Babin, Global Head of Energy at Palantir. "Palantir Foundry will serve as the digital foundation for Azule Energy's upstream production business, helping them manage and grow their production safely and optimally."

Palantir has worked in the energy sector for more than a decade, helping customers from small operators to Fortune 500 companies meet challenges and capture opportunities throughout the value chain. Palantir's customers have harnessed the power of Foundry to deliver both immediate results and compounding value across a wide range of use cases, with seamless interoperability between massive datasets and mission-critical models.

About Palantir Technologies Inc.
Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com/offerings/energy/.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir's expectations regarding the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; and the reliability of our platforms or related third-party services and platforms. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

Media Contact
Lisa Gordon
media@palantir.com

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SOURCE PALANTIR TECHNOLOGIES INC.

FAQ

What is the partnership between Palantir and Azule Energy about?

The partnership aims to deploy Palantir Foundry software to optimize Azule Energy's upstream production.

What is Palantir Foundry?

Palantir Foundry is cutting edge software that will be used to digitize and optimize Azule Energy's operations.

Who owns Azule Energy?

Azule Energy is a 50/50 independent joint venture owned by bp and Eni.

What is the goal of Azule Energy's growth?

Azule Energy aims to increase their daily oil production from the current 200,000 barrels to 250,000 barrels per day.

How will Foundry be deployed in Azule Energy's business?

Foundry will be used to support petroleum engineers, process engineers, flow assurance engineers, and more in the upstream oil production business.

What data will Foundry connect in Azule Energy's business?

Foundry will connect real-time sensor data from wells, pipelines, compressors, and other equipment to enable safe and productive workflows.

What is Palantir's experience in the energy sector?

Palantir has worked in the energy sector for over a decade, helping customers from small operators to Fortune 500 companies.

What is the benefit of using Palantir Foundry?

Foundry delivers immediate results and compounding value across various use cases with seamless interoperability between massive datasets and mission-critical models.