Palantir, Bapco Energies Enter Strategic Partnership to Support Bahrain’s Energy Production
DENVER & MANAMA, Bahrain–(BUSINESS WIRE)–$PLTR–Palantir Technologies Inc. (NYSE: PLTR), a leading provider of AI systems to the energy sector, and Bapco Upstream, a 100% owned subsidiary of Bapco Energies, today announced a strategic, multi-year partnership to deploy Palantir’s software to support and help accelerate Bapco Upstream’s ability to power the next generation of energy in the Kingdom of Bahrain.
Palantir’s Foundry Platform and Artificial Intelligence Platform (AIP) will be deployed in a three-year agreement to help Bapco Upstream maximize its return on investment on energy production in the country and support its mission to connect the energy infrastructure of the Kingdom of Bahrain in an unprecedented way. Using data and artificial intelligence is a key part of the Kingdom of Bahrain’s strategy to deliver on its commitment to reducing carbon emissions, as pledged at COP26 by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, to reduce emissions by 30 percent through decarbonization and efficiency initiatives by 2035, and double the Kingdom’s deployment of renewables, to achieve Net-Zero by 2060.
“We are honored to be selected by Bapco Energies to bring our platforms and expertise in the sector to Bahrain, particularly as they pursue their ambition to provide secure energy and advance on the energy transition,” said Matt Babin, Global Head of Energy at Palantir.
Palantir has worked in the energy sector for more than a decade, helping customers from small operators to supermajors and national oil companies meet challenges and capture opportunities throughout the value chain, from production to distribution, to supporting the reduction of carbon emissions. Palantir’s newest platform, AIP, enables organizations to bring the power of large-language models, and other cutting-edge AI, to their enterprise networks, private data, and core operations – with maximum security and trust. The platform is designed to bring in siloed and disconnected data sources, logic assets, and systems of action into a single common operating picture, enabling users to optimize their decision-making.
“We are thrilled to announce our strategic partnership with Palantir. This collaboration marks a pivotal moment for Bapco Upstream as it aligns seamlessly with our commitment to innovation and business excellence,” said Johann Pleininger, CEO of Bapco Upstream. “We are poised to unlock new possibilities in our upstream operations by delivering value and driving efficiency throughout the organization.”
“Bapco Energies is positioning itself at the forefront of the AI revolution in energy production,” said Alex Karp, co-founder and chief executive officer of Palantir Technologies. “We are proud of this partnership, which will enable Bapco Upstream to boost output, improve efficiency, and meet Bahrain’s energy goals.”
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