DCP Midstream (NYSE:DCP) and Apergy’s (NYSE:APY) subsidiary, Windrock, have agreed to jointly develop a first of its kind set of digital solutions that combines artificial intelligence (AI) and industry expertise to increase asset reliability, enhance safety, and improve efficiency.
As quoted in the press release:
Windrock’s AI predictive models, by leveraging its Spotlight™ smart-hardware edge technology, have proven the ability to anticipate changes in machine health weeks in advance. The goal of the joint development is to augment this technology with DCP’s process data and operational knowledge, and provide midstream operators with tools to optimize the balance between process efficiency, reliability cost, and machine health.
The development agreement is the result of a shared vision of innovation, and a focus on creating additional value to oil and gas operators. The joint development will not only be used to further DCP’s successful digital transformation journey, but technology outcomes will also be commercialized for the broader industry.