Infosys, a leading provider of IT services, has entered into an agreement with the global energy company bp to be the latter’s partner for end-to-end application services, including development, modernisation, management, and maintenance. The deal is valued at $1.5 billion, according to reports.
Both companies signed a memorandum of understanding (MoU) and said that the strategic engagement strengthens their long-standing relationship, which spans over two decades.
“We are delighted to further develop our relationship with Infosys to help accelerate our digital transformation and scale growth through tech-enabled operations. We look forward to delivering innovative solutions that meet the evolving needs of our customers and drive growth for the future,” said Leigh-Ann Russell, EVP, Innovation & Engineering, bp.
bp announced its ambition to be a net zero company by 2050 or sooner, and to help the world get to net zero, the companies will together focus on modernizing bp’s application landscape to enhance business resilience, drive value from operational efficiencies, and build more adaptive and agile processes to speed up innovation.
“This is a strategic milestone in our long-standing relationship with bp. As we see global momentum in the energy transition, building a strong digital core and scaling it to maximize operational efficiency is a key business imperative. Together, we will leverage the power of digital technologies and advancements in Al to deliver solutions that will help to transform op’s operational landscape and drive business growth,” said Salil Parekh, CEO and MD, Infosys.
The companies will continue to explore more avenues for bp to advance sustainability, DE&I, and other social impact initiatives.