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Infosys wins $1.5 billion deal from BP

By Nagasunder in Business News, posted May 17, 2023

Infosys has secured a $1.5 billion deal with BP, making it the energy company's primary application services partner for a period of five years.

This agreement marks a significant milestone in the two-decade-long partnership between Infosys and BP, which previously had an annual contract value exceeding $100 million.

The deal was formalized through a memorandum of understanding (MoU) signed by Infosys co-founder and chairman Nandan Nilekani and Leigh-Ann Russell, EVP of innovation and engineering at BP, on May 10.

The contract is Infosys's largest since winning a $3.2 billion deal from German automotive major Daimler three years ago.

Infosys serves several prominent energy and utilities clients, including Aramco, Chevron, ConocoPhillips, ExxonMobil, and Shell.

Under the agreement, Infosys will provide BP development, modernization, management, and maintenance services.

Both companies aim to accelerate BP's digital transformation, drive tech-enabled operations, and deliver innovative solutions to meet customer needs and foster future growth.

Ms, Russell told TimesofIndia “We are delighted to further develop our relationship with Infosys to help accelerate our digital transformation and scale growth through tech-enabled operations. Together, we look forward to delivering innovative solutions that meet the evolving needs of our customers and drive growth for the future."

Salil Parekh, CEO & MD, Infosys, added: “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 maximise operational efficiency is a key business imperative. We are now jointly working towards enhancing digital maturity, productivity, and driving innovation for BP.”

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Infosys and BP collaborated last year to develop an energy-as-a-service (EaaS) offering, enabling end-to-end management of customer's energy assets and services.

The initiative commenced with a pilot program at Infosys's Pune campus and is set to expand to other Infosys campuses.

The companies also plan to explore opportunities for managing energy and reducing emissions in industrial and business parks as well as cities.

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