Infosys wins $1.5 billion deal from BP

BENGALURU: Infosys has won a deal from global energy company BP (formerly British Petroleum) that is estimated at about $1.5 billion. Infosys will be BP's primary application services partner.

The deal is spread over five years. Infosys and BP did not comment on the value and the tenure of the deal. The two have had a two-decade relationship, during which the annual contract value was over $100 million.

Infosys co-founder and chairman Nandan Nilekani and Leigh-Ann Russell, EVP, innovation & engineering in BP, signed the MoU on May 10.

The deal is Infosys's biggest since the estimated $3.2 billion contract it won from German automotive major Daimler three years ago. Infosys counts Aramco, Chevron, ConocoPhillips, ExxonMobil, and Shell among other key customers in the energy and utilities space.

For BP, Infosys will provide development, modernisation, management, and maintenance services.
BP’s Russell said, “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, said, “This is a strategic milestone in our long-standing relationship with BP. As we see global momentum in 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.”

Last year, Infosys and BP signed an MoU to develop energy as-a-service (EaaS) offering that will provide end-to-end management of a customers' energy assets and services. It launched a pilot at Infosys's Pune campus. The companies plan to extend it to other Infosys campuses and explore opportunities to manage energy and reduce emissions at industrial and business parks as well as cities.

Ready to Master Stock Valuation? ET’s Workshop is just around the corner!