IT major Infosys said on Tuesday that it had inked a deal to become UK-based energy giant BP’s primary partner for end-to-end application services.
What Happened? The two firms signed a memorandum of understanding that will see Infosys provide services, including development, modernization, management, and maintenance, to the oil and gas company.
“We are now jointly working towards enhancing digital maturity, productivity, and driving innovation for bp,” said Salil Parekh, CEO and managing director of Infosys in a statement. “Together, we will leverage the power of digital technologies and advancements in AI to deliver solutions that will help to transform bp's operational landscape and drive business growth."
See Also: IOCL Shares Surge After Strong Q4 Numbers
The companies said they will also continue to explore more avenues for bp to advance sustainability, Diversity, equity, inclusion, and other social impact initiatives.
The two companies have had a long-standing relationship with each other for over a decade, with the Indian IT firm already providing services across BP's operations, including corporate functions, upstream and downstream segments, energy trading, and marketing.
Read Next: Tata Motors Shares Continue Bull Run: Why This Analyst Advises Caution
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.