Wipro, one of the leading IT major companies in India is looking to concentrate on the energy sector in a bid to explore natural resources. The company had recently hived off its non-IT business into a separate entity and is looking at the energy vertical, like many companies.
Reports have suggested that oil and gas industry is expected to grow at about 2 per cent annually for the next 20 years, said Anurag Mehrotra, vice president and head client relationship group, Wipro Infotech. With increasing difficulty in accessing resources, domain focused technology centric and economical solutions will be in demand, he said.
“This provides a great opportunity for service providers like us having both the domain expertise as well experience of being at the sweet spot where technology meets business. And we are prepared to tap into this opportunity,” Mehrotra added.
Even though, Wipro’s energy, natural resources and utilities business contributed around 15.1 per cent to its IT business revenue but the company is looking at the overall potential of the sector and is excited about the future.
“Globally, we are seeing renewed efforts in exploration and production (E&P), both in finding new oilfields as well as extracting more from existing oilfields,” Mehrotra said. A part of Wipro’s IT business, Wipro Infotech manufactures computer hardware and provides IT services for India and the Middle East region.
The Oil and gas segment is a large segment of this vertical. Wipro serves two of the world’s five oil super majors and has strategic engagements for six of the top 10 oil and gas companies.
The Oil and gas business at Wipro provides high end business consulting coupled with IT services and capabilities — managing IT to solve business problems aligned to strategies of clients.