L&T IT arm to digitise Exxon\'s exploration content
Tuesday, 10 April 2018, 18:10 IST
Larson & Toubro (L&T) IT services arm said it has bagged a multi-million dollar digitization deal from Exxon Mobil exploration firm.
"The value of the deal signed with Exxon is $20 million (Rs 130 crore) for the first year of the contract," said the city-based L&T Technology Services Ltd in a statement here.
The engineering R&D services firm's geospatial and digital expertise will convert Exxon's historical geoscience content into digital domain by leveraging automation utilities.
"Digitisation will provide Exxon geo-scientists improved data, and enhance the speed and efficiency of analysis and evaluation," noted the statement.
The IT arm will rope in the services of the group's other IT subsidiary -- L&T Infotech -- in serving the American multinational oil and gas corporation.
"The deal re-affirms our investment strategy for flagship customers and ensures our position as a leading partner among top engineering R&D service providers by capitalizing on the changing digital shifts in the oil and gas industry," said the statement.
Commenting on the deal, company's Chief Executive Keshab Panda said combining its hydrocarbon heritage, geospatial domain understanding, and digital engineering expertise would help Exxon in the deal project.
"Our solutions will provide geoscientists insights into their subsurface data, which will maximize asset utilization, minimize data preparation time and reduce the total cost of ownership," Panda said in the statement.
With worldwide customer base, including 52 Fortune 500 firms and 48 top ER&D companies, the Indian multinational's IT subsidiary has 12,000 techies at 15 global delivery centers, eight global sales offices, and 39 innovation labs.
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