Aug 24: With the slowdown in IT sector, one of India's biggest IT companies is looking at entering the upstream oil and gas market.
8It has come out with a range of products, from well delivery management to real time drilling data services to integrated upstream solutions.
8It claims to provide global models for seismic, borehole and well production data management, enabling savings of up to 30%.
8It claims to deploy industry leading geosciences software suites.
8The point to note however is that India's IT giants do not have the capacity to deliver in a manner suitable for the E&P industry. There has to be a far deeper integration of their IT capabilities with the upstream industry, and that is not happening as of now. The products currently offered are too general in nature and it will be a long time before they can compete with established companies in the business.
8One company which has been able to make a successful foray in oil & gas software suits is L&T as it was able to marry its ONGC driven E&P experience with its IT infrastructure.
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