New Delhi: State-run energy major Oil and Natural Gas Corporation Ltd. (ONGC) and the world’s largest business software company SAP AG’s Indian arm, SAP India signed a memorandum of understanding (MoU) on 29 August to share expertise and collaborate for training and consultancy assignments in India and globally.
A.K. Balyan, ONGC director (HR) and Bill McDermott, president and CEO for SAP America’s Asia Pacific and Japan region signed the deal. The Indian energy major has earlier implemented one of the largest IT projects for oil and gas operations using SAP solutions in a programme called Information Consolidation for Efficiency.
As per the deal, ONGC executives would assist SAP India for training and consultancy assignments to fill in the limited manpower of the business software company, which is gradually growing its network, an ONGC official said. He, however, did not mention the names of any clients for whom the alliance would provide such services.
The official also declined to give financial details of the deal, including revenue sharing, but said the budget would depend on each training session individually.
The latest deal is expected to add to the competence of ONGC executives by bringing them closer to best-in-class business practices in developing and managing business software for a wide variety of industries, ONGC said in a release.
ONGC chairman and managing director R.S. Sharma said such networking with global business partners not only enables executives to enrich their job contents, but also motivates them to deliver best-in-class performance in respective domains. McDermott expressed his happiness over the collaboration with the oil giant, and added that he looked forward to this relationship delivering significant business value to both organizations.