Demerged Wipro bets big on energy vertical

Software services major Wipro, which recently hived off its non-IT business into a separate entity, is betting big on the energy vertical as more companies turn to technology-centric methods for exploration and production of natural resources. Recent studies suggest that oil and gas industry is expected to grow at about 2 per cent annually for the next 20 years, Wipro Infotech Vice President and Head Client Relationship Group Anurag Mehrotra said.

With increasing difficulty in accessing resources, domain focused on 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. The Energy, Natural Resources and Utilities business contributed 15.1 per cent of Wipro's IT services business revenue for the quarter ending 30 Sept 2012. A part of Wipro's IT business, Wipro Infotech manufactures computer hardware and provides IT services for India and the Middle East region. Wipro serves two of the world's five oil majors and has strategic engagements for six of the top 10 oil & gas companies.