Tata collaborates with Malaysia’s PETRONAS on downstream oil segment digitalisation project
Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization based in India, and Petroliam Nasional Berhad (PETRONAS), Malaysia’s state-owned integrated oil and gas company, announced their collaboration in an oil and gas downstream data platform dubbed Project DOVE (Drive Optimisation Value for Enterprise).
The DOVE platform, co-designed by TCS, endeavors to elevate data transparency, increase personal accountability and promote enterprise collaboration through advancing digital competencies and tools within PETRONAS by tapping into information from its downstream operating companies, as well as updated competitor and market information, creating a data pool for real-time intelligence. The platform is supported by advanced analytical models and tools, such as retail and commercial demand forecasting, vessel scheduling optimisation and product pricing recommendations that enable optimised decision-making.
The resulting digitally empowered workforce and end-to-end visibility of the entire value chain has enhanced PETRONAS’ ability to respond swiftly and more effectively to meet customer demands and expectations.
“At PETRONAS, digital strategy has now become the blueprint of our business strategy and has accelerated new ways of working. Through DOVE, we are able to unlock new value for downstream by venturing into other segments of the value chain, driving focus towards untapped opportunities for the business. Digital, coupled with innovation, has become key to driving business and delivering value to the company and our customers,” said Datuk Md Arif Mahmood, EVP & CEO, Downstream, PETRONAS.
“We are pleased that PETRONAS has chosen to partner with us to transform their operations to better serve their customers,” said Girish Ramachandran, president, TCS Asia Pacific. “With our contextual and industry knowledge of the oil and gas industry combined with our intellectual property and innovation efforts, we help enterprises better compete, operate, and grow in today’s dynamic business environment.”
Moving forward, DOVE will continue to elevate the impact of its digital transformation efforts across the wider enterprise through integration with similar initiatives across the organization, thereby achieving a more sustainable transformation.