Thiruvananthapuram, Apr 10 (IANS): Technopark headquartered IBS has entered into a multi-million dollar, 10-year contract with Chevron for implementing its 'Ilogistics solution suite' in the company's 29 countries in five continents.

Headquartered in California, Chevron is one of the world's leading integrated energy companies and is ranked the third largest corporation in America with revenues in excess of $240 billion.

"This is a defining moment for IBS with Ilogistics now firmly heading to become the de facto industry standard for the upstream logistics management solution," said Ramesh D Nair, vice president and Head of Oil and Gas logistics at IBS.

This wide adoption comes close on the heels of the successful cut over of IBS solution at the oil major's installations at Angola, Thailand and Nigeria.

Upstream oil and gas logistic chain is a very labour intensive operation, where even a brief disruption in the logistic chain could mean not only significant lost revenue in downtime but also jeopardizing the safety of people.

'Ilogistics solution' will calibrate the movement of these resources over land, air and water as well as manage the safety and security of personnel on board.

The implementation will enable Chevron to standardize processes and operations worldwide, while retaining the ability for localization, and ensure health, safety, security and environment compliances.

IBS is a leading global provider of new generation IT solutions to the travel, transportation and logistics industries operates from 10 business centres in the USA, Europe, Asia-Pacific and Middle East and Africa.