S-OIL Corporation (S-OIL), the third largest oil company in South Korea, hopes to yield significant savings through its IT outsourcing agreement with IBM. As a result of the contract S-OIL will reduce its investment in IT infrastructure and in-house maintenance services.

The agreement will see IBM supporting S-OIL in the key business areas including application operation and management, server, storage and network operation services, user support services, and disaster recovery services.

No financial details were released.