Tuesday, March 31, 2009

New times require new solutions for contractors in the oil & gas industry

IFS has taken seriously the challenges faced by engineering, procurement, construction and Installation (EPCI) contractors and launched the EPCI Toolkit, a standardized, agile tool that enables complete control of projects regardless of their size. Most contractors are unable to achieve this with their current business software. The can easily be integrated with all types of enterprise applications

The EPCI Toolkit provides system support for all the operational processes in an EPCI project, including project management, engineering, material management and job setting. The tool comes with a modern, web-based user interface with flexible solutions for information exchange based on a variety of standards.

Although most contractors today either have fragmented IT solutions, home-grown solutions or standard enterprise applications, many of them lack support for operational EPCI processes. At the same time, the industry is under pressure because the number of major projects is falling. Many enterprises have adapted their business applications to mega-projects, but are now faced with changing their procedures and methods to support modification assignments and smaller projects.

The industry is, however, experiencing new opportunities in the form of international projects now that activity has decreased on the Norwegian shelf. But for new operators, it is essential to be agile enough to adopt new standards and methods in order to handle global projects safely and efficiently. IFS, which has long provided IT support based on NORSOK standards, will include ISO 15926 in its portfolio of standards supported by the EPCI Toolkit.

Furthermore, because environmental requirements are also high on the industry’s agenda, IFS has developed Eco-footprint Management, a completely integrated tool that identifies, analyzes, and documents an enterprise’s environmental impact, the measures taken to reduce environmental impacts, and the results achieved. It complements the EPCI Toolkit for enterprises with their own fabrication.

“The market has given our agile engineering register a fantastic reception. In one and the same system, it is possible to set the status of a project across disciplines and see how changes in one discipline are registered in the others. Now that we have also included project management, document management, and support for fabrication, installation and go live, we can offer a strong EPCI Toolkit for large EPCI contractors who want a new, modern enterprise solution without abandoning their legacy solutions for financials and human resource management. Parts of the solution can also be used by contractors who want to improve the way they manage major modification contracts,” said Carl-Magnus Adamsson, Director, Oil & Gas, for IFS Scandinavia.

“We have invested heavily in developing a solution that is unique in terms of industry-specific, agile support for EPCI projects. Indications from the oil & gas enterprises that want to include all or part of our solution in their existing enterprise applications suite show that our competitors cannot deliver in this respect. Whatever the case, it is easy to integrate the EPCI Toolkit because IFS Applications is built on open, service-oriented architecture,” Adamsson said.

IFS strategically targets suppliers to the oil & gas industry and has delivered solutions to the sector for many years. IFS offers a complete, integrated industry-specific solution that manages the entire project lifecycle from engineering, project management, procurement, material management and fabrication to installation and after sales. Customers include Grenland Group, Babcock Engineering services, Heerema Fabrication Group, Dresser-Rand, Yantai Raffles, STX Norway Offshore, SeaDrill, Seawell, NCA, Hertel, Bergen Group Rosenberg,  Hamworthy Gas Systems, RR Offshore, Rotary Engineering, Harland & Wolff, ShawCor and Shedden Uhde.

About IFS

IFS is a public company (OMX STO: IFS) founded in 1983 that develops, supplies, and implements IFS Applications™, a fully-integrated, component-based extended ERP suite built on SOA technology. The company has more than 2,000 customers in 54 countries and focuses on seven main industries: aerospace & defense, utilities & telecom, manufacturing, process industries, automotive, retail & wholesale distribution, and construction contracting & service management. IFS has 2,600 employees and net revenue in 2007 was SKr 2.4 billion.

Contact Information

Vice President Corporate Communications Oliver Pilgerstorfer

Phone: +44 1494 428900

Contact Oliver Pilgerstorfer

Vice President, Corporate Communications Oliver Pilgerstorfer

Phone: 44 1494 428900

Contact Oliver Pilgerstorfer