BW Energy chooses IFS to drive global oilfield development

Rhea-AI Summary

IFS Applications has been selected by BW Energy to enhance its global oilfield development strategy. The software will drive efficiencies in asset management, supply chain, finance, and HCM. It aims to support BW Energy's carbon management as they develop new oilfields and maintain offshore assets effectively. Initially deployed in the US, Norway, Brazil, West Africa, and Singapore, the solution is geared towards low-carbon field developments, reducing costs, and adapting to regulatory changes, aligning with BW Energy's commitment to sustainability.

Positive

• IFS Applications will enhance operational efficiencies across various business functions.
• The software supports carbon emission management during new oilfield development.
• BW Energy can conduct proactive maintenance planning for offshore production assets.

Negative

• None.

IFS solution will help support the operator's growth strategy, deliver operational efficiencies, and limit emissions

LONDON, May 31, 2022 /PRNewswire/ -- IFS, the global cloud enterprise software company, today announced that  BW Energy, a global oil and gas Exploration and Production (E&P) company has selected IFS Applications enterprise resource planning (ERP) and enterprise asset management (EAM) software to support its global oilfield production and development strategy.

The implementation will allow BW Energy to drive global enterprise-wide efficiencies across multiple business functions, from asset management and supply chain to human capital management (HCM) and finance. In addition, the operator will use the software to replicate data between offshore units and onshore offices.

The IFS solution will also help BW Energy manage carbon emissions as it develops new oilfields and enhance the maintenance of its offshore production assets. The software will help BW Energy to plan, schedule and resource maintenance activities in advance, enabling the company to make changes quickly and easily.

Knut R. Sæthre, CFO, BW Energy, said: "We are focused on unlocking proven worldwide offshore oil and gas resources but utilising existing infrastructure that leads to lower development costs, faster project delivery and reduced carbon emissions. Supported by IFS technology, our strategy enables low-carbon field developments which support the ongoing transition."

"IFS' oil and gas industry expertise is reflected in the rich and critical functionality of the software. Its ability to support multiple business activities, together with the ERP and EAM capabilities, helps us to meet our multiple goals quickly and efficiently while giving us the agility we need to navigate a rapidly changing market and regulatory environment."

BW Energy is initially deploying IFS Applications across its US, Norway, Brazil, West Africa and Singapore  hubs, with more country sites to follow in the future.

Elni Kullmer, Regional President for North and Central Europe, IFS, said: "We look forward to working with BW Energy to ensure their strategic vision is realised over the coming years. IFS solutions are designed to offer fast growth companies like BW Energy an uncomplicated path towards becoming more data-driven and improving innovation. BW Energy is committed to developing oil and natural gas fields in a way that is efficient, low carbon and supports the energy transition, and we are proud to partner with them to help guide them on their journey."

About BW Energy:

BW Energy is a growth-focused oil and gas company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The company has access to existing production facilities to reduce time to first oil and cashflow, with lower investments than traditional offshore developments. The main assets are 73.5% of the producing Dussafu Marine Permit offshore Gabon and a  95% interest in the  Maromba field in  Brazil, both operated  by the company. Total net 2P+2C reserves were 241 million barrels at the start of 2022. For more information, please visit www.bwenergy.no

About IFS

IFS develops and delivers cloud enterprise software for companies around the world who manufacture and distribute goods, build and maintain assets, and manage service-focused operations. Within our single platform, our industry specific products are innately connected to a single data model and use embedded digital innovation so that our customers can be their best when it really matters to their customers-at the Moment of Service™. The industry expertise of our people and of our growing ecosystem, together with a commitment to deliver value at every single step, has made IFS a recognized leader and the most recommended supplier in our sector. Our team of 4,500 employees every day live our values of agility, trustworthiness and collaboration in how we support our 10,000+ customers. Learn more about how our enterprise software solutions can help your business today at ifs.com.

IFS Press Contact: 

Adam Gillbe
IFS, Director of Corporate & Executive Communications
Email: press@ifs.com
Phone: +447775114856

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View original content:https://www.prnewswire.com/news-releases/bw-energy-chooses-ifs-to-drive-global-oilfield-development-301557604.html

SOURCE IFS

FAQ

What is the significance of IFS Applications for BW Energy?

IFS Applications will enhance BW Energy's operational efficiencies and support carbon emissions management in their oilfield development strategy.

Which regions is BW Energy deploying IFS Applications?

BW Energy is initially deploying IFS Applications in the US, Norway, Brazil, West Africa, and Singapore.

How does IFS Applications help BW Energy's growth strategy?

It supports multiple business functions, enabling cost-efficiency, faster project delivery, and improved maintenance scheduling.

When was the IFS Applications announcement made?

The announcement was made on May 31, 2022.

What is the goal of BW Energy's collaboration with IFS?

The collaboration aims to support BW Energy's commitment to low-carbon field developments and efficient resource management.