STATOIL AWARDS SHARECAT NOK30 MILLION+ CORPORATE  INFORMATION MANAGEMENT CONTRACT

SHAREcat solution will boost incoming supply chain data quality; cut procurement, inventory, and plant lifetime information management costs across multiple, concurrent projects

Sharecat Solutions has secured an NOK 25 - 30 million (USD $4.1 - 4.9 million) three-year information management contract from Statoil ASA. Sharecat will deploy its specialist software tools and services across multiple and concurrent Statoil projects to collect and classify contractor equipment and parts information, increasing the incoming speed and quality of information required to optimise plant operations and maintenance. “SHAREcat will ensure the highest quality and availability for Statoil’s parts and equipment information - in turn improving and cutting the cost of its e-procurement and inventory management processes” says Sharecat Solutions Vice President Stein-Yngve Iversen. “This will enable safer, more efficient plant maintenance and overhauls as well as cutting information management costs for the lifetime of the facility.”

In proven industry use SHAREcat solutions have improved procurement processes by up to 90% and cut inventory costs by 20%. SHAREcat has been implemented by over 30 oil and gas owner-operators and engineering contractors. Developed in cooperation with industry users, it speeds time to first oil and gas by increasing the quality and accuracy of the supply chain information handed over to plant operations.

Under its contract with Statoil ASA Sharecat will optimise all supplier information and data flow, deduplicating and classifying all information on mechanical, instrument and drilling equipment, parts and materials, including chemicals and dangerous goods – ensuring that every project Materials Master record has a unique data set; and that its supporting documents can be confidently loaded into Statoil’s document management system.