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IFS identified as a leading software supplier to the oil and gas industry

Oilfield Technology,

ARC Advisory Group, a leading information technology research and advisory firm for industry and infrastructure, has identified IFS, a global enterprise applications organisation, as the number one vendor in market share in enterprise asset management software for oil and gas industries.

In ARC Advisory Group’s publication ‘Enterprise Asset Management Global Market Research Study’, the organisation recognises IFS as the leading supplier to the global oil and gas industry. The report, which forecasts the market through 2020, identifies one of IFS's strengths as its established component and service-oriented architecture. This enables customers to purchase an enterprise asset management solution that fits their unique and specific asset lifecycle management needs.

"The oil and gas industry operates in an environment in which asset integrity management is crucial," commented Ralph Rio, Research Director for Enterprise Software at ARC Advisory Group. "The commodity pricing of the petroleum sector creates extreme pressure to control cost while preventing catastrophic failures across asset classes, including offshore oil rigs and pipelines."

IFS Director for the oil and gas industry, Knut Møystad, added: "The leading position IFS commands in the oil and gas market has been confirmed once again in this latest study by ARC. For more than 20 years, we have worked closely with leading EPCI contractors, drilling contractors, system/equipment suppliers and mobile asset owners to ensure our solutions meet the industry's stringent requirements. Our focus on the oil and gas industry is evidenced both by a deep industry expertise and a solid track record. Dedication to the industry has also attracted a numerous of partner organisations to the IFS network, which we believe is beneficial for our customers."

Adapted from press release by Anna Nicklin

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