Matrikon to supply oil field monitoring solution to Statoil |

Matrikon to supply oil field monitoring solution to Statoil

January 11, 2010 - Matrikon has been selected to build an intelligent oil field solution for Statoil’s Norwegian well and production facilities including 35 off-shore assets in the North Sea with the possibility of international expansion following successful implementation in Norway. Statoil is one of the largest energy companies in the world. The project is estimated at €4.2 million.

“We believe that Matrikon has deployed Intelligent Field (i-Field) solutions to more oil and gas wells than any other independent solution provider,” stated Ian Brown, vice president EMEA. “This recent win, which follows an exhaustive evaluation process reaffirms our market leadership and demonstrates that our solution has what the oil and gas industry needs to take digital oil fields to the next level, where they can not only integrate and access information from the field to the desktop, but can also integrate workflows across engineering, managerial and maintenance domains for consistent action.”

The solution employs the latest version of Well Performance Monitor, which is now empowered by Intuition to combine the powerful data cleansing, visualization and analysis tools from Matrikon’s traditional Well Performance Monitor integrated solution with advanced tools for collaboration and workflow management.

Intuition delivers a foundation for unified enterprise-wide information management, moving beyond accessing data, transforming it into information and displaying it to providing context – a unified view of an organization’s data assets so that business and industrial processes can co-exist seamlessly, collaboration – the ability to access the right data at the right time and share information across business units and action – with integrated workflows to ensure the right action is taken.

The project also includes Matrikon’s Equipment Condition Monitor for a complete operational excellence program including condition-based equipment monitoring and maintenance and associated workflows.

Statoil’s commitment to technology positions them as a pioneer in Intelligent Field and Smart Well technologies and as one of the most technologically advanced oil and gas companies in the world.

The first phase includes a two site pilot and is expected to be completed in December 2010.

About Statoil
Statoil is an international energy company with operations in 40 countries. Building on more than 35 years of experience from oil and gas production on the Norwegian continental shelf, the company is committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. Statoil is headquartered in Norway with 30,000 employees worldwide, and is listed on the New York and Oslo stock exchanges.

About Matrikon
Matrikon provides industrial intelligence solutions that transform production data into the knowledge needed to anticipate problems and optimize operations — empowering and sustaining the achievement of operational excellence. With offices throughout North America, Australia, Europe and the Middle East, and clients who are industry leaders in the process industries, power generation and mining, Matrikon's reach is global. Matrikon has been empowering excellence since 1988, and is traded on the Toronto Stock Exchange under the symbol MTK.
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