New Times Require New IFS Solution for Contractors in the Oil & Gas Industry

ITASCA, Ill.--(Business Wire)--
IFS, the global enterprise applications company, announced today it has enhanced
its offering for engineering, procure and construct (EPC) contractors by
launching the EPC 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 EPC Toolkit can easily be
integrated with all types of enterprise applications.

The EPC Toolkit provides system support for all the operational processes in an
EPC project, including project management, engineering, material management and
job costing.

Most contractors today have either fragmented IT solutions, home-grown solutions
or standard enterprise applications that lack support for operational EPC
processes. At the same time, the industry is experiencing a significant change
in the size of the projects they take on. Many enterprises have adapted their
business applications to mega-projects, but are now faced with changing their
procedures and methods to support smaller projects including asset
modifications.

The oil and gas industry is also experiencing new opportunities in the form of
international projects, and new operators must be agile enough to adopt new
standards and methods in order to handle these 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 EPC
Toolkit.

To address environmental requirements, 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.

"The market has given our agile engineering register a fantastic reception. In
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 EPC
Toolkit for large EPC 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," IFS Director of Oil &
Gas Carl-Magnus Adamsson said.

"We have invested heavily in developing a solution that is unique in terms of
industry-specific, agile support for EPC projects. There have been indications
from oil & gas enterprises that want to include all or part of our solution in
their existing enterprise applications suite, which shows that our competitors
can`t yet deliver this. It is easy to integrate the EPC Toolkit because IFS
Applications is built on an open, service-oriented architecture," Adamsson said.

IFS strategically targets suppliers to the oil & gas industry and has delivered
solutions to this market 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 2,700 employees and net revenue in 2008 was $383 million. More information
on IFS is available at www.IFSWORLD.com/us.

IFS Applications is a trademark of Industrial and Financial Systems, IFS AB
(publ). All other referenced company or product names are trademarks or
registered trademarks of their respective owners.

Kristy Mills
Phone: +1 262 317 7476
kristy.mills@ifsna.com
or
Chuck Rathmann
Phone: +1 262 317 7419
chuck.rathmann@ifsna.com

Copyright Business Wire 2009