IFS Applications selected by PGS

IFS Applications selected by PGS

IFS, the global enterprise applications company, today announces that Petroleum
Geo-Services (PGS) has chosen IFS Applications for its business area operations.
The contract has a value of NOK 17.5 million and includes software and
implementation services. IFS expects to deliver the project in 2012.

PGS, a leading global geophysical company, has chosen IFS Applications
components for processes within Maintenance, Backdeck, Logistics, Procurement
and selected parts of Finance and Control. The solution will be implemented
onshore as well as on vessels and includes replication between vessels and the
land based organization in Norway.

“In our experience, most companies will benefit from best-practice business
models in their industry. Thus, we have built standard solutions for selected
industries. By working closely with our customers in product development,
through early-adopter programs and industry advisory councils, we are at the
forefront of business trends and able to deliver best-practice industry
solutions to our customers,” said Glenn Arnesen, CEO IFS Scandinavia.

The Oil & Gas industry is one of IFS’s core markets and an IFS Centre of
Excellence. IFS offer flexible, component-based business solutions that manage
the entire lifecycle of contracts, projects, assets and services. IFS
Applications includes functionality for contract and project management, risk
management, budgeting and forecasting, engineering, material management,
fabrication, document management, service and asset management, all integrated
with financials and human resources.

Customers include Grenland Group, Babcock Engineering Services, Heerema
Fabrication Group, Seadrill, Yantai Raffles, Archer, Apply Sørco, APL, Hertel,
Bergen Group Rosenberg, Technip, BWO, Semco Maritime, Reinertsen, STX Europe,
NCA and Hamworthy Gas Systems.

Contact Information
Anne Vandbakk
Telefon: 46 8 58 78 45 00
Corporate Communications Director
anne.vandbakk@ifsworld.com

Frédéric Guigues
Telefon: 46 8 58 78 45 00
Investor Relations
frederic.guigues@ifsworld.com