Xvision_Lundin_Pressrelease

Pressrelease

IntroducingboundarybreakingvisualtoolformoreCOSTEFFECTIVEfieldplanning

Oslo,12February2016-XVISION,ahighlyinnovativevisualengineeringcompanybasedinOslo,Norway,knownforprovidingstateoftheart3DvisualsolutionstotheSubseaindustryformorethan15years,hasnowreleasedanewandboundarybreakingtoolforsubstantialimprovementofcosteffectivefielddevelopmentwork,theFieldActivityPlanner.

TheOil&Gasindustryisexperiencingasubstantialwindofchange.Costlevelshavebeengrowingsignificantlywiththehighdemandandnow,whentheoilpriceisplummeting,theindustryneedstoswitchfocus–toimproveefficiencyandreduceitscostbase.

Attackingthenewindustryreality,Xvisionhastogetherwiththeleadingandhighlyinnovativeoilcompany–LundinNorway–developedanewtoolforstrengtheningdecisionmakingintheplanningandoperationofoil&gasfields.

Theapplicationisenablingtheoperatingoil&gascompany–suchasLundinNorway-toquicklydeveloptheirownscenariosoffieldlayoutoptionsandcreateasubstantiallymoresimpleandintuitivevisualizationoftheactivityplanthananyothercurrenttoolsarecapableofdoing.TheapplicationisavailableasaSaaS(SoftwareasaService)solutionthatrunsdirectlyinyourwebbrowserwithstringentsecurityandencryptiontechnology.

“Weareveryexcitedaboutthelaunchofournewdisruptivesolutionforenablingourcustomersplanningandoperatingtheirfields,usingvisualdesigntoaccesscriticaldataformorecosteffectivedecisionmaking”,saysMartinSorensen,BoardMemberofXVISIONandOil&GasIndustryExecutive.

XVISIONenteredintoaclosecooperationwithLundintoensurethattheFieldAPsolutionwasdesignedandstreamlinedforaccommodatingtheworkingproceduresanddecisionmakingprocessesusedbyfieldoperators.

“FieldAPistakingourplanningandmonitoringprocessestothenextlevel-makingallcommunicationanddatasharingfullytransparentacrosstheteam”,saysTomWiderøe,ProjectManageratLundinNorwayAS.

UsingFieldAPtheoperatortypicallycreatesanoverviewoftheequipmentutilized,theactivitiesinvolved,withtimelineandcost.Youcanquicklyvalidateandcompareoptions,andmakeadjustmentsdirectlyinworksessions,savingversionstodocumentprogression.

FieldAPisaglobalofferingtotheentiresubseaandoffshorefielddevelopersaroundtheworld,andisexpectedtotakeastrongpositionasapreferredtoolforplanningandmonitoringinternationaloil&gasfields.

AboutXvisionXvisionisprovidingcuttingedge3Dvisualizationdesigntotheinternationalsubseaandoffshoresectorusingbestofbreedtechnologytosecureefficientandvaluableuserexperiencestotheirgasindustryallovertheworld.Ourteamofvisionary,creativeandcommittedindividualsareamongthemosttalentedvisualengineersintheworld.

AboutLundinNorwayASLundinNorwaywasestablishedin2004toconductoilandgasactivitiesontheNorwegianshelf.Thecompanyhasbuiltupaconsiderablepositionandportfolio.LundinNorwayhasbeenthemostsuccessfulexplorationcompanyinNorwayoverthelastdecade,andisresponsibleforthediscoveryoffieldsincludingEdvardGriegandJohanSverdrupintheNorthSea.ThecompanyhasalsomadesignificantdiscoveriesintheAltaandGohtaprospectsinthesouthernBarentsSea.TheEdvardGriegfieldisnowinproduction,withLundinasoperator.Today,thecompanyisafullyintegratedoilcompanywhichisactivewithinexploration,developmentandoperations.OurheadquartersislocatedatLysakerinBærummunicipality.WealsohaveabranchofficeinHarstad..Contactinformation:XvisionASMartinSorensen,BoardMemberMob:+4791324889Mail:martin@masoinvest.comOlavSylthe,CTOMob:+4748400464Mail:olav.sylthe@xvision.no