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Press release Introducing boundary breaking visual tool for more COST EFFECTIVE field planning Oslo, 12 February 2016 - XVISION, a highly innovative visual engineering company based in Oslo, Norway, known for providing state of the art 3D visual solutions to the Subsea industry for more than 15 years, has now released a new and boundary breaking tool for substantial improvement of cost effective field development work, the Field Activity Planner. The Oil & Gas industry is experiencing a substantial wind of change. Cost levels have been growing significantly with the high demand and now, when the oil price is plummeting, the industry needs to switch focus – to improve efficiency and reduce its cost base. Attacking the new industry reality, Xvision has together with the leading and highly innovative oil company – Lundin Norway – developed a new tool for strengthening decision making in the planning and operation of oil & gas fields. The application is enabling the operating oil & gas company – such as Lundin Norway - to quickly develop their own scenarios of field layout options and create a substantially more simple and intuitive visualization of the activity plan than any other current tools are capable of doing. The application is available as a SaaS (Software as a Service) solution that runs directly in your web browser with stringent security and encryption technology. “We are very excited about the launch of our new disruptive solution for enabling our customers planning and operating their fields, using visual design to access critical data for more cost effective decision making”, says Martin Sorensen, Board Member of XVISION and Oil & Gas Industry Executive. XVISION entered into a close cooperation with Lundin to ensure that the FieldAP solution was designed and streamlined for accommodating the working procedures and decision making processes used by field operators. “FieldAP is taking our planning and monitoring processes to the next level - making all communication and data sharing fully transparent across the team”, says Tom Widerøe, Project Manager at Lundin Norway AS. Using FieldAP the operator typically creates an overview of the equipment utilized, the activities involved, with timeline and cost. You can quickly validate and compare options, and make adjustments directly in work sessions, saving versions to document progression. FieldAP is a global offering to the entire subsea and offshore field developers around the world, and is expected to take a strong position as a preferred tool for planning and monitoring international oil & gas fields. About Xvision Xvision is providing cutting edge 3D visualization design to the international subsea and offshore sector using best of breed technology to secure efficient and valuable user experiences to their gas industry all over the world. Our team of visionary, creative and committed individuals are among the most talented visual engineers in the world.

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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:[email protected],CTOMob:+4748400464Mail:[email protected]