Cindy Kelemen
Marketing Director
DO2 Technologies
ckelemen@do2.com
OFS Portal LLC, and EnCana Corporation (TSX & NYSE: ECA) signed an agreement that will govern many of the key aspects of eCommerce between EnCana Corporation, OFS Portal and its members. Contemporaneously, OFS Portal and DO2 Technologies agreed to terms that will facilitate the exchange of electronic content and transactional information between OFS Portal’s members and EnCana using the DO2 Technologies platform. EnCana is North America's largest independent natural gas producer and gas storage operator. OFS Portal represents major upstream oil and gas suppliers who participate in the advancement of eCommerce by creation and adoption of standards and by publishing digital content to their customers. DO2 Technologies Inc. is a software company that provides internet based financial and operational solutions between energy companies and their suppliers.
“We are pleased to establish this relationship and view this as an important step in leveraging global e-procurement initiatives of OFS Portal members and EnCana,” said William Le Sage, CEO of OFS Portal. “We are confident that this mutually beneficial agreement provides an opportunity for improved productivity and further cost savings in the sourcing, ordering and fulfillment of products and services between EnCana and our members.”
“By signing this agreement we strengthen the relationship with our key upstream suppliers and further realize one of our key e-business strategies of integrating our back-office with those of our suppliers using DO2 Technologies’ Supplier Integration platform,” said Hayward Walls, CIO, EnCana. “We plan to begin transacting electronic invoices and field tickets with some OFS Portal members through DO2 Technologies’ OpenInvoice immediately. Overall we see this as a win-win opportunity and anticipate that by increasing our eBusiness activity we can increase our speed and effectiveness while reducing the transactional costs of doing business.”
“We are delighted to be providing the technology solution that will allow EnCana and the OFS Portal member companies to conduct business electronically. It’s an important milestone, and it gives us the opportunity to expand our work with some of the most capable global suppliers in the upstream oil and gas industry,” said Rod Munro, President and CEO, DO2 Technologies. By automating the transactions of electronic invoices and field tickets EnCana and OFS Portal members will reduce their amount of paper documents and their total costs for invoice settlement using DO2 Technologies.
Within these agreements, EnCana, DO2 Technologies and OFS Portal and its members have affirmed to each other their commitment, regarding the confidentiality and use of electronic content and transactional information. OFS Portal has been instrumental in the development of the industry-wide electronic classification and transaction standards through the Petroleum Industry Data Exchange (PIDX) Committee of the American Petroleum Institute. EnCana, DO2 Technologies, OFS Portal and their respective buyers and suppliers will continue to cooperate on developing and supporting industry-wide PIDX electronic content and transactional standards.
OFS Portal, headquartered in Houston, represents an industry-leading group of world-wide upstream oil and gas suppliers and service organizations and is at the forefront of global eCommerce processes in the oilfield. OFS Portal is working with its members and global standards organizations to develop convergence strategies for electronic formatting of products and services descriptions and transactions standards for use in the upstream oil and gas industry. OFS Portal provides access to digital business information with activities such as publishing electronic catalogues of its members' products and services. OFS Portal has assisted in the development of a set of transaction format standards with PIDX for oilfield B2B e-commerce.
Catalogue data can be provided in OFS Portal standard format at no cost to its members’ customers. OFS Portal is operated with a non-profit objective, as a service to the oilfield service industry. OFS Portal’s members include ABB, Baker Hughes, BJ Services, Cooper Cameron, ENSCO, FMC Technologies, Greene, Tweed, Halliburton, Kvaerner, M-I, Schlumberger, Smith Industries, Grant Prideco, Tetra Technologies, and Weatherford. Membership is open to any oilfield supplier with activities in the upstream oil and gas industry. www.ofs-portal.com
Contact:
William Le Sage
CEO
OFS Portal
(832) 681-7300
info@ofs-portal.com
EnCana is one of the world's leading independent oil and gas companies, driven to be the industry's best-in-class benchmark in production cost, per-share growth and value creation.
EnCana is North America's largest independent natural gas producer and gas storage operator. Ninety percent of the company's assets are in four key North American growth platforms. EnCana is the largest producer and landholder in Western Canada and is a key player in Canada's emerging offshore East Coast basins. In the U.S., EnCana is one of the largest gas explorers and producers in the Rocky Mountain States and has a strong position in the deepwater Gulf of Mexico. The company has two key high potential international growth platforms: EnCana is a large oil producer in Ecuador and is the operator of a large oil discovery in the U.K. central North Sea. EnCana common shares trade on the Toronto and New York stock exchanges under the symbol ECA. www.encana.com
Contact:
Florence Murphy
Vice-President, Public and Community Relations
EnCana Corporation
(403) 645-4748
DO2 Technologies delivers Internet-based solutions that automate and integrate financial and operational processes between energy companies and their suppliers. Its products simplify complex workflow processes and enable collaboration within and between Drilling, Production, Finance, Procurement, and Purchasing departments, as well as external service suppliers and partners.
Cindy Kelemen
Marketing Director
DO2 Technologies Inc.
(713) 260-9693
ckelemen@do2.com
http://www.do2.com