SAP and Statoil Launch First Open Global Online Marketplace for Oil and Gas Industry

Strategic Insights -

SAP AG and Statoil, the world's second-largest supplier of crude oil, have announced a joint partnership to develop the first open global online marketplace for the oil and gas industry. This marketplace will enable leading oil and gas companies to collaborate and conduct commerce over the Internet, focusing initially on procurement of equipment and services for upstream and downstream business.

Key Takeaways:

  • The mySAP.com Marketplace for the Oil and Gas Industry is designed to increase companies' operating efficiencies and reduce costs through a collaborative business environment.
  • The initial focus of the marketplace will be on procurement of equipment and services for upstream and downstream business, including MRO goods and services, spare parts, equipment, and oil field services.
  • Statoil expects a substantial cost savings from the mySAP.com Marketplace for the Oil and Gas Industry, with procurement costs reaching $4 billion in 1999.
  • The marketplace will provide benefits for both buyers and sellers, including reduced transaction costs, quick and easy evaluation of product alternatives, simplified handling of calls for tender, increased market transparency, and up-to-date product information.
  • The partnership is expected to deliver significant value to the oil and gas industry, enabling companies to remain on the forefront of utilizing new technology and addressing the requirements of the industry.
  • The mySAP.com Marketplace for the Oil and Gas Industry is expected to begin operating in the second quarter of 2000.

Statistics:

  • Statoil's procurement costs reached $4 billion in 1999.
  • The mySAP.com Marketplace for the Oil and Gas Industry is expected to deliver significant cost savings and operational efficiencies to participating companies.
  • The marketplace will be open to all members of the oil and gas industry, with the initial focus on procurement of equipment and services for upstream and downstream business.

Sources:

  • "SAP and Industry Leaders Join Forces to Transform the Way Companies Do Business," SAP AG.
  • "Statoil's Corporate Procurement and Industry Relations," Statoil.
  • "SAP AG and Statoil Announce Partnership to Develop First Open Global Online Marketplace for Oil and Gas Industry," SAP AG.
  • "About SAP AG," SAP AG.
  • "About Statoil," Statoil.