OSLO, NORWAY--(Marketwired - Feb 27, 2014) - CGI (GIB)(TSX:GIB.A) has signed an agreement to operate and further develop an IT system that manages oil and gas activities on the Norwegian continental shelf and internationally. The agreement with EPIM (Exploration and Production Information Management Association) has a total value of 74 million NOK (approx. CAD $13.5 million) over four years. EPIM is owned by companies engaged in exploration, production and transportation in Norway's offshore petroleum industry.
Today's announcement extends and expands the partnership between the two companies. Since 2009, CGI has developed, maintained and operated the cloud-based License2Share (L2S) with EPIM. This solution provides operators, partners, engineering companies and governments with common IT tools to use in their day-to-day work. L2S gathers key information for the oil and gas industry in a common application, and then facilitates secure and efficient information sharing, both within each company's respective operating licenses and between the various players in the industry. Based on OpenText technology, the L2S solution contains more than three million documents and is used by over 7,500 different users.
Under the new agreement, CGI will assume responsibility for operating L2S to support exploration on the Norwegian continental shelf and internationally until 2017. During this time, CGI will continue to operate an L2S solution for international oil and gas exploration. To further improve user satisfaction, CGI will upgrade the L2S portal and user interface leveraging an OpenText portal solution. CGI has also signed a letter of intent to standardize and enhance all EPIM end-user support agreements.
"CGI has consistently proven its ability to deliver on our technical and commercial requirements," said Ove Ryland, executive director, EPIM. "We have worked closely with CGI since 2009 and are pleased to extend the operation of the L2S solution, both on the Norwegian continental shelf and internationally. We look forward to collaborating with CGI to develop the next version of this important solution."
"Advanced cloud platforms are one of CGI's main areas of expertise," said Svein Atle Hagaseth, director in charge of CGI's License2Share, in Norway. "We are delighted that EPIM has extended and expanded our agreement. Improving the end-user experience is always a priority for us at CGI, and we look forward to further enhancing the solution to give it a more modern and user-friendly interface."
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 68,000 professionals serve thousands of global clients from offices and delivery centers across the Americas, Europe and Asia Pacific, leveraging a comprehensive portfolio of services including high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management as well as a wide range of proprietary solutions. With annualized revenue in excess of C$10 billion and an order backlog exceeding C$19 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB).Website: www.cgi.com.
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All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and are "forward-looking information" within the meaning of Canadian securities laws. These statements and this information represent CGI's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements or forward-looking information. These factors include but are not restricted to: the timing and size of new contracts; acquisitions and other corporate developments; the ability to attract and retain qualified members; market competition in the rapidly evolving IT industry; general economic and business conditions; foreign exchange and other risks identified in the press release, in CGI's annual and quarterly Management's Discussion and Analysis ("MD&A"), in CGI's Annual Report, in CGI's Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), and in the Company's Annual Information Form filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com), as well as assumptions regarding the foregoing. The words "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan," and similar expressions and variations thereof, identify certain of such forward-looking statements or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information.
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