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Achilles Announces Acquisition of Supplybase

Source: 3/10/2011, Location: Not categorized

Achilles has just acquired of Perth-based Supplybase VRS, a supplier pre-registration system for the Australian Oil and Gas industry, merging both companies' customer base and operations. The combined entity means we can offer buyers in Asia Pacific all the many benefits of Achilles' global experience in the oil and gas sector, and for suppliers it will maximise opportunities for Australian supplier companies to participate in major resource projects and gain exposure to international markets. APPEA-developed Supplybase is in its 11th year of operation and is the only industry-endorsed supplier registry specifically designed for the Australian oil and gas industry. Building upon Supplybase, Achilles will develop a new system to be named First Point Supplybase (FPS) and plans are already underway to transition all operator and vendor clients onto the Achilles' platform by the end of 2011.

Achilles' CEO Colin Maund says "There were tremendous synergies between the two companies, including our shared focus on improving efficiency in the procurement process, mitigating risk by ensuring compliance and enhancing opportunities for suppliers in major projects in the region. We see this acquisition as a major step forward in securing Achilles' position as a key player in the global oil and gas industry."

According to Supplybase Managing Director, Steve Pretzel, the tie up with Achilles is a great outcome for the Australian oil and gas industry. "Supplybase was developed with the ultimate objective of providing a standardised pre-qualification system that could benefit the entire industry by reducing duplicated effort and improving the quality of data."

"This brings us a lot closer to our original vision for a standardised pre-qualification system and is a giant leap forward as our customers can tap into a system that has been proven in many of the biggest oil and gas markets in the world and has benefited from the investment of many millions of dollars in systems development."

"With increasing emphasis being placed on risk management, quality systems, health and safety systems, environmental policies and maximising local content opportunities the timing couldn't be better."

Achilles began its oil and gas operations in the early 1990's in the North Sea in Norway. Since then, Achilles services have developed further afield in the UK, Argentina, Kazakhstan, Nigeria, Colombia and the Netherlands, with new systems also recently launched in Equatorial Guinea. In particular, Achilles owns and manages the FPAL system in the UK, which is very well known throughout the industry. Achilles has developed their oil and gas systems based on global services to 85 of the world's largest oil and gas companies (including Chevron, Marathon, Shell, Statoil, and Total) and we provide access to the validated information of over 11500 oil and gas suppliers.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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