Emerson Acquires Roxar ASA
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Deal expands upstream oil and gas automation to span from reservoir to transmission
ST. LOUIS (May 5, 2009) - Emerson (NYSE: EMR) today announced it has acquired Roxar ASA. The deal creates the world's first integrated automation solutions company whose products span from subsea oil and gas reservoirs, to platform and floating production, to transmission, and ultimately through refining and production of goods . Roxar becomes part of Emerson Process Management, adding subsea reservoir management and production optimization for global upstream exploration and production (E&P) customers.
Headquartered in Stavanger, Norway, Roxar has annual revenue of US$200 million. It has 28 offices in 19 countries with a network of wholly owned offices in Europe, the Americas, Africa, CIS, Asia Pacific and the Middle East. Roxar's International customer base includes all of the multinationals, major independents and the majority of national oil companies.
"This acquisition is strategic to extending our solutions to help E&P owners meet the automation challenges of offshore subsea," commented Steve Sonnenberg, president of Emerson Process Management. "Roxar's knowledge, technology and services combine perfectly to expand Emerson's solutions."
PlantWeb digital architecture uses intelligent digital networks to create smart platforms, FPSOs, and on-shore facilities. Roxar's products and software systems add major sub-sea capabilities, including smart downhole networks to support E&P owner's growing need for real-time reservoir production optimization and flow assurance.
"Roxar is the upstream industry's largest provider of subsea instrumentation - a complement to Emerson's end-user-voted industry leading instrumentation and valves that power the digital PlantWeb architecture," added Sonnenberg.
"We are excited to join Emerson and bring together our common drive for innovation, complementary products, and customer solutions," commented Gunnar Hviding, CEO and President of Roxar. "Our mission, now supercharged by this union, continues to be one of effectively solving E&P owner's reservoir management problems and helping them maximize production."
Roxar solutions are based on knowledge of reservoir flow dynamics by the company's staff of geoscientists, engineers, software developers and computer scientists. The solutions combine real-time data from the company's multiphase flow instruments, with predictive models from its software to help operators monitor production continuously, observe and control oil and gas fields from remote locations, process large volumes of vital reservoir data quickly and use the most up-to-date field information when making operational decisions.
As Emerson does for topside and on-shore process management, Roxar experts provide consultancy services for entire reservoir management including topside, subsea and downhole. Roxar solutions allow reservoir operators to make reservoir management and flow assurance decisions with maximum amount of information. Roxar solutions include Reservoir Interpretation, Reservoir Modeling and Uncertainty Management, Reservoir Simulation, Well and Completion, and Production and Process Management.
About Roxar
Roxar (Oslo Børs: ROX) is a leading international technology solutions provider to the upstream oil and gas industry. The company creates value for its customers through innovative products and services that help achieve maximum performance from oil and gas reservoirs.
About Emerson Process Management
Emerson Process Management (www.emersonprocess.com), an Emerson business, is a leader in helping businesses automate their production, processing and distribution in the oil and gas, chemical, refining, pulp and paper, power, water and wastewater treatment, mining and metals, food and beverage, pharmaceutical and other industries. The company combines superior products and technology with industry-specific engineering, consulting, project management and maintenance services. Its brands include PlantWeb®, Fisher®, Rosemount®, Micro Motion®, Daniel®, DeltaV(TM), Ovation®, and AMS® Suite.
About Emerson
Emerson (NYSE:EMR), based in St. Louis, Missouri (USA), is a global leader in bringing technology and engineering together to provide innovative solutions to customers through its network power, process management, industrial automation, climate technologies, and appliance and tools businesses. Sales in fiscal 2008 were $24.8 billion and Emerson is ranked 94th on the Fortune 500 list of America's largest companies. For more information, visit www.Emerson.com.
Contacts:
Jerry Moon,
Emerson Process Management
1 (512) 832-3089,
Jerry.Moon@Emerson.com
Hege Forus,
Emerson Process Management,
Roxar
+47 99 24 11 09,
hege.forus@roxar.com
