October 29, 2008

PIDX London Event Will Focus on ROI of Upstream eCommerce in Current Economy: Hosted By OFS Portal

HOUSTON, Oct. 29 /PRNewswire/ -- Reduced transaction costs, faster cycle times and fewer errors are among the eCommerce benefits for upstream oil and gas suppliers and service providers in today's economy that will be highlighted at the 2008 International EU Autumn Meeting of PIDX, the American Petroleum Institute e-business standards development body for the oil and natural gas industry.

The conference, "The Speed of eCommerce," will take place Friday, 7 November 2008, 8:15 - 16:30 in the Mountbatten Room of the Royal Automobile Club, 89 Pall Mall, London, SW1Y 5HS. Registration is open to any upstream suppliers, buyers, procurement and eCommerce professionals. Registration details are available at http://www.pidx.org/ under "Events." The event is hosted by OFS Portal, a global member-based group of upstream oil and gas suppliers and service providers at the forefront of oilfield eCommerce.

Presentations will focus on the critical role of eCommerce in today's economy within the more than $100 billion annual energy procurement marketplace. Keynote speaker Jim Abery of CapGemini will discuss results of a recent survey of Chief Procurement Officers.

About OFS Portal

Headquartered in Houston, OFS Portal, LLC, http://www.ofs-portal.com/, is a member-based group of industry-leading global upstream oil and gas suppliers and service providers who is at the forefront of global eCommerce processes in the oilfield. OFS Portal works with global standards organizations to converge and develop open and non-proprietary eCommerce standards for use in the upstream oil and gas industry, and delivers cost-effective ways to make eCommerce a reality for both buyers and sellers. Electronic data is provided in standard format at no cost to OFS Portal-members' customers. OFS Portal operates with a non-profit objective.

OFS Portal's members include: Baker Hughes, BJ Services, Cameron, FMC Technologies, Greene, Tweed & Co., Halliburton, M-I Swaco, Schlumberger Oilfield Services, Smith International, Trican Well Services, Vetco International Ltd., and Weatherford International. Membership is open to all oilfield suppliers with activities in the upstream oil and gas sector.

About PIDX

The Petroleum Industry Data Exchange, PIDX http://www.pidx.org/, is API's committee on Electronic Business Standards and Processes formed to develop and promote the implementation of electronic standards for the oil and natural gas industry.

OFS Portal

CONTACT: Laura Wang of OFS Portal, +1-832-681-7300,[email protected]

Web Site: http://www.ofs-portal.com/http://www.pidx.org/