WORLDOIL.COM LAUNCHES COMPOSITE CATALOG LIVE ONLINE
- Largest Listing of Oilfield Equipment and Services Found Anywhere on The Internet Forms Basis for Future Interactive E-Commerce Capabilities
Houston, April 4 - WorldOil.com, the leading information and business to business e-commerce portal for the oilfield services industry, has launched a live online version of its proprietary Composite Catalog for Oilfield Equipment & Services® to create the largest listing of oilfield equipment and services available anywhere on the Internet.
The online catalog will serve as the foundation for building WorldOil.com's interactive e-commerce capabilities, which will launch in several phases. Currently, buyers can access direct e-mail links to suppliers from any page in the online catalog. In May, the company will add interactive request for quote (RFQ) capabilities. In the third quarter, WorldOil.com will begin full, seamless interactive procurement capabilities and initial fulfillment and logistics services. This full commerce catalog capability will be dynamic and will grow in scale and services over time.
WorldOil.com is the only online site for the oil and gas industry offering e-commerce from a catalog-centric business model. The Composite Catalog® has been the leading industry purchasing catalog of choice for more than 4,500 oil and gas companies and 200,000 professionals around the world for more than 70 years. By moving its contents online, WorldOil.com is positioned to become the only true one-stop Internet shop for upstream professionals, offering hundreds of thousands of products and services from more than 162 world-class manufacturers and service companies.
WorldOil.com's expanded online site also features industry news feeds and related technical articles, charts, graphics and industry analytics from World Oil magazine, published by Gulf Publishing Company, a leading energy industry information resource for nearly 90 years.
"To be a successful B2B e-commerce solution, a site must deliver a critical mass of leading suppliers so customers will have a compelling reason to log on, learn on, stay on and buy on, and on and on," said Lorne D. Bain, chairman, president and chief executive officer of WorldOil.com. "We achieved instant critical mass today by launching the Composite Catalog® online. With our unique combination of online products, industry news and proprietary editorial content, WorldOil.com users will have access to the key information they need to make easy, quick, informed and cost-effective buying decisions."
WorldOil.com's multi-channel front-end architecture supports search capabilities among 1,800 product and service categories for superior online search and comparison capabilities. The platform's scalability will allow WorldOil.com to add significantly more products and services to the catalog-based system without compromising throughput functionality. In addition, the site is built to ensure secure transactions via a log-on and membership process utilising SSL.
As the company builds a 360-degree end-to-end procurement solution for the industry, WorldOil.com's underlying architecture will be able to integrate other value-added services, such as credit risk management, contract services, logistics and fulfillment tracking, accounting support and more, as the online oilfield marketplace develops. "We have the capability to add interactive commerce quite soon to our current critical mass of online supplies and services. This allows us to bring full scale e-commerce to the industry faster and more completely than other sites in this space. As a trusted, independent third-party resource, WorldOil.com is truly the neutral online marketplace of choice where sellers and buyers will both participate without conflicts of interest," Bain added.
WorldOil.com is the online information portal for World Oil magazine, serving the global exploration and production industry since 1916. WorldOil.com is the largest listing of oilfield tools and equipment available anywhere on the Internet. As the leading online aggregator of industry products and services, WorldOil.com will launch initial request for quote (RFQ) capabilities in May 2000 and introduce catalog-driven interactive business-to-business e-commerce capabilities by the third quarter to facilitate oilfield equipment procurement over the Internet. For more information, visit http://www.worldoil.com .
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