INDUCT - EXTENDED CONTRACT WITH STATOIL
OSLO, 9 November 2017 – Induct AS has extended the contract with Statoil ASA Reference is made to the announcement on 5 April 2017 on a contract made with Statoil innovation department, which covered an initial pilot project. Based on a successful completion of the pilot, and a high degree of satisfaction, Statoil will company-wide roll out the Induct platform. The ARR (annual recurring revenue) of the current contract is NOK 540,000. The contract also includes commercial terms for potentially deploying the Induct platform for supporting additional business processes and areas within