ARMONK, NY – IBM (NYSE: IBM) today announced that Cenovus Energy Inc., a leading Canadian integrated oil and gas company, has turned to IBM Services to help modernize its business processes and advance its overall digital transformation. IBM Services will implement a new SAP® platform to help Cenovus integrate and streamline processes aimed to improve operational efficiency within the organization.

Since its establishment as an independent operator in 2009, Cenovus, which employs approximately 3,000 people, continues to grow and develop assets across its oil sands projects in Alberta, natural gas and oil production in Alberta and British Columbia and two U.S refineries where the company has 50 percent ownership. The company purchased most of ConocoPhillips’ Western Canadian operations in 2017 which required implementation of standalone back office systems. To support future growth, Cenovus recognized a need to update its Enterprise Resource Planning (ERP) environment, and IBM Services will work with Cenovus to implement SAP S/4HANA®, SAP Ariba®, SAP BW/4HANA®, SAP Business Panning and Consolidation 11, and SAP Fieldglass® software.

SAP S/4HANA will aim to simplify, standardize, centralize and automate Cenovus’s major business processes, providing a foundation for applying innovations and technologies like AI. The SAP S/4HANA platform will also help provide the flexibility to integrate new operations as Cenovus expands its business.

IBM Services will help Cenovus digitally transform its operations and standardize processes with the implementation of a new SAP S/4HANA ERP system, providing a centralized view of real-time information across various departments that will aim to improve decision-making and further their position as the industry leading oil sands operator. IBM Services will utilize advanced implementation methods and automation tools, including pre-configured IBM Industry Impact Solutions, to design, build and configure SAP applications to support the company’s major back office business processes and help accelerate the adoption of the SAP S/4HANA suite of applications.

In addition to implementing the new SAP platform, IBM Services will provide talent and engagement resources to guide Cenovus through the digital change process, helping put in place training for the new systems and new ways of working to drive leadership and cultural change throughout the organization.

“Digital transformation and modernization are imperative to our business strategy,” said Charity Elder, ERP Program Director, Cenovus Energy. “In working with IBM Services to implement SAP S/4HANA, we are looking forward to leveraging their accelerators and templates to drive alignment to best practice and process standardization, placing us in a better position with business capabilities, operational efficiency and technology.”

“As we enter the next chapter of digital reinvention, the oil and gas industry is primed for transformation, with companies turning to new platforms that will maximize the value of their assets, lower operating costs and continue to improve on their sustainable operations. By deploying a new, modern, end-to-end SAP S/4HANA-based platform, Cenovus seeks to unlock operational insights and innovate faster to better respond to market changes and growth opportunities” said Ross Manning, Vice President, Partner, Canadian Energy Industry, IBM. “By leveraging acceleration methods and automated, templatized tools, IBM Services can help Cenovus with their business transformation journey with SAP S/4HANA.”

The contract was signed in third quarter 2019.

About IBM

For more information about IBM Services, visit https://www.ibm.com/services. For more information about IBM’s SAP services, visit https://www.ibm.com/services/sap.

About Cenovus Energy

Cenovus Energy Inc. is a Canadian integrated oil and natural gas company. It is committed to maximizing value by responsibly developing its assets in a safe, innovative and efficient way. Operations include oil sands projects in northern Alberta, which use specialized methods to drill and pump the oil to the surface, and established natural gas and oil production in Alberta and British Columbia. The company also has 50% ownership in two U.S. refineries. Cenovus shares trade under the symbol CVE, and are listed on the Toronto and New York stock exchanges. For more information, visit cenovus.com.

Media Contact:

Marisa Conway
IBM Media Relations
conwaym@us.ibm.com

Lorraine Baldwin
IBM Media Relations – Canada
lorraine@ca.ibm.com