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Edmonton, Canada; Melbourne, Australia; and Brisbane, Australia (October 12, 2022) – OneSoft Solutions Inc. (TSX-V:OSS; OTCQB:OSSIF) (“OneSoft”) and its OneBridge operating subsidiaries (“OneBridge”) and Worley Group, through its Advisian Asset Advisory division (“Advisian”), are pleased to announce that Jemena (“Jemena”) has entered an agreement to use Cognitive Integrity ManagementTM (“CIM”) in its pipeline integrity management processes.
Peter Harcus, Jemena General Manager, Gas Assets and Operations said: “Managing the integrity and safety of our extensive gas pipeline network is Jemena’s priority, and we have recently used CIM to optimise the integrity management of our assets. Instead of our engineers having to manually analyse data from inspections of our pipelines, this cloud computing platform helps automate the process, providing us with data that gives us a much fuller picture of the actual condition and threats to the ongoing safety of our pipelines. This means we can make better long-term decisions about our infrastructure and target our activities and expenditure to optimise programs and reduce costs by proactively managing any emerging issues. Working with the team on this pilot project has led us to enter the agreement with CIM and Advisian for future pipeline management projects and they will help us achieve our objective of maintaining technological leadership in the industry.”
Hossein Khalilpasha, Principal Engineer and Asset Advisory Team Lead for Advisian said, “We have enjoyed working with the Jemena team on CIM projects during the past 18 months, which efforts have generated new learnings and processes that Jemena and Advisian continue to share with industry peers at various industry events in Australia. We are glad to be collaborating to improve integrity management processes through more comprehensive analyses of the under-used data that the pipeline industry has access to.”
“In true leadership form, Jemena was the first Australian company to work with Advisian to enhance pipeline asset management and has now become the first Australian pipeline operator to augment legacy integrity management processes with CIM’s new technology that leverages machine learning, data science and cloud computing,” stated Tim Edward, OneBridge Canada President. “We are optimistic that growth of CIM use will continue as Advisian efforts world-wide create more awareness of our solutions amongst pipeline operators.”
Pursuant to the working arrangement, Jemena has entered into a multi-year CIM-use agreement with OneBridge and Advisian will provide CIM expertise for Jemena on a consulting basis.
Jemena owns and operates a diverse portfolio of energy assets across northern Australia and Australia’s east coast. With more than $11 billion worth of major utility infrastructure, Jemena supplies millions of households and businesses with essential services every day. As a provider of gas and electricity, Jemena has enduring relationships with customers and the communities where it operates. The business is committed to delivering energy safely, reliably and affordably, and to supporting Australia’s transition to a low-carbon future.
Advisian is the global consulting business of the Worley group which is listed on the Australian Securities Exchange (ASX: WOR). We are a community of advisors, scientists, strategists, planners and engineers who help clients solve some of the world’s complex and critical energy, chemicals and resources challenges. Our purpose is delivering a more sustainable world. As a knowledge-based service provider, we use our knowledge and capabilities to support our customers to reduce their emissions and move towards a low carbon future.
About OneSoft and OneBridge
OneSoft has developed software technology and products that have capability to transition legacy, on-premises licensed software applications to operate on the Microsoft Azure Cloud Platform. Our business strategy is to seek opportunities to incorporate Data Science and Machine Learning, business intelligence and predictive analytics to create cost-efficient, subscription-based software-as-a-service solutions. Visit www.onesoft.ca for more information.
OneSoft's wholly owned subsidiary, OneBridge Solutions Canada Inc., develops and markets revolutionary new SaaS solutions that use advanced Data Sciences and Machine Learning to analyze big data using predictive analytics to assist Oil & Gas pipeline operators to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs, and address regulatory compliance requirements. Visit www.onebridgesolutions.com for more information.
For more information, please contact.
OneSoft Solutions Inc.
Dwayne Kushniruk, CEO
Sophic Capital Inc.
Sean Peasgood, Investor Relations
Hossein Khalilpasha, Principal Integrity Engineer
Peter Cox, VP Energy & Chemicals – Australia East & PNG
Tom Amrein, Engineer, Gas Distribution
Media +61 1300 331 239
This news release contains forward-looking statements relating to the future operations and profitability of OneSoft Solutions Inc. (the “Company”) and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects”, “believe”, “will”, “intends”, “plans” and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided to deliver information about management's current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.
In respect of the forward-looking information and statements the Company has placed reliance on certain assumptions that it believes are reasonable at this time, including expectations and assumptions concerning, among other things: the impact of Covid-19 on the business operations of the Company and its current and prospective customers; the availability and cost of labor and services; the efficacy of its software; our interpretation based on various industry information sources regarding the total miles of pipeline in the USA and globally and which segments are piggable; our understanding of metrics, activities and costs regarding evaluation, inspection and maintenance is in alignment with various industry information sources and is reasonably accurate; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; that there are no unforeseen material development or other costs related to current growth projects or current operations; the success of growth projects; future operating costs; interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; the sufficiency of budgeted capital expenditures in carrying out planned activities; and no changes in applicable tax laws. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to many factors and risks. These include but are not limited to the risks associated with the industries in which the Company operates in general such as: costs and expenses; interest rate and exchange rate fluctuations; competition; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws.
Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by Canadian securities law.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act or other laws.
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