SOURCE: Navarik



August 02, 2012 05:00 ET

Navarik VEF Service Adds ExxonMobil

ExxonMobil the Latest Major Oil Company to Subscribe; Navarik Offers the Latest in Data Services; Recognized as a Trusted Service Provider

VANCOUVER, BC--(Marketwire - Aug 2, 2012) - Navarik VEF Service (Navarik Corp.), a global leader in the management of cargo inspection data for the oil industry, announced today that ExxonMobil has joined several other major oil companies who have entered an agreement for Navarik services.

Navarik's VEF (Vessel Experience Factor) Service, launched November 1, 2011, aggregates cargo inspection data across all Navarik customers to create a single repository for more efficient and accurate cargo measurement reconciliation.

Navarik VEF represents the first of many data services that Navarik will develop upon its existing software platform, which is used today by the oil industry for managing physical operations. Patrick Rooney, President & CEO of Navarik, stated, "We are delighted with ExxonMobil's decision to contract with Navarik VEF Service which reinforces Navarik's role as a trusted third-party provider of aggregate data. Over the coming months, Navarik will continue to work to develop new aggregate data services and increase the size of our data pool by acquiring new customers."

About Navarik

Navarik's mission is to be the leading provider of physical operations software and data services for the commodity trading industry by leveraging its on-demand software platform and industry expertise. Many of the world's largest oil companies rely on Navarik's flagship product, Navarik Inspection™, for business process automation and data intelligence to help them optimize trade with their counterparties and achieve better performance from their inspection firms, terminals and vessels.