Oil & Gas (Upstream)
Industry Challenges
The depletion of reservoirs, fragmentation of oil fields, low productivity per well due to declining and dispersed reservoirs, quality of oil and gas requiring further processing, high costs of financing investment projects, logistical difficulties are major current challenges in the extractive industry.
Facing daily fluctuations in the prices of petroleum products in the context of global competition, determines the need for a rigorous organization of structures to analyze the profitability of products, services, activities, departments of the organization.
Efficient cost management can support companies in this industry in determining the unit cost for crude oil, natural gas and related products (ethane, ethylene, gasoline, LPG, etc.) by organizational structure, reservoir, geological formation, extraction activities (crude oil, natural gas, other product production phases), extraction systems (onshore and offshore, gaslift, injection, pumping, etc.), well fleet, scaffolding, well.
Proposed Functionality
- Geological structures and formations
- Geological layers, deposits, extraction systems, etc.
- Branches, scaffolding, parks, wells
- Extraction of crude oil and/or natural gas
- Product specific processing
- Ancillary activities: repairs, drilling, mechanical activities, transport, distribution, etc.
- Intervention management
- Cost management
- The unit cost of oil, gas, and associated products
- Dynamic allocation of indirect costs/product
- Reservoir efficiency
- Profitability product/well level
- Asset Management, Investment
- Safety stock management
- Finance, Logistics, HR& Payroll
What we help with
Through real-time control of all processes, from production scheduling, procurement management and collaboration with service providers, cost recording by production phase, asset and intervention management, to production delivery and determination of total actual costs, managers are provided with access to critical business logs and analysis to support decision- making.
The multitude of activities – extraction, injection, piezometric measurement, compression, drying, stripping, de-ethanisation, purification, liquefaction, production sampling, sand testing, well capital repair, onshore and offshore drilling, mechanical, energy, transportation, distribution, etc. – leads to the simultaneous use of several methods for calculating total and unit costs (oil, gas, associated products): the full cost method, the ABC (Activity Based Cost) method, the equivalence index method, the global method, by phase, by order.
Extractive Industry operational processes are integrated with Logistics, Finance, HR & Payroll, Asset Management, Investment Management, and Project Management to provide a complete solution that drives performance across the organization’s value chain.
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