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  • Hydrocarbon Accounting Solutions For KPOGCL

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    asadnawaz
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    This document provides an overview of a hydrocarbon accounting solution for joint ventures in the upstream oil and gas industry. The key points are: 1) The solution addresses problems with current manual processes such as inconsistent data, redundant data entry, and a lack of integration that can lead to errors and poor visibility. 2) The solution's core modules include joint venture accounting, authorization for expenditure, budgets and forecasts, reporting, fixed assets management, and payroll management. 3) Implementation will focus first on rapid deployment of the core JVA, AFE and financial modules without customization, while additional modules like purchasing and inventory will be customized and integrated in parallel.

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    P2ES

    Original Title

    Hydrocarbon+Accounting+Solutions++for+KPOGCL

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    This document provides an overview of a hydrocarbon accounting solution for joint ventures in the upstream oil and gas industry. The key points are: 1) The solution addresses problems with current manual processes such as inconsistent data, redundant data entry, and a lack of integration that can lead to errors and poor visibility. 2) The solution's core modules include joint venture accounting, authorization for expenditure, budgets and forecasts, reporting, fixed assets management, and payroll management. 3) Implementation will focus first on rapid deployment of the core JVA, AFE and financial modules without customization, while additional modules like purchasing and inventory will be customized and integrated in parallel.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    239 views11 pages

    Hydrocarbon Accounting Solutions For KPOGCL

    Uploaded by

    asadnawaz
    This document provides an overview of a hydrocarbon accounting solution for joint ventures in the upstream oil and gas industry. The key points are: 1) The solution addresses problems with current manual processes such as inconsistent data, redundant data entry, and a lack of integration that can lead to errors and poor visibility. 2) The solution's core modules include joint venture accounting, authorization for expenditure, budgets and forecasts, reporting, fixed assets management, and payroll management. 3) Implementation will focus first on rapid deployment of the core JVA, AFE and financial modules without customization, while additional modules like purchasing and inventory will be customized and integrated in parallel.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    of 11

    Hydrocarbon

    Accounting
    KPOGCL
    JV
    Solutions for
    Accounting
    Upstream Oil & Gas

    Solution Brief
    Asad
    George
    Nawaz
    Telford
    Khan
    SVP,
    Project
    International
    Delivery Manager
    Business
    Development

    InfoTech Private
    P2 Energy
    Solutions
    Limited

    Why do we need it?


    Shared master data
    Single source of data
    entry
    Automated
    calculations
    Auditable
    and
    .
    verifiable results
    Based
    on
    industry
    standards
    Open architecture
    Timely availability of
    information

    What is wrong with


    processes?
    Lack of Integration

    current

    Inconsistent master data


    Redundant data entry
    No single source of truth

    Offine calculations
    Inherent errors with excel or
    manual calculations
    Poor historical records
    Errors can lead to financial
    loss or dispute

    Visibility
    Potential improvements may be lost due to lack of
    accurate and consistent information
    Good information is required for proper planning and

    Key Components of our Solution

    Joint Venture Accounting


    Approval for Expenditure
    Budgeting & Forecasting
    JV & AFE Reporting
    AFE & OPEX Dash boards & Ratio
    Calculation
    Periodic Reporting (Monthly, Qtrly, Yearly,
    etc.)
    Fixed Assets Management
    Procurement
    Inventory
    Employee Profile & Organization Definition
    Payroll

    Overall Applications
    Footprint
    REPORTING
    Application & Regulatory

    Maps

    Lease Operating

    LAND

    PRODUCTION

    Lease Data

    Field Operations

    Contracts

    Electronic Data
    Validation
    Volume Allocations

    Domain/Property
    Company Owned Lands

    Supply Planning

    Ad-Hoc Query

    Business Intelligence

    Dashboards

    REVENUE

    FINANCIALS

    Partner Balancing
    Revenue Settlement
    Gas Plant Accounting
    Production Sharing
    Agreements

    Accounts Payable

    Lease Cost

    Terminal Management

    Lease Acquisition

    Well Operations

    Rollups & Changes

    GIS

    Sampling & Analysis

    Reserves Reporting

    RESERVES

    Accounts Receivable
    General Ledger
    Cash Management
    Planning & Budgeting
    Governance & Compliance
    Consolidations &
    Reporting

    Economics & Valuation

    Agreements

    Parties

    HR MGMT
    Employee Life Cycle
    Payroll
    iRecruitment
    Performance
    Management
    Learning Managmenet

    CORE BASE DATA

    Report
    Centers

    Ownership

    DRILL &
    COMPLETION
    Drilling & Workovers
    Completions
    Facilities & Pipelines
    Reclamation
    Well Planning
    Rig Scheduling

    Codes

    Hierarchies

    OTHER
    VERTICALS
    Projects
    Business Intelligence
    Customer Relationship
    Mgmt.
    GRC
    Treasury
    Hyperion Planning
    Others

    ASSETS &
    COSTS
    Authorization for
    Expenditure
    Joint Venture Accounting
    Fixed Assets
    Inventory
    Projects
    Purchasing / Procurement
    Asset Maintenance

    Modules Offered Current


    REPORTING
    Application & Regulatory

    FINANCIALS
    Accounts Payable
    Accounts Receivable
    General Ledger
    Cash Management
    Forecasting & Budgeting
    Consolidations & Reporting

    Ad-Hoc Query

    Dashboards

    ASSETS & COSTS


    Authorization for Expenditure
    Joint Venture Accounting
    AFE / JV Reporting
    Fixed Assets
    Inventory
    Purchasing / Procurement

    EMPLOYEE COST
    HR Foundation
    Payroll Management
    Employee Funds Accounting
    Reporting

    f
    o
    o
    r
    t
    n
    I
    s
    f
    t
    e
    i
    n
    r
    e
    B
    n
    o
    A
    p
    m
    o
    C
    E
    e
    F
    r
    A
    Co
    &
    A
    V
    J

    Joint Venture Accounting


    Recover costs from joint
    venture partners
    Cash Calls
    JIB Invoices and Statements

    Transactions generated

    Allocations
    Payroll Burden
    Utilization
    Overhead

    Tracks Payouts / Cost


    Recovery
    Track gross and net costs

    Authorization For Expenditure


    Track and Monitor
    Projects
    Generate AFEs
    AFE Accruals
    Capitalized Interest and
    Overhead
    Master AFE
    Manage AFE
    Supplements and
    Amendments
    Track gross and net

    JVA / AFE Lifecycle


    AFE
    AFE AFE

    Payab
    les

    Receiva
    bles
    Posted
    to GL

    Journal
    Entries

    3rd
    Applicati
    Party
    ons

    Tr
    Tr
    x
    x Trx

    JVA
    Eligible
    Transacti
    ons

    Process
    ing

    Implementation Methodology
    RAPID / STANDARD IMPLEMENATION (NO CUSTOMIZATION) FOR
    CORE MODULES OF JVA, AFE & FINANCIALS

    REMAINING MODULES WILL BE DONE IN PARALLE AND ANY


    CRITICAL CUSTOMIZATION WILL BE DONE DURING REMAINING
    PROJECT DURATION INCLUDING PURCHASING, INVENTORY,
    PAYROLL AND FUNDS ACCOUNTING

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