Solution: Hydrocarbon Fiscal Economics

Client: Oil and gas

We were engaged to develop a solution to analyse the financial results of production sharing contracts ("PSC"), as well as to provide automation to some of the financial processes of the unit responsible for managing the hydrocarbon reserves of the country.

We developed the solution on the IBM Cognos TM1 software platform. The users are able to produce reports and analyse financial results for over 100 different PSCs and more than 30 contractors. The solution enables the users to perform sensitivity and scenario analysis based on the different permutations of costs, production volumes and prices affecting different types of PSCs.

Another feature of the solution is that it enables the electronic submission of audited financial reports by contractors. Contractors are able to integrate their systems to the submission templates provided via the solution. The solution also includes an auto-generation capability of documents, reports and letters pertaining to the PSCs.

We also developed a data repository of historical financial results of the PSCs entered into by the corporation since its inception.

Solution: Hydrocarbon Fiscal Economics

Client: Oil & Gas Multinational

We were tasked to upgrade the company's hydrocarbon fiscal economics model. As part of the exercise, we were required to amalgamate the duplicating fiscal models into a single version for internal and external reporting.

Previously, the users were unable to collaborate in calculating the entitlements. Data from various sources had to be manually fed into the respective spreadsheets. Furthermore, the multiple versions of the hydrocarbon fiscal models, even though for differing purposes, had errors and inconsistencies.

The solution that we developed managed to overcome the above challenges. It improved automation by integrating data from production allocation, accounting and pricing systems into the solution.

Users have used the output of the solution for the external reporting, in producing financial statements of the company, as well as for planning purposes. Furthermore, users can perform analytics and 'what-if' scenarios on the solution.

Solution: Hydrocarbon Upstream Planning

Client: Oil & Gas Multinational

We were tasked to build an upstream planning solution. The solution was developed using the IBM Cognos TM1 software platform. The solution enabled users to facilitate data management of the budgeting process, whereby data input is distributed via offline templates and data is aggregated at a centralised level. It also provides a data repository of planning data.

The planning model was developed on a multidimensional platform, whereby users can easily build analytical reports and develop 'what-if' scenarios. We also built in business formula within the solution, resulting in the planning model to be more of a driver based model, so as to gain greater accuracy on the company's projected results.