Dragon operates a large concession in Turkmenistan but is expanding into international joint ventures and requires additional capabilities in its ERP applications
ESI was engaged to implement P2 Joint Venture Accounting, Authorization for Expenditure and Production Sharing Agreements in parallel with the implementation with Oracle ebs.
Implementation was completed in 2 phases with JV operations going live first and the larger Turkmenistan operation second.
Dragon was able to produce joint venture invoices to bill its partners for their share of costs on a timely basis
Dragon was able to manage AFE budgets and enforce budgetary controls in Oracle applications
Dragon was able to administer its Production Sharing contract without the need for Excel spreadsheets
KOC has issues with back allocations and completes monthly allocations 6 weeks after the end of the month. Additionally, KOC has data quality issues that result in unacceptably high proration factors.
Implemented improved data validation technics and better reporting – improved quality of data
KOC was fully trained on the software and was able to run daily allocations on a current basis and completed monthly back allocation within 2 days of month end
Proration factors were improved to be within acceptable range
TAQA completed an acquisition and had an immediate requirement for Financial and Joint Venture Accounting.
ESI was hired to implement Oracle Financials and P2 Joint Venture Accounting, Authorization for Expenditure and Production Sharing Agreements. Implementation was into an existing instance of Oracle Applications.
Implementation completed and live within 3 months
TAQA was able to produce joint venture invoices to bill its partners for their share of costs on a timely basis
Safer had concerns about the quality of their historical data and wanted to ensure that the future allocation model and the historical model were consistent in order to ensure accurate and reliable historical production trends for reserves evaluation and field development studies.
ESI analyzed historical PVT data to determine problem areas and developed new flash and shrinkage calculation. The new allocation model was developed and all historical data was revised in accordance with the new model.
Better information was available for field development planning
Accurate historical results were available in OFM