You deserve better: the future of Hydrocarbon Accounting

Moving from the traditional hydrocarbon accounting system

Just like other parts of your business, Hydrocarbon Accounting (HCA) is more efficient and produces better results when tailored to your requirements. However, with a traditional hydrocarbon accounting system like Energy Components, these customisations present users with problems right from the start. Implementation requires a team of developers and technology experts.

These same highly skilled individuals are required every time a change is needed or the software requires an upgrade. When you have to ask Accenture to do the upgrade for you then you know that you’re in trouble! This type of customisation means that you have lost the benefits of a product and there’s no clear separation between the core software and your solution.

How to fix it

This is not simply a problem with production reporting and hydrocarbon accounting. It is a pattern repeated across the oil and gas sector. There is a pressing need to build modern platforms that can deliver real economies of scale rather than the lumbering, complex one-off solutions of the past.

None of these problems exist when you use subscription-based, cloud-native solutions. You don’t have to spend money on hardware or infrastructure, or on database administrators and IT teams. Installation is quick and easy and upgrades are included as part of your annual subscription. This keeps you and your colleagues around the world on the same and best version of the software. Use of open standards ensures better access to better data, improving reporting and the ability for you and your team to make better business decisions.

Power in the hands of the business users

Hydrocarbon accounting and production reporting should, to the maximum extent possible, be managed by the business. We think of hydrocarbon accounting as a service, rather than as a piece of software. We do this using the cloud to help you free up finances and resources in a way that traditional systems cannot. Paying for hydrocarbon accounting as a service offers greater value and frees up your team to focus on what they should be doing.

Cloud-native applications, like EnergySys, use multi-tenancy and shared infrastructure to offer savings that cannot be made with standalone systems. An added benefit is that it comes with complete security of data. Feature development occurs more quickly and is delivered to all customers at the same time.

The EnergySys hydrocarbon accounting system

A hydrocarbon accounting system such as EnergySys is delivered in the browser. It’s possible for a business user to set up and manage their system with only a few days of training. When it comes to reporting, use of open data standards means that tools like Excel and PowerBI is used to generate dashboards and ad-hoc reports quickly.

[Energy Components is a trademark of Tieto AS]

Find out more

Find out why oil and gas companies across the world are using the revolutionary EnergySys Cloud Platform for production allocation and reporting.