Hydrocarbon accounting

Hydrocarbon accounting, which tracks the ownership and management of oil and gas from production to sale, will be essential to ensure that the move towards a digital oilfield really does bring about commercial optimisation. It forms a key component of day-to-day commercial decision making.

Hydrocarbon accounting rules are fundamentally determined by the various commercial agreements that govern the ownership of assets, the operation of facilities and the ownership of produced hydrocarbons and associated losses along the supply chain. The verification and subsequent processing of this data allows operators to apportion ownership and subsequent revenue entitlement to producers and the sales quantities to buyers. It allows joint venture parties to assess (day-to-day) commercial success and it allows buyers of gas to check on their positions and seize market opportunities when they arise.

In addition to managing infrastructure capacity and throughput balance, hydrocarbon accounting satisfies the information requirements of all parties involved. For producers, accurate receipt of forecasted production demand and allocated quantities is vital to maximise delivery from hydrocarbon sources. Buyers can place forward requests for delivery, receive confirmation against contracts as well as reports of final attributed quantities facilitates optimisation of downstream supply portfolios. Of crucial importance is the provision of a comprehensive and auditable data repository which manages data across parties.

Production platform

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Powering the energy business

  • Gerard Veenstra | Enerxis We deliver high quality consultancy services in the energy business. Our experience and in depth industry knowledge enable us to understand the oil and gas business supply chain. We are a specialist in how to manage data in oil and gas, to control your business.

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