Best practises in field production accounting

Tuesday, 14 April 2009 Read 3614 times
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Abstract.

Problem of exhaustibility of hydrocarbon fuels so actual for Russia as for a country boasting of huge amounts of oil and gas could be solved to a great extent by systematic accounting of natural resources which constitutes a major part of the process of rational subsurface resources use.

Nowadays most Russian companies lack a consolidated tool that could embrace all links of the value chain (from well heads to sales), operate reliable information (including historical data), be regulated by approved standards and be used not only for the purposes of oil produced, but also for gas and water.

As a result, oil and gas producers face the problem of inacceptable level of reliability of data on actual and potential production, poor attention to analysis of operational losses due to downtime, insufficiency and inconsistency of library data on flows, processing and transportation of products as well as of losses of crude oil and products, inaccurate planning of production volumes, lack of standards for capturing and processing data for official reporting, etc. Therefore, operators fail to provide a solution to major practical challenges – 1) management and elimination of operational losses (downtime), 2) allocation of production data for reservoir analysis, 3) preparation of corporate and governmental accounting reports.

International experience proves that comprehensive production control could be achieved by development of target operational model based on best practices in management of production processes in oil and gas companies and implementation of integrated system of hydrocarbon accounting.

Production accounting toolkit operating reliable data enables to organize production control properly, to retrieve comprehensive and systematized information on the company’s assets, and eventually to make appropriate managerial decision aimed at decreasing operational losses and streamlining the production process as a whole.

Biography:

Оmar Itcovici is a Partner in Deloitte, responsible for expanding consulting practice in oil and gas industry.

Omar has over twelve years of experience in oil and gas consulting. He has an extensive experience in working with oil and gas businesses, took part in many successful projects with Russian, Kazakh and international companies. Omar worked on different projects involving various business processes in oil and gas industry, such as gas balance, oilfield operations, equipment maintenance,  oil and gas sales, logistics, joined ventures operations, site construction, drilling, finance, HR, environmental protection.

Omar has developed diverse techniques for consulting projects in oil and gas industry, for example oil site exploitation optimization model and cost per unit optimization for oil sites. His experience also covers secondary oil recovery techniques, high pressure gas deposit exploitation and work in West Siberia, Kazakhstan, Patagonia, Venezuela, Brasilia and Bolivia.

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