READYUpstream

Implementing SAP Technology for Upstream Oil & Gas

Today’s upstream oil & gas companies are looking for new ways to streamline their business to better evaluate new ventures and increase their speed to market. SAP technology can deliver these benefits to energy companies operating in high-risk, capital-intensive environments, yet significant time and resources are needed to implement SAP. The increased complexity of production environments is driving the need to improve access to real-time data and analytics across the value chain. For example, choosing where to invest capital in areas requires the ability to predict future performance based on historical results. Those results across production, maintenance and the supply chain can help to identify sub-par production zones and shift assets to more productive areas that promise a higher return on investment. SAP technology can deliver these benefits to energy companies operating in high-risk, capital-intensive environments.

Oil & gas companies need and are looking for a fixed price solution that meets their requirements. READYUpstream provides Upstream Oil & Gas companies a predictable and proven solution built on S/4HANA and industry-leading practices to jumpstart their SAP implementation efforts.

In addition to the READYUpstream solution that is deployed in the United States, we have expanded our offering to Mexico.  With the new energy reform, E&P companies are entering the Mexican Upstream Oil & Gas market for the first time to seize the new opportunities and untapped reserves.  The complexity of Mexico’s Upstream Oil & Gas market is driving the need for a scalable solution that positions the company for future growth while addressing Mexico’s regulatory requirements.  READYUpstream Mexico is the only SAP certified solution implemented in Mexico and has been successfully deployed on S/4HANA.  You can learn more about our READYUpstream Mexico solution here.

Toward a More Agile, Efficient Future

READYUpstream leverages SAP technology and pre-configured industry templates to:

• Streamline business processes
• Increase efficiency
• Achieve higher levels of system integration

We use the following baseline components to integrate all areas of upstream oil & gas accounting:

• Asset accounting
• Cost accounting and reporting
• Financial accounting and controlling
• Joint venture accounting
• Production management
• Project systems
• Revenue accounting
• Ownership
• Regulatory, Tax & Royalty Reporting

Benefits:

• Increased agility to better respond to market opportunities
• Reduced time and resources required for implementation
• Real-time Lease Operating Statement View
• A scalable platform for growth
• Enhanced Operational Visibility with AFE vs. Field Estimates reporting
• Lower overall cost of operations
• Better profitability and performance management

Accelerate SAP with READYUpstream