Joint venture accounting within the Upstream Oil & Gas sector often overwhelms the existing core finance function. By deploying our sector-specific application, your accounting system is supported by integrated data. By streamlining approval and billing workflows, stakeholders can be assured that figures are accurate and recovery is efficient.
EnergyFlow Joint Venture (JV) Accounting and Cutback Automation is a fully configurable system which can be molded to your individual business needs.
Users define partner share and automate cost allocations based on rules defined for each JV project.
Automated processes then control adjustments and keep allocations accurate throughout the cutback process.
We also enable users to set the cap-out value, the carry amount, still enabling ownership and equity changes.
The system’s easy-to-use web-based reporting capabilities provide a full audit trail of all transactions allowing users to track every detail in real time.
This in turn enables fast and accurate reporting to partners and generation of JV billing statements following approval.
Streamlined workflows save time and speed up cost recovery.
JV billing statements and invoices are generated by the system, following automated user-defined approval processes before release.
What our clients say...
Hurricane Energy is an E&P focused on UKCS fractured basement exploration and development. The organisation is a new generation of oil company that exists to discover, appraise and develop oil from fractured basement reservoirs.