Joint venture oil and gas solution

Hitachi Solutions Canada will be launching an oil and gas joint venture solution using Microsoft Dynamics AX 2012. Powered by Vynamics AX, the solution will deliver key functionality needed for oil and gas financial operations, including project and cost centre management, contracts to manage joint interest agreement details, joint venture billing, authorisation for expenditure management, and gross/net reporting to enable companies to manage their end to end joint venture partner billing and cost control processes within one system.

Key features

• Contract management.
• Partner management
• Cost recognition.
• Cost distribution (joint venture splits).
• Joint venture billing (partner billing).
• Cost reversal.
• Authorisation for expenditure.

Comments

Salim Faroukh, VP, Product and Industry Solutions, Hitatchi Solutions Business Solution Group of Hitachi Solutions America said, ‘we are thrilled to be able to offer this solution to our existing and potential clients. Upstream oil and gas companies using or looking to implement Microsoft Dynamics AX will have the joint venture functionality they require with this added module.’

Adapted from press release by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/product-news/06062014/joint_venture_softare_solutions/