P2 Energy Solutions (P2ES) has now completed the automation of monthly fiscal allocations for BP’s deepwater Gulf of Mexico operations, leveraging its Enterprise Upstream (EU) package and reports improved operational decision making and ‘bottom-line’ results from production optimization. BP’s EU volume management implementation began in 2005 (OITJ Vol. 10 N° 2).
P2ES’ EU Production Management, now fully deployed as BP’s ‘Master Allocation Database,’ has streamlined monthly allocations and improved accuracy and reliability. This in turn has led to increased integration and reliance on the allocation results as a significant amount of statement errors were identified and corrected.
P2ES argues that transforming allocations from an ‘after-the-fact’ accounting function to a proactive operation tool has improved BP’s operations. EU’s latest module, the Allocation Processing Model (APM) allows fine-tuned operational decisions and measurement accuracy through statistically controlled processes.
P2ES senior VP Mark Eikermann said, ‘The decreases in setup and maintenance have provided a uniform framework for all of BP’s allocation. The daily model concept is an innovation in the management of complex allocations leveraging the strengths of Enterprise Upstream.’ APM offers accurate distribution of production, revenue and processing costs between joint venture partners and third-party producers for commingled production across shared platforms, spars and facilities.
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