At various stages during the extraction, transportation, refining, storage and distribution of petroleum and its products, there are requirements to measure its quantity and quality and undertake allocation, custody transfer and fiscal activities, as well as stock control and loss prevention. We call this process Hydrocarbon Value Realisation (HVR).
Done well, HVR can offer significant cost savings for the operator and assist in reducing environmental impact.
Our 2013 ‘Challenges in Hydrocarbon Accounting‘ Survey results showed recognition for the value of Hydrocarbon Value Realisation across the wider industry was not as great as it could be. Those that worked in the sector felt they could make a difference but weren’t able to. They were undervalued and restricted by bad software, poor processes and inaccurate data.
The industry has changed a lot since the findings of that survey, but has the opinion and recognition of HVR improved?
Help us build an actionable report on the state of play in HVR
We’ll take your insights and create a report with actionable data that you can use to improve support, funding and awareness within your own company for this crucial function of a competitive oil and gas company.