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Hydrocarbon Accounting

An Energy Components functionality with modules covering production, transport, sales and revenue.

From hydrocarbon production to delivery  

Energy Components provides a completed integrated solution that keeps track of volumes, ownership, quality, commercial agreements and sales associated with the production of oil and gas.

Features

Energy Components has been the industry's flagship solution for production reporting, allocation, and hydrocarbon accounting.

EC Production

EC Production is the part of Energy Components that follows hydrocarbons from once they leave the reservoir until delivery to an intermediate storage able to be transported to the next location. The main task of EC Production is tracking the quantities of oil and gas produced from each well and aligning those figures with what is finally sold and transported away from the facility

EC Transportation

EC Transport keeps an account of hydrocarbons when they are transported both through pipelines or by vessel cargo ships trucks from the production site to the sales point. EC Transport can cover oil and gas processing terminals which are often integrated into the transport systems. EC Transport also tracks what enters the pipeline at one or more entry points, similarly, it tracks what comes out of the pipeline at one or more exit points.

EC Sales

EC Sales is the part of Energy Components that follows up on how hydrocarbon sales quantities correspond to contractual commitments and pricing. The main task for EC Sales is to track quantities of oil, gas and other liquid sales and to perform any necessary processing of the quantities to make them ready for invoicing purposes that normally follows a monthly or quarterly cycle.

EC Revenue

Once the hydrocarbon sales products have been delivered to the buyer, it is essential to invoice for all sales according to contract terms and who properly account for all revenue from sales this is often referred to as the contract to cash process, likewise, if hydrocarbons are purchased from third parties it is also important to ensure we pay for what we received at the agreed price and that also such purchases are accounted for.

Benefits

Energy components support its customers in their operational decisions, with a resulting increase in production, profitability, and operational excellence. 

Enhance efficiency. Mitigate risk. Improve your bottom line.

From exploration to distribution, Quorum transforms every step of the energy value chain.

value chain inforgraphic

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