Hydrocarbon Production Accounting is facilitated by PDMS, the Production Data Management System. A key component of Industrial IoT (IIoT) for oil & gas services, PDMS enhances your ability to manage your digital oil field through true information management, cloud applications, and digitalization.

PDMS – The Production Data Management System (PDMS) is required to collect, validate, and aggregate field data (production volume and operating parameters), back-allocate production data to wellheads (well completions) and feed processed data through the flow network into RA (Revenue Accounting) daily.

Data Validation and Reconciliation – The critical part of the flow is to validate data at every stage. The underlying PDMS (DCS, Historian) have validation checks on engineering data limits and basic filtering. That includes a quality filter (analog, value, timestamp check) and consistency in units (e.g., USC, SI) and range (e.g., MMSCMD, etc.).

Accounting – The accounting aspects are taken into Revenue, Income, Expenditure, Assets, and Liabilities. We can account for hydrocarbon produced, internal use, hydrocarbon-flared/ re-injected, and sold, with statements generated for internal and external reporting based on well, field, and block-wise.

Report and Forecasting – Based on the current performance analysis (daily allocation of hydrocarbon), future forecasts can be estimated (production forecast numbers). Reporting supports the decision-making process of management. Analyze the profit potential versus definite.

Integrating Digital Manufacturing Processes – Moving from an analog system to a digital system can be a complex process, but with the use of IT outsourcing and a managed service provider, your company will find it much easier to adapt.