Hydrocarbon accounting is a process used in the oil and gas industry to keep track of the ownership of oil and gas from the production from the ground until delivery to either a storage facility or an export pipeline/vessel. In other words, it is about following the journey of oil and gas from production to sales.
Unlike regular accounting, which mainly deals with a business's financial transactions, hydrocarbon accounting is tracking physical quantities of oil and gas. This is important because it directly affects the share of each partner involved in the extraction process. Hydrocarbon accounting also provides important information that helps with planning production, using assets effectively, and managing finances in the oil and gas industry.
As a leading technology company in the energy sector, Cegal has significantly enhanced its hydrocarbon accounting capabilities with the strategic acquisition of GSES Ltd, known for its deep domain knowledge and experience.
Our EnergyX portfolio offers comprehensive and efficient hydrocarbon accounting and management solutions, empowering energy producers with full control over production and emissions, covering all aspects from field operations to financial transactions.