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Facilitating the accurate and timely processing, reconciliation and auditing of financial transactions
An oil & gas ministry’s finance function has to cope with a large volume of complex transactions, related to various aspects of their upstream to downstream portfolio. From oil sales valuations and entitlements to transportation tariffs, commercial arrangements often need detailed modelling to ensure contractual alignment between parties.
Invoicing, payment processing and reconciliation of data streams (including petroleum production, quality and market data) can combine to place excessive pressure on a finance team.
NPMS Capability
With NPMS, the pressure on a ministry’s finance function and any resulting potential loss of revenue can be remedied through system driven monitoring and management of contractual payment obligations.
As part of the contractual configuration process, commercial terms are also built into NPMS, which allows the technology to compute entitlements, generate invoices, issue notices and reminders, as well as verify processed transactions. The system also supports external auditing initiatives related to transactions, entitlements and cost recovery.
Case Study
Ministry of Natural Resources,
Kurdistan Regional Government-Iraq
The Ministry of Natural Resources of the Kurdistan Regional Government is a government body responsible for the exploration, extraction, utilisation and protection of natural resources in the autonomous Kurdistan Region of Iraq.
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NPMS in Use
2016-present
Commercial Model
Revenue Sharing
