Hydrocarbon Accounting

Hydrocarbon accounting services accurately track oil and gas ownership from production to point of sale.

Intertek experts are specialists in independent hydrocarbon accounting services, helping clients realise and protect the value of their hydrocarbons from the point of production to the point of sale.

Hydrocarbon accounting is the process used to track gas and oil ownership from the point of production to the point of sale. Errors and delays in hydrocarbon accounting can result in significant financial loss. It is essential that every effort is made to ensure allocation rules are comprehensive and equitable, that computer systems which execute such rules are correctly programmed, that measurements are accurate, and that reporting is timely.

The US Sarbanes-Oxley Act 2002 requires that companies provide transparency and full auditability of all data with a financial bearing on the company. Feedback from our clients suggests that oil and gas producers are becoming increasingly aware of the value that can be gained by adopting such an approach.

Accurate and timely allocation information provides important benefits:

• Elimination of the errors and bias which could lead to financial loss and costly disputes.
• Enabling cost-effective decisions to be made in every area of operations from reservoir management to production scheduling.
• Helping generate a competitive edge in today’s highly competitive oil and gas markets.
• Demonstrating a commitment to transparent and auditable corporate governance.

For these reasons Intertek services cover every aspect of hydrocarbon accounting. Our consultants operate with a high degree of integrity and independence, with expertise in metering, sampling and analysis, allocation engineering, system development and delivery, outsourcing, auditing, and quality assurance. 

Contact us to see how Intertek can help your organization with Hydrocarbon Accounting.