The current situation is too often characterized by fragmented and scattered islands of information with little if any end-to-end integration. There is rarely any clear and consistent information management practice, and companies often lack proper data reconciliation processes across the supply chain, resulting in inconsistent data and incorrect use of data. Almost everywhere there is a “spreadsheetmania” - an uncontrolled proliferation of spreadsheets for managing vital business information. Without proper access control, with no audit tracking and hardly any transparency.
We are on a mission to change this. The oil and gas industry will never be the same after Hytracc.
And the industry wants to change. Operational staff wants better solutions to support them, reservoir engineers wants more reliable information, sales personnel more precise view of what is available for sales. Customers want more insight in oil and gas deliveries. Management needs more timely and consistent information and JV partners need more up-to-date information. Government and regulators request more accurate information on production, injection, emissions, discharges and environmental impact. Even our society demands and expects us to have full control of what we are doing.
There is no other way but to change the way things are today. We need to implement better controls, better work processes and better IT-systems. But most importantly, we need to establish better industry practices. We need a proper hydrocarbon accounting practice. Just like managing money resulted in a financial accounting practice some 500 years ago, managing hydrocarbons demands a hydrocarbon accounting practice. Now! This is the mission of Hytracc.