Egypt’s
first upstream oil company to implement Oracle E-Business Suite
11i
Posted: 31 March 2004
KPC drives down operating costs to fund new exploration
opportunities
Oracle Middle East, a subsidiary of Oracle Corp, the world’s
largest enterprise software company, today announced that Khalda
Petroleum Company (KPC) has become the first upstream oil company
in Egypt to implement the Oracle E-Business Suite, in a concerted
effort to improve business efficiency and offset the high costs
of oil & gas exploration, development and production.
KPC, which has operated in Egypt since 1985, chose modules including
Oracle Projects, Oracle Financials, Oracle Purchasing, and Oracle
Inventory, as well as business intelligence software, to streamline
its back-office functions, centralize procurement, and analyze financial
data
The company, which carries out oil and gas exploration , development
and production at more than seven different sites around the country,
closely examined enterprise resource planning (ERP) offerings from
other vendors, but opted for Oracle’s solutions because they
best matched the requirements for the oil producer’s planned
business growth.
“Over the last five years we have secured a number of new
exploration contracts, which has led to substantial business expansion.
Oil exploration is an extremely costly process and we need systems
in place that can streamline our other, non-core processes, while
at the same time driving down operational costs,” said Khaled
Ghazy, finance manager, KPC.
“We wanted to simplify our procurement operations, as well
as obtaining up-to-date financial data information and projections
for our management team. The Oracle solution proved to be the best
fit for our needs, and came in with a lower total cost of ownership
than the other ERP solutions we evaluated. By automating a majority
of our internal processes, we hope to reduce overhead and operating
expenses and deliver increased profitability,” concluded Ghazy.
More than 60 members of KPC’s 900 strong workforce have already
been trained to use the new software applications, which is now
life for eight months. The implementation was done by Oracle partner
KPMG Egypt.
Oracle’s new strategic alliance with Khalda Petroleum Company
complements its existing partnerships with other regional energy
companies, including Abu Dhabi Company for Onshore Oil Operations
(ADCO), Kuwait Oil Company, ENOC/EPPCO, and ZADCO, said Mr.Atef
Helmy, Managing Director of Oracle Egypt.
About Khalda Petroleum
KPC was established in 1985 as a joint venture company on behalf
of EGPC and Phoenix Resources Inc., since April 2001, Apache Corp
has become the main shareholder and Khalda has been awarded several
concession leases to conduct oil and gas exploration, development
and production in Egypt.
About Oracle Corp
Oracle Corporation is the world's largest enterprise software company.
For more information see www.oracle.com/me
Posted by Richard Price,
Editor Pipeline Magazine
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