| ADCO
streamlines business processes, increases efficiency with Oracle E-Business
Suite
Posted:
4 May 2003
New web-based system offers ADCO greater decision making
ability
Abu Dhabi, UAE — Oracle Corporation, the
world’s largest enterprise software company, today announced
that the Abu Dhabi Company for Onshore Oil Operations (ADCO) has
successfully upgraded its Oracle Financials software to the current
Web-based version, 11i.
ADCO is using Oracle Financials 11i to streamline its business
processes, improve decision making ability and make the company’s
key financial data accessible online to ADCO’s oil fields
and remote locations, while gaining enhanced control of its finance-related
processes.
ADCO’s upgrade project took just three months to complete
and was completed on time and within budget. Using the web-based
capabilities of Oracle Financials 11i, including Oracle General
Ledger, Oracle Payables, Oracle Assets, and Oracle Financial Analyzer,
the energy leader is now in a position to streamline its financial
decision-making and perform more comprehensive planning and forecasting
functions.
“Our objective was to enhance competitive advantage, and
with Oracle E-Business Suite 11i, all of ADCO’s financial
information is consolidated and available in real-time, which makes
us a more efficient, productive, and knowledge-based organization,”
stated Matar Al Ameri, Finance & Control Manager, ADCO.
He added, “Now ADCO has even greater control over key business
processes, with increased transparency and faster processing and
closing cycles.”
A joint team from ADCO’s finance and information technology
divisions and Oracle Consulting conducted ADCO’s e-business
upgrade. During this process, users of ADCO’s financial system
were trained on the new features of the Oracle E-Business Suite
11i.
With this move, ADCO joins a number of leading Middle East oil
and gas companies who are already enjoying the benefits of Oracle
E-Business Suite 11i – companies like ADMA-OPCO, ZADCO, ADCCAP,
FERTIL, ENOC, EMARAT, ADNOC FOD, Bahrain’s BAPCO and Kuwait’s
KOC.
“Energy leaders such as ADCO are increasingly interested
in reducing costs and maximizing efficiencies to enhance performance
and remain competitive in a fluctuating oil market. ADCO’s
migration to the latest Oracle E-Business Suite software shows the
company’s commitment to improving productivity and increasing
information availability and reducing administrative costs,”
noted Husam Dajani, Vice President of Oracle Middle East.
About ADCO
The Abu Dhabi Company for Onshore Oil Operations (ADCO) operates
onshore and in the shallow coastal water of the Emirate of Abu Dhabi.
The original concession agreement was signed in January 1939 with
Petroleum Development (Trucial Coast).
In 1962, the Company became known as the Abu Dhabi Petroleum Company
Ltd. (ADPC), and in 1979, it became known as the Abu Dhabi Company
for Onshore Oil Operations (ADCO).
About Oracle
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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