HOW WE HELP NON-OPERATORS
The Lumos 365 digital platform for Non-Operators enables you to track, monitor and report on your investment, and ensure that the business processes deployed by the Upstream Oil and Gas operator are in line with the Joint Venture agreement.
INCREASING SPEND CONTROL AND COST RECOVERY
We improve your spend control with best-practice processes for everything from delegation of authority to budget checking and contract spend monitoring; while also ensuring cost recovery from Joint Venture partners with cost allocation visibility.
ENSURING COMPLIANCE AND COLLABORATION
We help to ensure compliance with local tax regimes through correct tax code allocations, as well as improving communication and collaboration across different business functions and different locations, and with internal and external stakeholders
RAISING EFFICIENCY
Enabling real-time capture, analysis and reporting of all business-critical data, internal capability building through knowledge management, and automation across business processes, we embed efficiency-raising excellence across your business.
THE ELEMENTS OF OUR NON-OPERATOR SUPPORT
TOPLINE BENEFITS FOR NON-OPERATORS
Enabling you to overcome lack of visibility of your overall business and investments, Lumos 365 provides clear tracking and reporting of cost recovery from Joint Venture partners, while assisting regulatory compliance and minimising risks, disruptions and costs across the value chain.
- GAIN VISIBILITY
- ENSURE COMPLIANCE
- MINIMISE VALUE CHAIN DISRUPTION
- STRENGTHEN CONTROLS
- INCREASE AGILITY AND SCALABILITY
GAIN VISIBILITY
Non-Operators suffer from the use of non-industry finance applications that require extensive manipulation of data. While these applications can be cheaper upfront, they become expensive when management time and manual intervention is taken into consideration. The alternative is highly expensive, complex legacy industry applications. The Lumos 365 platform provides a best-of-breed, finance and reporting solution that is tailored for the Upstream Oil and Gas sector. Lumos 365 Finance provides a customisable Chart of Accounts template and reporting dimensions such as AFE, Bill code, License & Budget Line. Gain the visibility you need of your investments by reporting through our Management Reporting and Analytics module.
ENSURE COMPLIANCE
The license to explore imposes significant contractual obligations on both the non-operator and operator. These relate to Local Content and local tax regulations. A breach of these obligations can result in significant penalties for the Joint Venture company. The Lumos 365 Management Reporting and Analytics module will facilitate clear reporting on operational matters affecting compliance to ensure that cash investments contribute to production not penalties. The Lumos 365 platform will help ensure compliance with regulatory policies, such as Local Content and taxation through correct tax code allocations as part of our standard best practice templates.
MINIMISE VALUE CHAIN DISRUPTION
Often a Non-Operator will transition to an Operator and scale down after divestment. Lumos 365 is a single, modular and scalable platform that eases this transition across the value chain. It enables you to move seamlessly from acquisition through exploration, appraisement, development, operation and trading to divestment and back again. For example, the system can easily be extended from finance, to supply chain and asset management, as you move from exploration to development, to production. This modular approach allows for penalty free up and downscaling in accordance with your current status with minimal to no disruption.
STRENGTHEN CONTROLS
Non-Operators need strong controls that maximise the efficiency of the business processes and help you gain a clear understanding of your business performance through the measurement of key metrics. The Lumos 365 platform benefits from many features such as AFE management, budget checking and contract spend monitoring. It has in-built best of breed workflows to support these activities from a process and productivity perspective. For example, the Lumos 365 Management Reporting and Analytics module provides customisable templates with online, up-to-date key business metrics such as ‘Spend by AFE’ in dashboards and drill down data reports.
INCREASE AGILITY AND SCALABILITY
Volatility drives M&A activity in the market. This requires your Finance and Supply Chain systems to be agile, scalable and free your business from applications and systems that are no longer fit for purpose, cost effective or support your M&A strategy. The Lumos 365 platform provides a single, modular and scalable platform with rapid deployment. The platform can easily be extended from finance, to supply chain and asset management, as you move from exploration to development, to production. This modular approach allows for penalty free up and downscaling in accordance with your strategy with minimal time and business disruption.
TOPLINE BENEFITS FOR NON-OPERATORS
Enabling you to overcome lack of visibility of your overall business and investments, Lumos 365 provides clear tracking and reporting of cost recovery from Joint Venture partners, while assisting regulatory compliance and minimising risks, disruptions and costs across the value chain.
GAIN VISIBILITY
Non-Operators suffer from the use of non-industry finance applications that require extensive manipulation of data. While these applications can be cheaper upfront, they become expensive when management time and manual intervention is taken into consideration. The alternative is highly expensive, complex legacy industry applications. The Lumos 365 platform provides a best-of-breed, finance and reporting solution that is tailored for the Upstream Oil and Gas sector. Lumos 365 Finance provides a customisable Chart of Accounts template and reporting dimensions such as AFE, Bill code, License & Budget Line. Gain the visibility you need of your investments by reporting through our Management Reporting and Analytics module.
ENSURE COMPLIANCE
The license to explore imposes significant contractual obligations on both the non-operator and operator. These relate to Local Content and local tax regulations. A breach of these obligations can result in significant penalties for the Joint Venture company. The Lumos 365 Management Reporting and Analytics module will facilitate clear reporting on operational matters affecting compliance to ensure that cash investments contribute to production not penalties. The Lumos 365 platform will help ensure compliance with regulatory policies, such as Local Content and taxation through correct tax code allocations as part of our standard best practice templates.
MINIMISE VALUE CHAIN DISRUPTION
Often a Non-Operator will transition to an Operator and scale down after divestment. Lumos 365 is a single, modular and scalable platform that eases this transition across the value chain. It enables you to move seamlessly from acquisition through exploration, appraisement, development, operation and trading to divestment and back again. For example, the system can easily be extended from finance, to supply chain and asset management, as you move from exploration to development, to production. This modular approach allows for penalty free up and downscaling in accordance with your current status with minimal to no disruption.
STRENGTHEN CONTROLS
Non-Operators need strong controls that maximise the efficiency of the business processes and help you gain a clear understanding of your business performance through the measurement of key metrics. The Lumos 365 platform benefits from many features such as AFE management, budget checking and contract spend monitoring. It has in-built best of breed workflows to support these activities from a process and productivity perspective. For example, the Lumos 365 Management Reporting and Analytics module provides customisable templates with online, up-to-date key business metrics such as ‘Spend by AFE’ in dashboards and drill down data reports.
INCREASE AGILITY AND SCALABILITY
Volatility drives M&A activity in the market. This requires your Finance and Supply Chain systems to be agile, scalable and free your business from applications and systems that are no longer fit for purpose, cost effective or support your M&A strategy. The Lumos 365 platform provides a single, modular and scalable platform with rapid deployment. The platform can easily be extended from finance, to supply chain and asset management, as you move from exploration to development, to production. This modular approach allows for penalty free up and downscaling in accordance with your strategy with minimal time and business disruption.
HOW OUR CLOUD PLATFORM WORKS
From acquisition to abandonment, the Lumos 365 platform addresses and overcomes the challenges you face at every stage of the value chain. Cutting costs. Maximising efficiency. Extending agility. Our platform powers your business processes, adding more value to your operations.
ACQUIRE
Retrieving critical information from disparate systems with poor connectivity. Structuring financial master data. Extracting reports from acquired assets for analysis. Migrating financial and operational data. Utilising modules designed specifically to meet these challenges, our platform cuts cost, time and risk. MORE
EXPLORE
With a license granted, the need to structure, capture and manage a whole new raft of activities becomes imperative. Our modules create a sound financial supply chain system, laying the foundation for operational excellence moving forward to development and operation. MORE
APPRAISE
Getting a clear picture when spend visibility is poor. Retrieving, collating and exchanging information with third party service companies. Extracting and analysing management reports. It’s time and labour intensive. Our modules enable fast and easy spend tracking and data collaboration. MORE
DEVELOP
Managing significant CAPEX expenditure, JV partners, cost recovery, HSE, budgets and reporting creates the need to extend supply chain functionality to support and optimise the field development plan and sourcing. Our modules do just that, making management straightforward. MORE
OPERATE
This is where the foundations built earlier in the value chain with our platform really drive operational excellence. You gain control, cost recovery and compliance with process optimisation, while improving asset up time and reliability. MORE
TRADE
Poor control, recording and tracking of CAPEX, OPEX and G&A spend. Delayed delivery, poor sourcing, resources wastage and profit leakages. Compromised asset reliability and integrity. Lack of insights to support decision making. Our modules overcome every challenge. MORE
ABANDON
Cost-effective and efficient collation and aggregation of all asset data (contracts, compliance, financial, supply chain and plant) is critical. Our modules bring all this data together to maximise abandonment efficiency, save executive time and support due diligence. MORE
Let's Talk
To fast forward your business processes across the upstream oil and gas value chain, just get in touch.