Supporting Serica as it Acquires Assets from BP

Supporting the transition from BP to Serica

On 30 November 2018, Serica took over interests in the Bruce, Keith and Rhum assets. Serica also assumed operatorship of Bruce, Keith and Rhum from BP. Gas is exported via the Frigg pipeline to the St Fergus terminal and liquids exported via the Forties Pipeline System.

As part of the transition, Serica needed to move the Energy Components (EC) based Hydrocarbon Accounting System and associated business processes from BP. Serica engaged Accord to oversee the transition of the Hydrocarbon Accounting business function to ensure that the necessary end-to-end business processes would operate correctly in the Serica environment. Accord worked as part of an integrated team with both the outgoing and incoming operator to manage this area of the transition including:

• Analysis of internal and external data flows, reporting requirements, timelines and obligations and how these would be met both over and post transition;

• Liaison with pipeline operators regarding provision of data, nominations, receipt and validation of allocation reports;

• Shadowing BP staff;

• Analysis of the existing daily & monthly business processes as well as ancillary tool use;

• Definition of Serica HCA business processes including any required modifications to BP processes and tools;

• Coordination with IT application specialists who performed the physical EC application move and reporting technology replacement;

• Planning and executing application, reporting & business process testing;

• Delivery and successful execution of a transition plan.

A focus on the transition of the detailed business processes, rather than just the IT systems, delivered a comprehensive cutover plan and assurance to the incoming operator.

Accord oversaw all aspects of this part of the transition, working with transferring BP staff, external stakeholders, Accord hydrocarbon accountants, IT application consultants, Serica technical vendors and senior Serica management.

As a new North Sea Operator with no readily available internal hydrocarbon accounting function, Serica sought support to deliver production reporting and hydrocarbon accounting for the newly acquired assets. Accord provided the Hydrocarbon Accountant (HA) to work within the Serica team to deliver their commercial obligations.  Accord have provided this resource since transition including backfill during periods of leave.

During transition, the HA worked, on behalf of Serica, with the incumbent BP personnel to ensure all business processes  and systems were modified as necessary and fully tested.  Following transition, the HA  has established streamlined processes and working practices in the new function.  Delivery of the service includes acting as a focal point for all aspects of the allocation process including interaction with a wide range of Serica functions including Commercial, Finance, HSE, Operations and Reservoir Engineering.

Accessing hydrocarbon accounting as a semi-managed service from Accord has delivered a number of benefits for Serica.  Serica have a dedicated Hydrocarbon Accountant working within their organisation, but Accord manage periods of leave or absence from their team of experienced personnel.  

Via this service, Serica can access a range of specialist knowledge provided by the Accord team e.g., system delivery specialists or allocation engineering capacity.