A COMPARATIVE STUDY OF TRADITIONAL AND ADVANCED ALLOCATION METHODS IN OIL AND GAS INDUSTRY
Abstract
The international oil and gas business functions in a more complicated environment in which proper or correct allocation of hydrocarbons is one of the core factors which determine how effective its operations are, how much is accepted by regulatory requirements and how the revenues are shared with fairness and equity. Hydrocarbon allocation, as a process of the quantitative and systematic allocation of production volumes to different stakeholders to determine equity, adhere to rules, and prepare financial reports, has changed. This change is indicative of the industry shifting under pressure of the need to be transparent, accurate and capable of making decisions in real-time in a period where a minor change in the efficiency of operations is felt in financial terms in a very significant manner.
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