Petroleum Africa
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Friday, September 13, 2019
Maurel & Prom have contracted Progressive TSL’s specialist team to implement finance and asset management solutions underpinned by Progressive TSL’s oil and gas framework to support their company’s plans for growth.
Maurel & Prom has a portfolio of high-potential assets located in Africa and Latin America. The group also holds a significant stake in SEPLAT, one of the leading oil and gas operators in Nigeria. According to Progressive TSL’s Maurel & Prom recognized that their existing, highly bespoke accounting system could not support their plans for growing the business.
Critical criteria for their new system includes a future-proofed standard solution that was flexible to configure, enabling rapid implementation and easy roll out to new acquisitions. A system that is easy to use by all in the Maurel & Prom team, rather than relying on the specialist knowledge of specific individuals in the internal team.
Progressive TSL’s proposed implementation of Infor SunSystems, Infor EAM (Enterprise Asset Management), Infor OS (IOS) and the Unity integration suite met all these criteria.
“Sun Systems is a standard solution for mid-sized E&P companies. Progressive TSL has had vast experience implementing Infor SunSystems at other companies in our sector, including our partners SEPLAT.”
Said Patrick Deygas, CFO for Maurel & Prom. He added, “With Progressive TSL, we are not starting from scratch. We have benefited from their best practice frameworks, tailored to our industry, to support key aspects of our business, such as Joint Venture Accounting and Profit Sharing. They understand the nuances of the accounting standards in the regions we trade. Progressive are of a compatible size to Maurel & Prom and are able to work alongside our team in Paris providing hands-on support during the implementation.”
Chris Walcot, CEO for Progressive TSL commented, “We are really excited to have the opportunity to work with the Maurel & Prom team on this project both in Paris and on the ground in Africa. With the Progressive’s track record of successfully delivering systems underpinned by best practice oil and gas processes I am confident that Maurel & Prom’s new systems will help reinforce the company’s future ambitions.”
Progressive’s 12-month implementation of the Infor centered solution is planned to go live at the end of 2019. This first stage will cover Maurel & Prom’s operations in Paris, Gabon and Tanzania, and their drilling subsidiary Caroil, in one single integrated system. There are also plans to roll out this solution to other countries within Maurel & Prom’s portfolio in Africa, North and Latin America.
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