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ENERGY NEWS

 
     
 

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.

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Posted by Richard Price, Editor EnergyME.com

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