SAP joins forces with PetroCore

SAP has announced it has joined PetroCore – the first comprehensive Web site for information exchange in the petroleum exploration and production industry – in a strategic vendor alliance.

As a vendor, SAP will work with Pricewaterhouse Coopers, founder of PetroCore, and site subscribers in the areas of adapter and hosted application development. A Web-based subscription service, PetroCore is designed to dramatically reduce the cost of sharing information among operators and their joint venture partners, royalty interest owners, service companies and regulators by reducing cycle times and improving the quality and timeliness of information exchanged.

The alliance will focus initially on the adapter development around authorisation for expenditure (AFE), joint interest billing (JIB) and check detail exchange (CDEX). ‘Services like PetroCore will allow our customers to implement collaborative business processes that extend ERP integration beyond traditional company boundaries,’ said Roger Rowe, regional industry group director for the SAP Industry Business Sector for Oil and Gas, Raw Materials and Mining. ‘As a part of our overall implementation strategy for, we are working with PetroCore to define the enabling technologies necessary to support seamless collaboration between our customers’ SAP solutions and PetroCore.’

BP Amoco and Chevron are initial subscribers to PetroCore and are using the service during the trial period to exchange upstream joint-venture information that traditionally had been shared through mail, fax, phone and electronic data interchange.

PetroCore ultimately will provide statement exchange, information access and management for interest-owners, online access to audit information, alarms, real-time collaboration, and tools to access historical information across the entire upstream value chain, including land, drilling, division order, marketing, joint venture accounting, revenue accounting and production operations.