KPC, which has operated in Egypt since 1985, chose modules including Oracle Projects, Oracle Financials, Oracle Purchasing, and Oracle Inventory, as well as business intelligence software, to streamline its back-office functions, centralize procurement, and analyze financial data.
The company, which carries out oil and gas exploration , development and production at more than seven different sites around the country, closely examined enterprise resource planning (ERP) offerings from other vendors, but opted for Oracle's solutions because they best matched the requirements for the oil producer's planned business growth.
"Over the last five years we have secured a number of new exploration contracts, which has led to substantial business expansion. Oil exploration is an extremely costly process and we need systems in place that can streamline our other, non-core processes, while at the same time driving down operational costs," said Khaled Ghazy, finance manager, KPC.
"We wanted to simplify our procurement operations, as well as obtaining up-to-date financial data information and projections for our management team. The Oracle solution proved to be the best fit for our needs, and came in with a lower total cost of ownership than the other ERP solutions we evaluated. By automating a majority of our internal processes, we hope to reduce overhead and operating expenses and deliver increased profitability," concluded Ghazy.
More than 60 members of KPC's 900 strong workforce have already been trained to use the new software applications, which is now life for eight months. The implementation was done by Oracle partner KPMG Egypt.
Oracle's new strategic alliance with Khalda Petroleum Company complements its existing partnerships with other regional energy companies, including Abu Dhabi Company for Onshore Oil Operations (ADCO), Kuwait Oil Company, ENOC/EPPCO, and ZADCO. , said Mr.Atef Helmy, Managing Director of Oracle Egypt.
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Khalda Petroleum Company (KPC) becomes Egypt's first upstream oil company to implement Oracle E-Business Suite 11i
- Egypt: Wednesday, March 31 - 2004 at 12:22
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Oracle Middle East, a subsidiary of Oracle Corp. (Nasdaq: ORCL), the world's largest enterprise software company, today announced that Khalda Petroleum Company (KPC) has become the first upstream oil company in Egypt to implement the Oracle E-Business Suite, in a concerted effort to improve business efficiency and offset the high costs of oil & gas exploration, development and production.
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Posted by Anne-Birte Stensgaard, Senior News EditorWednesday, March 31 - 2004 at 12:22 UAE local time (GMT+4)
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This article was updated on Wed Mar 28 2007.
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About Khalda Petroleum.
KPC was established in 1985 as a joint venture company on behalf of EGPC and Phoenix Resources Inc., since April 2001, Apache Corp has become the main shareholder and Khalda has been awarded several concession leases to conduct oil and gas exploration, development and production in Egypt.
About Oracle Corp.
Oracle Corporation is the world's largest enterprise software company. For more information about Oracle in the Middle East, please contact Bahaa Issa on +9714 390 9000.
Trademarks
Oracle is a registered trademark of Oracle Corporation.
KPC was established in 1985 as a joint venture company on behalf of EGPC and Phoenix Resources Inc., since April 2001, Apache Corp has become the main shareholder and Khalda has been awarded several concession leases to conduct oil and gas exploration, development and production in Egypt.
About Oracle Corp.
Oracle Corporation is the world's largest enterprise software company. For more information about Oracle in the Middle East, please contact Bahaa Issa on +9714 390 9000.
Trademarks
Oracle is a registered trademark of Oracle Corporation.
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