Cloud-Based Financials and Asset Management Solution to Streamline Reporting and Reduce Costs at Africa-Based Oil & Gas Exploration Company

 Infor, a global leader in business cloud software specialised by industry, announced that oil and gas exploration and production company Lekoil has selected Infor SunSystems and Infor CloudSuite EAM to underpin future growth plans. Delivered and supported by Progressive TSL, business solutions consultancy to the energy industry, Infor’s financials and asset management platform will facilitate proactive planning, tighter inventory and tailored reports by asset. The financials capabilities will allow faster month-end and integrated purchasing, while the secure cloud-based infrasctructure will remove the need for costly hardware and additional in-house IT staff, as well as accelerating deployment.

Founded in 2010, Lekoil partipipates in four assets across Nigeria: Otakikpo marginal field (in OML11), Ogo field in OPL310, OPL 325 licence situated 50km south of OPL 310, and recently acquired interest in OPL 276. Against this backdrop, robust, scalable reporting and asset management capabilities were required to integrate and consolidate processes, and support ambitious expansion plans in the coming years.

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Lekoil selected Infor SunSystems and Infor CloudSuite EAM based on a strong track record of performance with similar-sized exploration and production companies in Nigeria. Progressive TSL was chosen for its in-depth experience of implementing finance and asset management systems in the region, and on-the-ground support with face-to-face client communication. Progressive was able to deploy the Infor solutions on a tight three-month timescale through its flexible oil and gas implementation framework with a staggered rollout.

“Our relationship with Progressive TSL really is a testament to our partnership strategy, which is designed to deliver micro-vertical expertise with the ability to scale,” comments Frederic Russo, Infor vice president EAM international. “In an asset intensive sector such as oil and gas, best-in-class asset management capabilities such as those available with Infor EAM not only optimise operational performance through tighter management of the asset lifecycle, but enhance production and profitability, helping companies expand market share.”

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“Progressive TSL has delivered the implementation of the finance and procurement system for Lekoil in the promised timeframe,” says Lekan Akinyanmi, Lekoil CEO. “Progressive TSL is fully committed to Lekoil, with its team being at our offices throughout every stage of the project. Due to their wide experience in implementing similar solutions in West Africa, we felt we were in safe hands. We are impressed with the outcome and are confident the scalability of the finance and asset management systems will support Lekoil as it continues to grow.”

“It’s great to see Lekoil going live with finance and procurement so quickly,” says Progressive TSL CEO Chris Walcot. “This is a great foundation for the company and its ambitious plans for the future. We look forward to the next phase of the rollout.”

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