Transform Carbon Accounting for your Energy Business

Hydrocarbon accounting (HCA), is defined as “the system by which ownership of oil, gas, gas liquids and produced water is determined and tracked from the point of production to a point of sale or discharge”. The terms allocation and production reporting are also commonly used to refer to this function. It has two essential elements. Firstly, gathering and validating flow measurement data in order to establish the definitive record of production from a facility. Secondly, it involves carrying out allocation calculations on the flow measurements to derive quantities that are not measured directly.

Effective hydrocarbon accounting in the oil and gas industry relies on several key principles. First, there should be a centralized database serving as the sole source of production data to prevent conflicting information. Second, data integrity must be maintained through controlled error corrections and version management. Third, transparency and auditability are crucial for verifying sensitive data, necessitating clear explanations and transparency in calculations. Fourth, input data validation, a combination of automatic and manual checks, helps identify and address errors while preventing their recurrence. Finally, an efficient and reliable system is essential to promptly address issues in the continuous daily cycle, saving time and ensuring high-quality results, ultimately reducing costs and enhancing the accuracy of hydrocarbon accounting.

Greenhouse gas reporting is based on the definition of scope 1, 2 and 3 emissions.
Scope 1 are gases emitted directly from the company’s operations, so from gas turbines and diesel engines, for example.
Scope 2 are indirect emissions from producing energy that the company buys for its own use, which is mostly electricity supplies for offices and other buildings.
Scope 3 includes indirect emissions from all other activities in the company’s value chain.
Axis is mainly concerned with scope 1, although it can be used to capture and report scope 2 and 3 as well.

The most important use of emissions data is in helping to reduce emissions and improve environmental performance. Key to this is recording emission events. The goal is to capture every event that led emissions to exceed the target, and to understand the underlying causes. Analysis of this data is a vital part of the drive to continually reduce greenhouse gas emissions.