Audit for Confidential Oil & Gas Client

At Engsolve, our deep technical expertise and industry insight were critical in representing a major European client during a comprehensive audit of offshore oil and gas assets. The audit focused specifically on flow accounting practices and the allocation of production from a complex, comingled stream originating from multiple offshore fields.

The audit team was composed of a diverse group of highly experienced professionals representing several companies from different countries. These stakeholders were involved in various aspects of upstream and midstream operations, and the audit required close collaboration across national and corporate boundaries. The environment was technically and commercially complex, with multiple operators contributing to and drawing from shared infrastructure.

Engsolve was engaged as the client’s trusted engineering and technical representative, tasked with ensuring that production from the client’s specific assets was being accurately measured, fairly allocated, and transparently reported. Our role was pivotal in scrutinising the methodologies and data used in the flow accounting systems, as well as assessing the reliability and integrity of metering equipment and allocation models.

Our representative worked alongside the broader audit team, challenging assumptions where necessary, asking the right questions, and ensuring that the client’s interests were protected throughout the process. We provided clear, independent technical input and acted as a bridge between the client and other stakeholders, ensuring open communication and data transparency.

Through diligent analysis and effective representation, Engsolve identified several areas where improvements could be made in the allocation process. This led to the correction of discrepancies in the production reporting and ultimately ensured that the client was receiving their rightful share of production from the joint assets.

Outcome

The audit and subsequent flow accounting review led to a reassessment of production allocation, resulting in significant financial savings for the client. Beyond the immediate monetary benefit, the exercise also strengthened the client’s understanding of the asset performance and improved their position in future commercial negotiations.

This engagement highlights Engsolve’s ability to navigate technically challenging environments, manage multi-party interactions, and deliver tangible value to our clients through rigorous engineering and commercial insight.