From initial E&P (Exploration and Production) costs like drilling and Lease Operating Expenses (LOE), including both planned & unplanned maintenance costs for machinery, to skilled labour (well tenders and lease operators), an energy enterprise faces a diverse range of operating expenses. Distilling and treatment costs for midstream operations require complex costing mechanisms for effective and accurate accounting and oil marketing companies must grapple with increasingly intricate cost regulations influenced by ever-shifting global prices and local regulations. Additionally, complex collaborative frameworks with external stakeholders through joint ventures require sophisticated expense-tracking and profit-sharing parameters that must be accurately managed for effective cost control.

Assets in energy enterprises are often scattered geographically. For upstream E&P enterprises, managing operational rigs is central to successful operations. For midstream and downstream operations, maintaining refineries, pipelines, trucks and vehicles is essential for streamlined production and delivery. Efficient Master Data Governance (MDG) is crucial for effective asset management, ensuring downtime reduction and lower meantimes in repair and between failures for optimal asset lifecycle management.

An agile supply chain is vital for a thriving energy enterprise. Managing global supply chains, contractors, and distributors is complex and requires careful management to ensure a consistent and resilient supply chain network. Transportation management operations, like route planning and monitoring, are vital to avoid supply chain disruptions. For midstream and downstream enterprises, streamlined procurement, supplier collaboration and optimized spending management are critical to success.

EHS is a multifaceted domain for mitigating risks and ensuring worker safety and environmental health. High-risk operations like Oil and Gas extraction require energy enterprises to develop and ensure robust safety protocols. Environmental concerns and regulatory compliance like carbon neutrality are additional considerations that enterprises and workers must ensure at all times. Failure in this domain can have significant implications for businesses such as regulatory fines, legal actions, shutdowns, higher insurance premiums, loss of market access and diminished shareholder value.