Oil and gas
For operators, contractors and service providers working under framework contracts, service orders and valuations.
How credit sales and purchases work in oil and gas
Everything happens within contracts. The operator signs framework contracts with its contractors, issues service orders and pays the valuations it accepts. The contractor, in turn, buys materials and subcontracts other suppliers with their own terms. At every end there is commercial credit and a large volume of payments.
What takes the most work today
- Contracts, orders, acceptance certificates and valuations scattered across emails and folders.
- Little visibility into how much of each contract has been consumed and what is accepted but unpaid.
- Hundreds of supplier payments every month prepared and reconciled by hand.
- Each contractor's track record that is not documented for the next renewal or tender.
How Fluye makes it easier
Every valuation, within its contract
- Framework contracts with their amounts, rates and term, and every related order.
- Valuations with their evidence and visibility of what is accepted and what is pending collection.
- A track record that backs every renewal and tender.
Contractors and suppliers under control
- Comparative quotes by price, term, track record and score, with an evidence folio of the analysis that backs every purchase.
- Acceptance by work progress, by completed order or by receipt.
- Bulk payments: hundreds of suppliers paid at once through your bank, each one reconciled.
- Operational score for each contractor to decide renewals.
An example
A well-services contractor works under three framework contracts with different operators. Every month it records its valuations in Fluye with evidence of the work and the acceptance certificate the operator gives it, knows how much of each contract has been consumed and how much it has to collect, and its track record is ready for the next renewal. For its own operation, it compares three material suppliers, pays its subcontractors by progress and, at month end, pays its 60 suppliers at once through its bank.
explorePartner insurers and banks will be able to use your operational score to offer you coverage and financing.