NSP’s 10-C: A Management Solution for Cost Control and Operational Excellence in Oil and Gas Exploration & Production
NSP's 10-Components management framework is a solution crafted for international Exploration & Production companies. Proven to reduce costs, streamlines operations, and drives efficiency. Our approach sharpens business processes, boosts execution, and ensures financial control at every step.
Explore our services, organized by process stage, below.
01
Corporate Plan and Budget
Provides a structured procedure for the Corporate Strategic Plan and Budget, aligning resources and costs with corporate objectives for each project.
• Enhances resource planning
• Improves cost efficiency
• Reduces risk
• Directly integrates with ERP for automated tracking and forecasting.
02
Asset Plan
Establishes a procedure for aligning asset management strategies with corporate objectives, producing a streamlined Work Program for investment decisions
• Streamlines decision-making
• Aligns asset plans with budgets
• Ensures data consistency across ERP modules
​
03
Authorization for Expenditure (AFE)
Defines a formal AFE procedure for governing capital projects before initiation, supporting executive management and maintaining investment oversight.
• Strengthens governance
• Enhances executive decision-making
• Integrates seamlessly into ERP for transparent tracking of capital expenditures.
04
Project Control
Provides a method for planning, managing, measuring, and reporting on projects through a comprehensive Project Control Plan.
• Improves project tracking and performance metrics
• Supports real-time reporting
• Leverages ERP tools for accurate measurement.
05
Procurement Management
Centralizes procurement procedures for goods and services, aligning with Production Sharing Contracts (PSCs) and ensuring procurement efficiency.
• Streamlines procurement
• Optimizes vendor management
• Effectively manages warehousing and inventory accounting
• Automates purchasing workflows in ERP.
06
Project change Management
Establishes a systematic process for managing and reporting project changes, with rigorous evaluation and integration of approved changes into the baseline plan.
• Mitigates risks associated with scope changes
• Maintains project focus
• Uses ERP change logs for tracking and reporting modifications.
07
Delegation of Authority “DOA”
Delegates enhanced levels of authority to effectively manage and execute the Company’s projects.
• Defines Responsibility, Authority and Accountability
08
Closing, Lessons Learned, and Internal Audit
Defines protocols for project closure, including documentation, performance assessment, and lessons learned for future improvements.
• Enhances knowledge retention
• Strengthens continuous improvement
• Ensures transparent handovers in ERP.
09
Accounting Controls
Establishes a complete set of structured protocols to ensure financial integrity and accurate reporting. This includes defining all core accounting procedures—accruals, petty cash, payroll, prepayments, balance sheet reconciliations, month-end and project reporting, and other essential financial tasks.
• Enhances financial transparency
• Reduces risk of errors
• Supports efficient month-end closings
• Integrated within the ERP system to facilitate streamlined tracking, compliance, and accountability.
10
System Controls & Enhancements
Implements ERP-based controls and enhancements, from master data sanitization to financial reporting and segregation of duties.
• Enhances data integrity
• Improves reporting accuracy
• Optimizes ERP utilization with targeted training and system updates.
