National oil company upgrade systems generating savings

Case Study22nd Jul 2021


Related services

Our Client 

An overseas national oil company approached AAB following concerns with existing outsourced accounting providers.  

Our Approach 

  • Transition the client’s existing outsourcing arrangement before establishing a secure extranet for invoice approval and data transfer 
  • Upgraded technology to provide a fully outsourced accountancy service which includes monthly management accounts 
  • Carry out all compliance and statutory reporting using AAB E&P expertise 
  • Provide auditor liaison and advice on UK secondments / employment tax issues 
  • Revised procedures on cash management, placing substantial funds on deposit 

 The Outcome 

  • Joint Venture Audit services generating significant savings by identifying incorrect charges to the venture 
  • Peace of mind for the client with the AAB expert E&P team 
  • An improved relationship with the operator through “talking the same language” 
  • Accurate monthly reporting 

Share this page