North Caspian Operating Company (NCOC) is an operating company for the North Caspian Sea Production Sharing Agreement (NCSPSA) and was created in 2009. NCOC is based in Atyrau, Kazakhstan. The agreement includes seven companies consisting of KazMunayGas, Eni, ExxonMobil, Shell, Total S.A. (16.81% each), China National Petroleum Corporation (8.4%) and Inpex (7.56%). The company employed about 2500 personnel.
"We achieved a 33% reduction in workflow execution time and a 12% reduction in operating costs. At the same time, the number of errors decreased by 17%." A. Soltanov, Senior Treasurer NCOC N.V.
Treasury Department Head of NCOC N.V. seeks to optimize the processes within its financial department to enhance efficiency and transparency. The goal is to streamline financial operations, improve budgeting accuracy, and ensure compliance with regulatory requirements. By identifying and eliminating inefficiencies, NCOC aims to achieve cost savings while maintaining rigorous financial controls. This optimization initiative aims to bolster financial decision-making capabilities and support sustainable growth in the challenging energy sector of the Caspian region.
The use of a methodology for calculating criteria for functional efficiency and cost of processes to optimize operations made it possible to accurately assess the cost weight of certain processes and subprocesses in terms of functional utility, as well as accurately identify and eliminate those that generate losses. Using the methodology for calculating criteria, the criteria for assessing and calculating the optimal staffing level of the organizational system found out what the optimal number of employees is required to carry out operations.
Using the method of continuous observation and collection of statistical data on the actions of employees, we collected the necessary base for analysis. Next, we processed it according to the method’s algorithms, calculated the criteria for the functional efficiency of each employee, and also determined the costs of the processes based on the total cost of the costs. As a result, we received an accurate picture of the daily activities of employees, divided into useful, auxiliary and useless operations and a cost estimate for each stage.
It turned out that the loss of working hours is more than 30%, and the current number of employees is capable of doing much more work, subject to changes in the order of their work. After this, we analyzed the process map and made changes to the regulations for performing operations. In addition, thanks to this, we were able to create standards and metrics for each employee, which made the performance assessment and calculation of staff bonuses an objective and dispute-free process.
As a result, we were able to identify the causes and reduce the costs of employee operations by eliminating the cause of losses, without additional investment, only by changing the way operations are performed. In addition, we calculated the optimal number of personnel using the methodology for calculating the optimal staffing level in organization.
We achieved a 33% reduction in workflow execution time and a 12% reduction in operating costs. At the same time, the number of errors decreased by 17%.
Most importantly, the current workflow is now predictable. The manager has precise metrics and standards for performing each stage of work, which will allow me to objectively assess the quality of the work of my subordinates and justify my comments on them.
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