Zedi Measurement Assurance Program™
Zedi Measurement Assurance Program is an established, multi-phased program that takes the guess work out assessing and ranking risks and implementing a program to reduce these risks. It goes beyond regulatory compliance to ensure maximum value to the bottom line. Zedi Measurement Assurance Program uses a team of experts with extensive measurement experience to help you navigate through your measurement practices to:
- provide the required level of objectivity,
- risk rank and appropriately size assessment work to provide best representation and value, using three specific criteria groupings. Provide a three-year assessment plan,
- complete a comprehensive evaluation of measurement control environment and practices, assessing strength of process and conformance while focusing on creating value -
- Up to 450 control practices are evaluated to ensure maximum return of investment
- Controls are both regulatory requirements and smart industry practices based on collection of recommendations from experts in many fields
- Evidence and responsibilities are documented and a repository is created
- A pre-established structure is used to ensure efficiency of time and cost of evaluation, and completeness of review
- The assessment is linked to ERCB EPAP Themes
- provide regulation clarity,
- create, refer and remediate weaknesses in control practices. Cut costs by reducing redundancy, creating efficiency and transparency and reapplying pre-established practices,
- prepare you with confidence for making your ERCB EPAP declaration.
The value of a strong measurement program extends beyond regulatory compliance and helps operators make better decisions, reduce redundancy, and save costs. Benefits include:
|CEO, CFO||Increased confidence in the quality and accuracy of the data. Protects revenues/reserves.|
|Decreased maintenance costs through exemption/risk management.|
|Production Accountant||Decreased amendments. Corrections within allowable time. Increased royalty certainty. Ability to meet deadlines with volume certainty.|
|Joint ventures (Customers/Partners)||Increased confidence on CO&O. Decreased audit query costs.|
|Divestures/Acquisitions||Asset value certainty.|
|Marketing||Decreased penalties for over/under nominating. Better volume certainty enables better decisions for firm service purchases.|
|Engineering||Certainty of information when trending and making capital decisions.|
|Regulators Ė ERCB, OGC, SIR, etc.||Reduces costs of regulatory deficiencies. Solid reputation with regulators lead to less inspections.|
|Green House Emission Reporting, Carbon Tax Reporting||Reliable, traceable and trackable data available once source.|
|HS&E||Correct H2S determination, flare and vent volume assurance, device maintenance, tools to identify loss of volumes, EPZ determination through measurement assurance.|
|Shareholders||Value Assurance. Protects revenues.|
Zedi Measurement Assurance program is multi-jurisdictional and has application in all producing regions in Canada with the appropriate governing body:
- ERCB, Alberta
- Government of Saskatchewan
- OGC, British Columbia
- Government of Manitoba
- Northwest Territories
Zediís Measurement Assurance Program is supported by a multi-functional team of in-house experts with almost 100 years of combined experience.
- Functional expertise includes measurement, audit, IT asset management, engineering, operations, chart integration and production accounting
- Experience of doing measurement for over 450 producers with 36,000 wells in many jurisdictions
- Established in the oil and gas community for more than 20 years providing long term growth strategies for producers in oil and gas measurement
For more Zedi Measurement Assurance Program information
To better understand how our Measurement Assurance Experts can help you, please contact us.
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