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Infor, a business cloud software provider, has announced that oil and gas exploration and production company Lekoil has selected Infor SunSystems and Infor CloudSuite EAM to underpin future growth plans

40388343311 4af453289b cFounded in 2010, Lekoil participates in four assets across Nigeria. (Image source: kees torn/Flickr)

Delivered and supported by Progressive TSL, business solutions consultancy to the energy industry, Infor’s financials and asset management platform will facilitate proactive planning, tighter inventory and tailored reports by the asset.

The financials capabilities will allow faster month-end and integrated purchasing, while the secure cloud-based infrastructure will remove the need for costly hardware and additional in-house IT staff, as well as accelerating deployment.

Founded in 2010, Lekoil participates in four assets across Nigeria: Otakikpo marginal field (in OML11), Ogo field in OPL310, OPL 325 licence situated 50km south of OPL 310, and recently acquired an interest in OPL 276. Against this backdrop, robust, scalable reporting and asset management capabilities were required to integrate and consolidate processes, and support ambitious expansion plans in the coming years.

Lekoil selected Infor SunSystems and Infor CloudSuite EAM based on a strong track record of performance with similar-sized exploration and production companies in Nigeria. Progressive TSL was chosen for its in-depth experience of implementing finance and asset management systems in the region and on-the-ground support with face-to-face client communication. Progressive was able to deploy the Infor solutions on a tight three-month timescale through its flexible oil and gas implementation framework with a staggered rollout.

Frederic Russo, Infor vice-president EAM international, said, “In an asset-intensive sector such as oil and gas, best-in-class asset management capabilities such as those available with Infor EAM not only optimise operational performance through tighter management of the asset lifecycle but enhance production and profitability, helping companies expand market share.”

Lekan Akinyanmi, Lekoil CEO, commented, “Progressive TSL is fully committed to Lekoil, with its team being at our offices throughout every stage of the project. Due to their wide experience in implementing similar solutions in West Africa, we felt we were in safe hands. We are impressed with the outcome and are confident the scalability of the finance and asset management systems will support Lekoil as it continues to grow.”