15 December 2013
IDC Energy Insights analyzed the hydrocarbon accounting software solutions available on the market for supermajors, large independents, nationals, and LNG and pipeline companies, in the IDC MarketScape Worldwide Hydrocarbon Accounting Software 2013 Vendor Assessment, #EI244538, December 2013.
Tieto's Energy Components (EC) software was found to be the leading solution worldwide.
"Tieto: Heavyweight in HCA"
The IDC MarketScape states that a major strength of EC is that it is capable of addressing accounting and regulatory requirements in multiple regions.
Jill Feblowitz, IDC Energy Insights' VP's vendor assessment of Tieto and Energy Components:
More extensive coverage of North American requirements
It is also stated in the IDC MarketScape that with the release of EC 11 in 2014, the regional configuration is expected to be easier, especially important for the United States and Canada that have complex requirements.
EC 11 will have even more extensive coverage of North American requirements. This is attractive for any global oil and gas company that wants to establish global governance and standardization while still meeting region-specific requirements.
The choice for production data management software
Kåre Lunde, VP, and Head of Industry Sector Oil and gas, Tieto, on the writings in the IDC MarketScape: “We are of course extremely proud of being a leader in this IDC MarketScape. We anticipate our customers to see this as evidence that they already made the right choice when selecting software for oil and gas production data management!”