Accenture is set to acquire Hytracc Consulting that implements hydrocarbon production data management and accounting solutions for oil and gas companies.
Accenture did not share financial details of the deal.
Hytracc Consulting solutions assist oil and gas companies to track and record production volumes and revenues accurately from production to processing, transport, sales and revenue recognition.
The acquisition of Hytracc Consulting, which has operations in six countries, will expand Accenture’s upstream production management solutions and services portfolio.
“Hytracc’s skills together with Accenture’s technology and production management capabilities will offer a powerful combination to oil and gas companies seeking to increase rigor and accountability in hydrocarbon accounting solution deployment,” said Andrew Smart, energy industry managing director for Accenture.
As per the transaction, Hytracc will operate within Accenture’s Resources operating group, complementing Accenture’s upstream production management solutions, including hydrocarbon and revenue accounting outsourcing services.