LUKOIL completed introduction of a global planning system based on SAP software solutions, including planning and budgeting modules on all planning horizons, as well as tools for assessment and coordination of investment projects and creation of the LUKOIL Groupâ€™s Investment Program.
The planning system encompasses over 70 LUKOIL Groupâ€™s Russian and foreign plants operating on four continents.
The elaborated system allows 2,000 employees from the Companyâ€™s subsidiaries and the Corporate Center to share a single information space on planning and budgeting using unified samples and algorithms, to assess investment projects feasibility in accordance with the corporate standards and with application of a unified methodology.
Under terms and conditions established by internal regulatory documents of the Company, the system provides for coordination and approval of separate investment projects, investment programs and plant budgets. Unified databank on investment projects, approved plans and budgets serves as the basis for further monitoring of project implementation and operations analysis of the subsidiaries.
Successful implementation of this project became possible due to a centralized approach applied to introduction of information technologies and systems, performed by OOO LUKOIL-INFORM, a single contractor.
The project was implemented as a result of joint efforts of the corporate center, industrial planning and economic departments and the Companyâ€™s subsidiaries.
The introduced system provides qualitatively new opportunities which increase efficiency of the LUKOIL Groupâ€™s investment projects portfolio, helps reduce the time scale for plan and budget preparation, and improves the quality of information used for top-level decision-making.
Application of the global integrated information system will help increase transparency of the Companyâ€™s operations and improve the quality of corporate governance.