Upstream Accounting Excellence AS
Fabrikkveien 21
4033 Stavanger ∙ Norway

Our clients

Since 2007, UPAX has provided a wide range of services to 25 different oil & gas companies. The client base ranges from big international companies, which have operated in Norway for many years, to companies newly established in Norway. Our main outsourcing clients are presented below.

   
VNG Norge AS

In December 2015 VNG Norge awarded a 3 year + 2 year + 2 year contract for accounting services to UPAX. The contract period is 2016-2023. Work undertaken by UPAX include the full range of accounting tasks such as joint venture accounting (operated & non-operated), revenue accounting, asset accounting, GL accounting, treasury, AP, AR, payroll and government reporting.

VNG has been present in Norway since 2006. The company is operator of the Pil discovery (PL586), partner in several fields on the Norwegian Continental Shelf, and expect to significantly increase their production in Norway in the coming years.

   
Petoro AS

In August 2013 Petoro awarded a 5 year + 1 yearcontract for accounting services including IT services for SDFI to UPAX. The contract period is 2014-2020. Work undertaken by UPAX include tasks such as joint venture accounting, revenue accounting, treasury, reporting and analysis. UPAX is also responsible for providing IT related services under the contractincluding SAP hosting and SAP application management. EVRYis our subcontractor for the IT related services.

UPAX first started delivering these services to Petoro in 2009, and the new contract is a direct continuation of the 5 year service contract which was entered into at that time.

Petorois the company which mandate is, on behalf of the Norwegian state, to hold the responsibility for the states direct involvement in petroleum activities (SDFI)on the Norwegian Continental Shelf, and business associated herewith.

   
ENGIE E&P Norge AS

In July 2011 UPAX entered into along term contract for accounting services withENGIE E&P Norge. The initial contract period was 5 years (2011-2016). In 2016 the contract was extended to 2018.Work undertaken by UPAX include the full range of accounting tasks such as joint venture accounting (operated & non-operated), revenue accounting, asset accounting,GL accounting, treasury, AP,AR, payroll and government reporting.

ENGIE E&P Norge has been present in Norway since 2001. The company is operator of the Gja field, partner in several fields on the Norwegian Continental Shelf, and the asset portfolio is growing.