In August 2013 Petoro awarded a 5 year + 1 year contract 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 contract including SAP hosting and SAP application management. EVRY is 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.
Petoro is 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.