CAIRN – Oil, Gas & Mining – JVA/Demerger Solution

Diligent technology teams partnered with client teams to co-create and implement technical solutions supporting ongoing business strategies. Selecting and evaluating new technologies, defining product development road maps, identifying testing strategies, and implementing to delivery excellence were key components of the successful project. Multiple technologies were involved and end-customer experience was a key priority that was diligently followed resulting in accelerated feature releases and cost savings in terms of on-boarding technical expertise.

An Indian oil and gas exploration and production company, headquartered in Gurgaon, India. It is a subsidiary of Vedanta Resources. Cairn India is one of the largest independent oil and gas exploration and production companies in India. Cairn and its JV partners’ account for more than a fifth of India’s domestic crude oil production.

• Cairn Energy India  was live with JVA module , One of the Asset was sold off,  This has triggered demerger of particular asset in to company code from asset.
• Asset was in consolidated  JVA company and live environment for at least 4 years.
• All historical data and outstanding trial balance was to be migrated in to new company code
• This was part of the legal compliance requirement as part of the demerged asset sale.

• Additional company code was created and trial balance  as on government approval date was moved in to new company code.
• We were responsible for preparation of Data migration strategy for Financial Accounting, Management Accounting & Joint Venture Accounting keeping legal requirements in mind.
• Two round of Data migration rehearsal were carried out before it was taken to live environment.

• Balance Trial Balance at Company code, Joint Venture and Equity Group level.
• No disruption in the live environment and all historical balance were transferred to new company code.
• The legal due date for demerger of assets from Cairn Energy’s India asset has adhered.
• Design Document for the Data Migration & Cut over Execution plan was critical success factor for this project.