I.T.Co. has successfully completed the implementation of a business intelligence system for OAO NOVATEK — Russia’s biggest independent natural gas producer. The system is based on Cognos software products which offer the NOVATEK management the facility for fast retrieval of the Group’s consolidated financial and operational data.
In July 2007 NOVATEK management decided to automate data collection process necessary for compilation of the Management’s discussion and analysis (MD&A) report. I. T. Co. won the tender and was selected as the contractor.
The system developed by combined team of specialists from I. T. Co. and NOVATEK brings a reduction in and optimization of data streams from different company divisions resulting in consolidation and uniformity of available information within an integrated information environment. The new system solves several problems. First, it provides for timely collection of information from all divisions of the company in a strictly unified form. Secondly, it automates the repetitive and labor-intensive source data and reporting parameters processing and coordination at the Group level. Thirdly, the system allows for preparation of presentations on the Company’s operations results in the form of concise visual reports on key indicators for the top management.
The analytical system for development of corporate reports is based on the Cognos Business Intelligence module. The system is intended for use by Senior company management using a web interface to access the preset consolidated reports. The solution provides for interactive creation of analytical reports in spreadsheet and graphical formats using data from the unified data warehouse. Top managers can analyze the data in a variety of analytical dimensions (e.g. subsidiaries, deposits, etc.), and evaluate consolidated indicators of the Group’s operations.
OAO NOVATEK is the biggest independent and second-biggest overall natural gas producer in Russia. Established in 1994, the Company is engaged in exploration, production and processing of natural gas and liquid hydrocarbons. The Company’s core fields and licensed sites are located in the Yamal-Nenets Autonomous Region, the world’s largest natural gas producing region that accounts for over 90% of Russia’s natural gas production and about 20% of the global gas production.
NOVATEK is an open joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in the Russian Exchange System (RTS) and the London Stock Exchange (LSE) under the ticker symbol ’NVTK’ and on the NASDAQ PORTAL System pursuant to Rule 144A GDR under the ticker symbol NVATY.
Further details are available at www.novatek.ru.