What is contractual allocation in SAP IS-OIL - SAP for Oil & Gas?

SAP Term: contractual allocation

• Component: IS-OIL

• Component Name: SAP for Oil & Gas

• Description: Industry Solution Oil The process of determining the working interest contractual split of produced hydrocarbons at the measurement point or at the well completion level.

Smart SAP Assistant

• Key Concepts:
  Contractual Allocation is a feature of the IS-OIL SAP for Oil & Gas component that allows users to allocate contracts to specific customers or suppliers. This feature enables users to track and manage contracts more efficiently, as well as to ensure that the correct contracts are being used for each customer or supplier.
  
  How to Use It:
  To use the Contractual Allocation feature, users must first create a contract in the system. Once the contract is created, users can then assign it to a customer or supplier by selecting the appropriate option from the drop-down menu. The system will then automatically allocate the contract to the selected customer or supplier.
  
  Tips & Tricks:
  When creating a contract, it is important to ensure that all relevant information is included in order to ensure that it is properly allocated. Additionally, it is important to keep track of which contracts are assigned to which customers or suppliers in order to ensure that the correct contracts are being used.
  
  Related Information:
  The Contractual Allocation feature is closely related to other features of the IS-OIL SAP for Oil & Gas component, such as Contract Management and Contract Pricing. Additionally, this feature can be used in conjunction with other features of the system, such as Invoicing and Payment Processing.