Oil & Gas Exploration, Production & CCS Perth, Australia & Cambay Basin, India (9 Countries)

Synergia Energy Ltd (Formerly Oilex)

Global Odoo 15 Enterprise Financial Consolidation, Multi-Jurisdiction Dual Currency Accounting,
Automated 1-Click Excel Macro Integration, and Fiscal-Year Aligned Budget Tracking

9 Countries

Global Operations

AIM: SYN

LSE Publicly Listed

Dual Currency

Statutory & USD Sync

1-Click

Macro Excel Upload

About the Client

About Synergia Energy Ltd (Oilex)

Headquartered in West Perth, Western Australia, Synergia Energy Ltd (formerly known as Oilex Ltd and publicly traded on the London Stock Exchange AIM Market under ticker AIM: SYN) is a global energy company specializing in oil and gas exploration, gas production, and Carbon Capture and Storage (CCS). Synergia’s flagship asset is the onshore Cambay Gas Field in Gujarat, India, focused on tapping high-volume natural gas and condensate reserves to meet India’s accelerating energy demand.

Operating across 9 countries with distinct statutory regulations, local currencies (AUD, INR, GBP, USD), and varying fiscal calendar years (such as July-June in Australia vs. April-March in India), Synergia faced complex financial reporting challenges. Relying on manual Excel consolidation and legacy system data extracts created delay risks and currency revaluation errors. To automate multi-entity consolidation, enable dual-currency reporting, and streamline global budget tracking, Synergia partnered with SerpentCS (Serpent Consulting Services Pvt. Ltd., a global Odoo Gold Partner founded in 2011) to implement a custom financial suite on Odoo 15 Enterprise incorporating automated multi-level consolidation, macro-based Excel upload plugins, liquidity account revaluations, and analytical tag budget controls.

Industry

Oil & Gas Exploration, Production & CCS

Odoo Version

Odoo 15 Enterprise Financial Suite

Location

Perth, Australia & Gujarat, India

Products

Odoo 15 Accounting, Consolidation & Dual Currency

Business Challenges

Challenges Before Odoo

Manual Excel Financial Consolidation

Financial consolidation across 9 international entities was managed manually via Excel spreadsheets, making it time-consuming and error-prone.

Multi-Jurisdiction Fiscal Year Variations

Operating entities ran on conflicting fiscal year calendars (e.g. Australia July-June vs India April-March), complicating global budgeting.

Multi-Currency & Exchange Rate Revaluations

Managing local statutory currencies (AUD, INR, GBP) alongside USD global reporting caused revaluation discrepancies due to rate fluctuations.

Legacy System Data Import Barriers

Project managers relied on legacy software tools, creating data extraction friction and preventing automated integration with core accounting.

Our Solution

How SerpentCS Solved It

SerpentCS deployed an advanced Odoo 15 Enterprise financial accounting architecture engineered specifically for Synergia's multi-national oil & gas operations.

Odoo 15 Enterprise Financial Migration migrated financial operations onto Odoo 15 Enterprise, focusing on multi-entity accounting and consolidation modules.

Multi-Layered Entity & Global Consolidation configured hierarchical financial reporting for seamless aggregation at both country and group levels.

Dual-Currency Accounting & Revaluation Engine customized Odoo to manage local currencies (AUD, INR, GBP) and USD reporting with automated monthly liquidity account revaluation.

Macro-Based 1-Click Excel Data Upload Plugin developed custom Excel templates with ActiveX controls for 1-click accounting data import into Odoo.

Fiscal-Year Aligned Analytical Tag Budgeting utilized Odoo analytical tags to track budgets across varying country fiscal year schedules.

Automated Dual-Currency Financial Statements automated Profit & Loss, Balance Sheet, and Trial Balance generation in local currencies and USD.

Key Implementations

Odoo 15 Financial Suite

Multi-Level Entity Consolidation

Dual-Currency (Local & USD)

Automated Liquidity Revaluation

1-Click Excel Upload Plugin

Analytical Tag Budgeting

Multi-Jurisdiction Compliance

Automated P&L & Balance Sheet

Key Results

Business Impact

Seamless Global Financial Consolidation

Eliminated Excel-based consolidation workarounds, achieving accurate, automated financial aggregation across 9 operating countries.

Enhanced Data Import Efficiency

Automated 1-click Excel macro uploads eliminated manual data entry errors and saved significant operational hours during close cycles.

Robust Dual-Currency Governance

Simplified compliance with local statutory tax rules and LSE AIM global reporting, effectively mitigating currency fluctuation risks.

Precise Fiscal-Year Budget Control

Analytical tag budget tracking aligned with country fiscal calendars provided executive management with total cost oversight.

Smooth Legacy System Transition

Maintained data compatibility during transition, enabling project teams to adopt Odoo Enterprise without operational disruption.

“

Transitioning to Odoo 15 Enterprise with Serpent Consulting Services Pvt. Ltd. revolutionized our global financial operations. Managing 9 countries, dual-currency reporting, and automated consolidation across different fiscal years was handled flawlessly by SerpentCS. They are a world-class ERP implementation partner! "