PracticeLeague - Legal Technology Solutions

Future-proof your legal team with tech-enabled solutions

Oil and Gas Industry

Comprehensive solution with advanced reminders for upcoming litigation dates and a tracker for complete proceedings synopsis in chronological order.
Efficient coordination and collaboration across all departments including external counsels with automatic assigning of tasks to relevant team/individual.
In-built Notice Management feature to help you track every notice and ensure that the same is assigned to the relevant resources and tracked all across.
Statutory, Regulatory and Internal compliance requirements visible from the Live Compliance Dashboard with progress tracker of all compliances.

Business Challenges

Several aspects of the oil and gas industry—e.g. the capital-intensive nature of the industry, market price volatility, geographic scope of assets and operations, the high-risk nature of exploration and exploitation of natural resources, technology requirements, environmental concerns, downstream brand promotion and protection issues, political sensitivities, scale and diversity of employee base, etc.—give rise to particularly high levels of legal risk for international oil and gas companies.

Oil and gas companies operate with disparate infrastructure in isolated locations around the world including offshore oil rigs. This requires a solution that allows companies to link and foster communication across all facilities and assets within the business in real time. With constantly changing regulations, oil and gas companies are subject to a variety of rules that differ according to the region and type of assets. To comply with this added complexity, companies need solution that enables them to figure out which regulations apply to which facility and assets. Effective compliance demands that companies need to stay updated on the latest regulations, including those specific to each region in which they operate.

Solutions

Oil and gas companies due to the risk of noncompliance can face production delays, cost overruns, unintentional loss of data, and even physical security threats to company assets as a result of malicious activity. The cost of noncompliance and its effect on the business requires companies to rethink their approach to regulatory compliance. Companies now need tools that allow them to respond with agility to market demands while keeping them in compliance and subsequently reducing exposure to noncompliance and risk.

Manage matters including Notices, Litigations, Arbitrations, Intellectual Property, Contracts, etc. and create unique workflows for all matter types.
Track legal spend more effectively with a streamlined approach in creating budgets, invoices while analyzing previous budgeting for creating an improved version for future
Real-time risk monitor to help you review the penalties and other implications for non-compliance. Penalties are automatically measured based on the Corporate Action so that you get an up-to-date value of the damages.

Business Value

Whether it is traversing the rough regulatory waters with the ever-evolving environmental and economic regulations, or the volatile contract nature with suppliers, oil & gas enterprises are highly susceptible to disputes turning into litigation matters. As legal experts in the industry brace themselves for the ever-growing disputes, it is now more than ever imperative to have an efficient matter management in place.

At PracticeLeague, the integrated litigation management platform allows the legal department to create unique workflows for various types of matters and assign them internally or externally with tracking feature on its important dates, status and budget. The all-inclusive legal dashboard enables to search through thousands of matter across various locations, departments, jurisdictions etc. In-house can pull up real-time insights with on-demand reports and analytics matter, status-wise, region, user-wise.

View Related Products


Click here

Connect with us

© 2018 PracticeLeague Legaltech Pvt. Ltd.

Case Study

Our powerful Contract Lifecycle Management solution helped the client in automating the entire journey of contracts from requisition to approvals, drafting, negotiating, vetting, signing, executing, managing and renewing. A single system gives the real time dashboard of every every aspect of all the contracts. It is improbable to miss any opportunity pertaining to business growth and effectiveness of contractual obligations. This has powered the Legal Department to rely on the automation system to do the heavy lifting while focusing on other factors essential for business growth.

The PracticeLeague solution also enables In-house counsels to manage their entire IPR portfolio. From trademarks to copyrights, the Legal Team can keep a track of all important assets and their important dates. Most importantly, it's seamlessly integrated with the Contract Lifecycle and Matter Management system. In short, it's a complete ecosystem to gain momentum in the business.

Automated

Customizable

Integrated

To know how we revolutionized the Media Legal Department contact us