Economist

Our Client is looking for an Economist, on a contract basis, location in Aberdeen.

One of the two senior roles in the team of economists that provide regular full life cycle and incremental economic evaluation and associated analysis to the North Sea Business Unit in relation to pre- development, development and producing assets (and support exploration and A&D activities as and when required).

Apply

Key Responsibilities

  • Work closely with the Senior Economist to drive the CAD process for the UKBU. For allocated Assets, collate data, prepare economic models with supporting documentation and provide variance analysis as part of the bi-annual company life of field production and development asset valuation process. Participate in the reviews with UKBU LT, leading for allocated assets; provide insights/commentary on the analysis, highlight issues requiring decisions; liaise with UKBU Finance team and Group Planning to deliver any supplementary analysis that may be required.
  • For allocated assets, ensure the life of field economic spreadsheet models are maintained and are accurate and auditable for production and development phase asset. Ensure preparation / prepare life of field models in the company’s economic software (currently PEEP).
  • Prepare Development economics for screening and project decision gates. Analyse any Third-Party Business proposals for use of company infrastructure; review any Open book models and propose changes to enhance or protect company position.
  • Conduct ad-hoc economics to aid decision making on Asset issues and provide support and guidance to Asset Managers and the technical teams.
  • Train and mentor new inexperienced recruits to the commercial/economics team, equipping them with the necessary economic analysis skills to be able to provide economic support for the business and underpin their development towards either commercial analyst/advisor or economist roles.
  • Guide and support commercial staff in developing commercial solutions / negotiating positions for any new agreements or amendments to existing agreements. Participate in the company Economic peer review process as requested.
  • Work with Senior Economist and Commercial staff to deliver the OGA Stewardship Survey submission and other regulator input.
  • Support A&D evaluation or Exploration work on an ad-hoc/ as required basis.

Major Challenges

  • Advising asset leaders on how to properly frame problems prior to analysis.
  • Delivering economic evaluations within the specified timeframe; need to be flexible in responding to changes.
  • Ensuring effective management of priorities across a number of teams.
  • Corporate / BU Interface.

 

Financial Accountability and Dimensions

  • Ensure economic analysis outputs delivered meet requirements of the corporate investment guidelines.
  • Provide insight into the key drivers / risks and constraints underpinning the economic analysis and communicate these effectively to management.
  • Understand limitations of analysis performed.
  • Coordinating the support required from the functional teams.

Management Relationships (include direct / indirect reports, external parties)

  • Provide support & guidance to the JV analyst/commercial analyst (part-time economics staff)
  • Functional reporting line to the Chief Economist in London with weekly update telephone meetings.
  • Provide services to line managers (asset managers/ finance/ functional leads in BU).

Education, Qualifications & Experience

  • Educated to degree level in a technical, financial, or other relevant discipline / experience.
  • Experience in the upstream oil and gas industry.
  • Ideally, a comprehensive mix of technical knowledge, business and commercial awareness, and management and analytical skills.
  • A proven track record of providing economic analysis using techniques and software common to the industry.
  • Self-motivated and can track / adapt to changing priorities
  • Highly numerate and analytical. Excellent at problem solving
  • Strong co-ordination skills
  • Professional presentation and communication skills
  • Able to provide mentoring and guidance to junior / external economic staff