Economist (1-year contract)

Found in: beBee S MY - 3 weeks ago

Malaysia Petrofac Full time

Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world’s leading energy companies.

We design, build, manage and maintain infrastructure for our clients. We recruit, reward, and develop our people based on merit regardless of race, nationality, religion, gender, age, sexual orientation, marital status or disability. We value our people and treat everyone who works for or with Petrofac fairly and without discrimination.

The world is re-thinking its energy supply and energy security needs, planning for a phased transition to alternative energy sources. We are here to help our clients meet these evolving energy needs.

This is an exciting time to join us on this journey.

We support flexible working requests and have adopted a hybrid approach for most of our office-based roles. We ask employees to be present in the office at least three days per week.

Are you ready to bring the right energy to Petrofac and help us deliver a better future for everyone?

JOB TITLE: ECONOMIST (1-YEAR CONTRACT)

MAIN PURPOSE OF ROLE:

Responsible for evaluation of petroleum project economics including developing and maintaining financial cum economic model for the company on the existing assets as well as future assets to ensure sound investment decision. Preparation of quarterly forecasts and annual plan. Monitoring Net Income forecast and identifying relevant Net Income levers.

KEY RESPONSIBILITIES:

Economics & Commercial

  • Financial and Economic modelling of investment projects. Provide economic analysis to evaluate feasibility of projects and New Field Development opportunities.Preparation of sensitivity analysis and making recommendations on the economic attractiveness of alternatives. Identify drivers that could significantly enhance project returns.
  • Preparation and presentation of economics for internal/external stakeholders.
  • Develop, maintain, and modify, when necessary, the financial cum economic models of the existing assets and new assets.
  • Supporting Commercial Evaluations e.g. PSC Renegotiation, Cost Share, Abandonment liability, Decommissioning provision.
  • Supporting portfolio analysis and ranking of company’s existing assets.
  • Provide commercial and financial due diligence support to existing activities and projects and new business opportunities as required.
  • Keep abreast of all relevant types of international petroleum fiscal regimes, international financial standards and international tax issues.
  • Supporting and working closely with other departments – Subsurface, Facilities & Project Management, Drilling, New Field Development and Finance teams

Finance & Planning

  • Update economics model on monthly basis to reflect the actuals and provide monthly analysis on the block financial health, with focus on Net Income, projected cashflow forecast and variance analysis.
  • Provide quarterly economics updates, including Net Income levers for submission to Head Office.
  • Provide support into Business Planning and Head Office activities, such as 5 years plan, reserves evaluation, Impairment Test and Investment Report.
  • Supporting long and medium-term planning economics and analysis.

ESSENTIAL QUALIFICATIONS AND SKILLS:

  • Relevant university degree from recognised university or Professional Qualification (either Accounting and Finance or an Engineering degree).
  • Minimum 3 – 5 years’ experience in Oil and Gas industry, with knowledge of PSC/ RSC contractual frameworks and investment analysis methods.
  • In-depth knowledge and experience of financial modelling.
  • Broad understanding of company accounts and tax are essential.
  • Advanced Microsoft Excel skills, with the ability to build/ read macros in Visual Basic.
  • Excellent communication and presentation skills.
  • Ability to work independently and within a team.
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