Principal, Economics and Planning
OQJob Description
Job Purpose
- To serve as the subject matter expert for economic evaluation, acting as team player and direct support for the collection, analysis for accurate evaluations.
- Prepare different economic evaluation scenarios, based on economic / technical analysis and investment reviews.
- Support annual business planning, KPIs monitoring and reporting, stakeholder management.
Main Tasks and Responsibilities
- Conducts economics evaluation (using an NPV model) to determine the overall economic viability of new projects and the factors that most impact the economic viability of the resources.
- Apply advanced discounted cash flow (DCF) methodologies including NPV, IRR, MIRR, profitability index, and payback period. Incorporating fiscal structures (production sharing contracts, cost recovery, profit share splits)
- Provides support to the asset team in operational economics assessment requirements (new wells/workovers/business plan, etc.)
- Lead and present economic analysis with sensitivities to varying assumptions at stage gate review (SGR) sessions.
- Evaluate asset development plans, strategies, growth proposals, and ensure alignment with EPSAs, JOAs, and OQEP’s economic screening criteria.
- Participate in multidisciplinary assessments of expenditure reviews, performance evaluations, business reviews, and economic recovery optimization.
- Support the asset team in annual review of petroleum resources, by running economics evaluation of different development plans.
- Lead annual operated assets business planning cycle, review functions budgets, activities and asset plans and provide feedback prior to management reviews.
- Coordinate and present work program and budget at management reviews, follow up on actions close out and documentation.
- Track and report KPIs and annual plans execution, coordinate reviews to identify performance gaps and work with the functions to explain variances and propose recovery plans.
- Analyse OPEX, CAPEX, lifting costs, production forecasts, activity schedules, and variances versus budget to identify risks, opportunities, and performance drivers.
- Prepare weekly, monthly and quarterly performance reports and other reports as required.
- Represent OQEP in committee meetings with government and JV partners, by coordinating the sessions and presenting KPIs, work program and budget and actions close out.
- Support external communications to MEM and JV partners.
Key Interactions
- Internal: Legal, Finance, Technical, Commercial, Economics & Planning, OQEP Management
- External: Government, Partners
Education Requirements
- Bachelor’s degree in engineering, Finance, Economics, or related field.
Background and Experience
- 10+ years of relevant experience
- Experience in upstream project economics evaluation under EPSA, value drivers, gross margin optimization.
- Experience in Exploration & Production Sharing Agreements (EPSA), and Joint Operat...
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