Senior Economist - London
Organisational context and job purpose
INEOS Oil & Gas UK (“IOG UK”) is a fully integrated exploration and production company focused on upstream operations in the Southern North Sea and West of Shetland. IOG UK also manages INEOS’ onshore shale and upstream services businesses. Our business purpose is the responsible, reliable, long-term extraction of hydrocarbons and our strengths include our know-how, extensive geological and technological experience and our commitment to research and development. IOG UK is aligned with INEOS Oil & Gas Scandinavia which holds assets in Norway and Denmark.
The role will provide exposure to a wide range of commercial activities and experiences. The primary objective will be acting as the senior economics team member in running, and overseeing the running of, asset economics in support of value decision making.
The jobholder will interface with other disciplines within IOG UK (Finance, Operations, and Subsurface) and with external counterparties, including JV Partners and Gas Buyers. In addition they will be the main point of contact for the IOG UK Board of Directors on analytical matters.
Responsibilities and Accountabilities
- Provide asset economic evaluations for existing assets for the purpose of evaluating development options and incremental investments, developing long-term strategies for the assets and optimising late-life aspects
- Provide exploration/business development economics in support of farm-ins, Licence Rounds and other exploration and appraisal activity
- Provide analytical input to the commercial advisors in support of commercial negotiations and market intelligence activities, including industry research using tools such as Wood Mackenzie
- Provide support to corporate M&A activity, including financial analysis of acquisition opportunities, summarising and reporting with the M&A team to support decision making, and discussion with shareholders
- Lead the Long-term Corporate Planning Modelling activities, including portfolio analysis.
- Support the Finance function with respect to impairment testing and planning processes
- Be the main focal point for the IOG UK Board of Directors on analytical matters
- Ensure the economic spreadsheet models, systems and processes are maintained, updated and remain robust, including leading further development of these where necessary
- Provide mentoring and support to the more junior Commercial Analyst and oversee their work to ensure high quality analysis is always delivered
- Liaise with Asset Managers and interface across other disciplines within IOG UK (Finance, Operations and Subsurface) to ensure economics processes are well understood and ensure that the relevant inputs are provided and understood
- Present economic analysis to JV Partners in Operating Committee Meetings and the IOG UK Board of Directors
- Provide cover for other members of the commercial team, including day-to-day commercial operations aspects, such as issuing gas sales nominations
Skills & Knowledge Required
- Undergraduate degree in science, business or economics and relevant commercial experience
- Exposure to financial models providing asset analysis, including exposure to the upstream activities within the energy industry
- Previous experience participating in company/financial planning processes
- A management or financial professional qualification is preferable but isn’t essential.
- Previous experience of working within upstream economics is essential.
- Have a structured, well-organised and enthusiastic approach to work
- Able to work under time pressure and deliver a reasoned outcome both autonomously and collectively
- Strong communication skills both written and verbal
- Team player – able to develop good working relationships to maximise effectiveness
- Composed and clear in analysis when presenting to senior management
How to Apply
Interested candidates should submit their CV to: IOGUK.email@example.com. Deadline for applications is Friday 31st January.