Our client is one of the world’s largest investor-owned energy services providers and is on track to becoming the world’s leading power and gas company, with annual sales of just under EUR68 billion and c.81,000 employees. Active in both electricity and gas, they are pursuing an integrated business model across the entire value chain, from power generation and gas production to distribution and customer sales. In terms of gas production, the company has an aggressive target to obtain up to 20% of its gas supplies for the pan-European market from its own production fields. As such, its upstream business undertakes gas extraction from the UK and Norwegian North Sea, with offices in both the UK and Norway. In order to achieve these production targets, the company is investing heavily in its E&P business and now needs to recruit an additional economist for their London office.

INTERESTS IN UKCS

The company has interests in the following fields:

Central North Sea

• 6 Production Assets – from 5-20% interests with up to 7 Partners
• Plus 8 Exploration assets

Southern North Sea

• Operated Producing – 2 assets with c.50% interest:
• Non-Operated Producing - 4 assets:
• Development assets – 5 assets:
• Plus 4 Exploration assets
• 2 Pipeline Systems

Role Profile

Purpose:

UK Economics function includes:

• Financial and economic modelling of investment projects for/within UK
• Supporting and working closely with other UK functions, e.g. Technical, Commercial
• Economic execution of Sales & Transportation Contracts

Key Accountabilities:

Developing Assets

• Project Analysis
• Partner and Operator Evaluation Analysis
• Project Development Option Evaluations e.g. concept selection
• Screening Economics
• Preparation and presentation of economics for internal/external audit and review

Producing Assets

• Management, calculation and implementation of gas contract pricing and transportation and processing tariff model (e.g. if Client own the transport facility and a 3rd party uses it, then Client issue a tariff; if client uses a 3rd party’s facility, they themselves pay a tariff)
• Supporting Commercial Evaluations e.g. GSA Renegotiation, Cost Share, Abandonment liability, Decommissioning provision

Planning

• Supporting Long and medium term planning economics and analysis
• Supporting Quarterly Risk Reporting
• Gas Price analysis

Highly Numerate

Graduate calibre – pref engineering or business qual

• Excellent communications skills – both written and verbal. The successful candidate will be liaising across all levels and disciplines of staff and prepare/present Board papers
• Co-ordination skills – ability to influence others and pull together info e.g. from asset teams into economic analysis and business plan.
• Upstream experience
• Proficient MS Excel user
• Financial and economic modelling skills
• Upstream modelling software experience beneficial but not essential
• UK Upstream Fiscal Regime knowledge advantageous – understanding of DCF
• Understanding of UK Upstream transportation and tariff agreements preferred.

Skills required to competently perform the tasks of the role.

• Analytical
• MS Excel
• Listening
• MS PowerPoint – preparation & delivery
• Numerical
• Problem solving
• Time management
• Team player

If this has stirred an interest for more information, then please email your cv and salary details to Jerry@endeavoursearch.com.