Petroleum Economist in London, United Kingdom

at Lloyds Register
Location London, United Kingdom
Date Posted October 30, 2018
Category Petroleum Engineer
Job Type Permanent


Job ID:26603
Location:London : 71 Fenchurch Street (LR_L000111)
Position Category:Energy
Department:GB994028 : Reservoir Services (GB994028)
Position Type:Employee Regular
Education Required:See Job Description
Experience Required:See Job Description
Relocation Provided:No
Provide Petroleum Economics expertise and development capability to Commercial Services projects within the upstream Oil and Gas Consulting business in Lloyd’s Register. Ensure that technical knowledge and expertise is shared across the organisation and with our clients and at an industry level. Your ability to add value is underpinned by your understanding of our clients’ objectives, achieved by establishing close working relationships
As an Economist, you will be skilled in commercial analysis with good problem-solving skills and be able to utilise resources externally. You must have in-depth and understanding of the full cycle of field development with a working knowledge of integrated projects, uncertainty, risk and oil & gas field economics.
In your role you will be expected to develop Petroleum Economics skills within other team members and utilise these skills in a project environment
To ensure that efficient commercial support and analysis is provided to Commercial Services activities, by way of economic modelling and valuation of projects.
Develop and evaluate financial and economic models of investment projects
Attend data rooms to gather licence terms, cost information and sales and marketing data
Prepare and deliver reports and presentations of project evaluations to clients
Prepare timely and accurate economic evaluations and undertake required commercial analysis to support client’s business decisions or bourse reporting requirements
Active in sustaining and building client relationships and winning new business
Active in promoting capability and knowledge in the region through the publishing of technical papers, active membership of leading petroleum organisations, international lectures and representation at the industry’s regional technical forums and supporting others to do so.
Taking a leading role in the integration of commercial analysis engineering with other disciplines
Developing Petroleum Economics skills within the organisation

To be considered
Exceptional attention to detail in ensuring that analyses are stringently quality-checked
Entrepreneurial approach to developing new business offerings to the market
Sound working experience of project economics, and some exposure to tax optimisation
Demonstrable experience in applying economics within the oil & gas industry: estimating capex/opex/tariffs, product price forecasts, farming analysis, Pareto analysis, ELT, etc
Knowledge of how to mine data on costs and product price
Economic modelling incorporating uncertainty and risk: decision trees, Monte Carlo simulation, EMV
Experience of the major fiscal regimes used in the oil industry: PSC, Concession
Knowledge of Gas Sales Agreements
Sound grasp of economic principles (NPV, IRR, RoCE, PIR, Exposure, Payback, DCF, etc.) together with associated computation necessary to determine same
Computer literate – working experience in Microsoft Excel is essential
Can prepare clear, well-written reports in English languages
Can quickly grasp key aspects of commercial agreements governing day to day operations, existing / proposed satellite tie-ins (including tariff computation / opex share analysis, etc) / decommissioning security computation, etc
Basic understanding of commercial law and / or finance would be advantageous
Advanced University Degree in a Technical Discipline, Economics, MBA or similar

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