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Job title
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Principal Economics
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Grade
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Asset
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E&P
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Function
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Business Development
Department: Planning & Economics
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Location
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Oman – Muscat
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Budget control
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N/A
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Reporting to
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Head Planning & Economics
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Direct Reports
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0
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Job purpose
Manages and executes Economic Evaluation and Valuations to all Upstream Business Development in domains of new Ventures, existing Assets, Business Planning, Finance Interface under Economics and Planning Department, acting as team player/manager and advanced communicator and direct support for the coordination, analyses of data rooms for accurate evaluations, Conduct various economic evaluations methods and assessment techniques and advising/making options, based on economic/technical analyses and investment reviews; in order to support New Ventures, Commercial teams, existing Assets and Business Planning/Strategy departments.
The position will act in accordance with the Group’s Mission, Vision, Values & Strategies, as well as, policies, guidelines, and international standards, supported by OQ IT Technology platform, HSE standards, Omani government & other legal justification, and best international practices in consonance with OQ’s national objectives.
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Main tasks and responsibilities
- Execute and design financial and economic models of assigned projects and valuations.
- Determine and assess valuations and economic viability of new and ongoing investments, including NPV and IRR.
- Lead the analysis of sensitivities to varying assumptions, methodologies and portfolios.
- Review and assure all financial models and analysis prepared internally or externally, providing advice and best practices.
- Execute investment & divestment analyses in synergy with stakeholders from Planning, Finance, Asset departments.
- Prepare financial and economic Proposals for different assets/ companies.
- Analysis of various investment research issues, focusing on macroeconomic trends, market studies, financial markets and their implications for portfolio growth, optimization, asset allocation strategies, and investment advice.
- Prepare economic analyses and valuations write-ups to investment committees and BoD.
- Execute empirical and analytical analysis skills and evaluation methods (deterministic and probabilistic).
- Examine the differences in the economic metrics of various commercial and deals matters such as scenario analyses on net present values (NPVs) for prospects by using the weighted average cost of capital and a modern asset pricing (MAP).
- Conducts economics evaluation (using an NPV model) to determine the overall economic viability of a New Venture and the factors that most impact the economic viability of the resources.
- Evaluate models to rank and screen the New Venture / projects to show the risk contained in oil and gas projects.
- Analyse projects with respect to market, technicalities, and social and environmental impact in an Economic framework and advise and update management on best practices and emerging trends with investment criteria and assessments.
- Manage/coach younger members of the team.
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Key interactions
Internal: Upstream, Corporate
External: Specialized Contractors, Vendors & Suppliers, OIA, EP Partners (local & international), O&G Companies, MEM, MOF
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Notable Working Conditions. Office environment, intensive computer screen use, sporadic visits to operation sites.
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Education requirements
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- Bachelor graduate degree in Petroleum Engineering, Economics, Finance or related
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Language
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Excellent knowledge of written, read, and spoken English (required)
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Background and experience
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Competencies and skills
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- 12+ years of relevant experience.
- Chartered accounting with proven petroleum economics track record is preferred.
- Oil and Gas / Energy industry experience essential.
- Experience with petroleum fiscals and concessionary economics is necessary.
- Demonstrated knowledge of the techno-economic oil and gas industry value chain
- Previous oversight of economics / research / analyst teams
- Experience working in a strategy/economics role in industry or consulting.
- Broad knowledge of finance – corporate / global markets
- Creative strategic thinker complemented by sufficient business acumen, in order to advise and influence leaders across the organization.
- Business plan development and evaluation skills
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Soft:
- Business-oriented mindset
- Strong communication and analytical skills.
- Highly organized, detailed oriented and able to work independently.
- Ability to communicate complex financial and economic concepts to leaders from diverse backgrounds and various stakeholder teams.
Technical:
- Computer Literacy including MS Office
- Ability to perform independent technical / economic analysis into key drivers and simple frameworks
- Ability to translate investment and organizational due diligence risks into structuring alternative.
- Ability to synthesize information quickly, to key takeaways, and to weave insights into a compelling story that clarifies and inspires.
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