Job Summary
The Petroleum Economist in the Business Development Group will play a vital role in supporting the economic & fiscal analysis for partnership opportunities within KOC. This role focuses on evaluating assets, conducting economic benchmarking, & providing critical support in the development of fiscal & economic models that inform strategic decisions. The Petroleum Economist will collaborate with internal Teams throughout the pre-tender, negotiation, & contract award stages, offering insights into fiscal parameters, contract terms, & economic performance.
Working closely with Business Development counterparts, the Petroleum Economist will contribute to the drafting & analysis of T&Cs, assess the financial impact of amendments, & ensure partnership compliance with economic standards. The role also involves continuous monitoring of market trends, conducting sensitivity analyses,
& refining economic models to reflect the latest data & industry changes. Through rigorous data analysis & scenario modeling, the Petroleum Economist helps optimise partner & State take, enhancing the KOC’s ability to secure valuable, long-term partnerships.
The ideal candidate will have a strong background in economic modeling within the oil & gas industry, a keen analytical mindset, & proficiency with industry-standard tools. This role offers an opportunity to contribute significantly to the company's strategic growth through economic evaluation & fiscal expertise.
Role & Responsibilities
- Assist in benchmarking & ranking economically shortlisted assets based on standard T&Cs to support the selection of optimal partnership opportunities.
- Conduct economic analyses & runs to aid in the asset review & selection process, providing insights to guide decision-making.
- Collaborate in designing & refining fiscal & economic models for contracts, ensuring they align with different partnership structures.
- Assist in gathering & analysing market, economic, & fiscal data to support modeling assumptions & ensure the accuracy of economic forecasts.
- Model fiscal parameters based on contract type, supporting calculations &
optimisation of State & partner take as needed.
- Regularly update &refine economic & fiscal models to incorporate the latest partnership performance data & changing market conditions.
- Conduct scenario & sensitivity analyses to test the robustness of fiscal & economic models under varying market conditions.
- Utilise industry-standard economic modeling software (e.g., Merak Peep, Palantir, or similar tools) to conduct economic analyses &maintain models.
- Prepare detailed reports & documentation summarizing economic analyses, assumptions, & results for internal stakeholders.
- Monitor & report on industry trends, including fiscal & regulatory changes in relevant markets, to inform economic & fiscal modeling practices.
- Provide economic & fiscal input during the pre-tender stage, helping to shape favorable contract terms.
- Contribute to risk assessments related to fiscal & economic terms, identifying potential economic risks & advising on mitigation strategies.
- Assist in the evaluation of fiscal & economic clauses during tender negotiations, contributing to the ranking of bidders for contract awards.
- Support the drafting of T&Cs by providing economic & fiscal perspectives, ensuring terms are well-aligned with financial objectives.
- Support the implementation of T&Cs as required.
- Oversee that partnership economic performance complies with the contract clauses, acting as a point of contact for economic aspects of contract amendments, renewals, & relinquishments.
- Analyse the impact of any proposed T&Cs amendments on partnership economics, providing recommendations as needed.
- Conduct peer reviews of economic & fiscal models, capturing lessons learned &
refining methodologies.
- Continuously update & improve fiscal models & economic frameworks to reflect evolving industry practices& insights from past partnerships.
Serve as a key advisor to internal stakeholders, providing economic insights & forecasts that support strategic decision-making. Coordinate closely with business development and regulation to ensure alignment on economic terms & compliance with regulatory & financial objectives
Knowledge & Experience
Educational Qualifications:
Essential: Economics or Finance degree from a reputable institution.
Preferred: Master’s Degree in Petroleum Economics, Energy Economics, Finance, or a related field is highly preferred.
Professional Experience:
Minimum 10+ years of experience in petroleum economics, finance, or a related field, with a substantial focus on the oil & gas sector.
Additional Requirements
- Proven track record in economic & fiscal modeling for oil & gas assets, including experience working with various contract types such as Production Sharing Agreements, Joint Ventures, or Concessions.
- Experience in asset evaluation & economic analysis, including benchmarking, ranking, & conducting sensitivity analyses.
- Strong familiarity with contract terms & fiscal parameters specific to the oil & gas industry, including knowledge of partner & State take optimisation.
- Proficiency in industry-standard modeling tools (e.g., Merak Peep, Palantir), with a solid grasp of data collection, analysis, and reporting.
- Experience preparing stakeholder reports & presenting economic findings &
recommendations clearly to non-technical audiences.