Petroleum Economist

Saudi Aramco

Company: Saudi Aramco
Skills: Financial Analyst
Experience: 15 + Years
Education: Bachelors/3-5 yr Degree
Location: Saudi Arabia

Job Purpose

We are looking for experienced professionals to join us in the Upstream Development Strategy and Reserves Department (UDS&RD) based in Dhahran, Saudi Arabia to manage one of the world's largest portfolios of on-shore and off-shore oil and gas fields. We provide opportunities to conduct pioneering studies, introduce new technologies and propose innovative development solutions.UDS&RD provides high level technical support to Upstream Management. The PE Specialist will lead the techno-economic oil & gas field developments and their commerciality assessments, focusing on long-term reservoir development, depletion planning, as well as conducting economic evaluations. This includes holistic corporate modeling and decision analysis to support field development plans concepts, portfolio capacity management, and related techno economic studies.

Key Responsibilities

• Provides expert advice and assistance for techno-economic feasibility studies and ensure alignment with Upstream Oil & Gas strategy
• Specifies design criteria and relevant operating parameters for development of new oil & gas projects.
• Participates in project technical reviews and reviews proposals for new or changed operating procedures in his/her area of expertise to ensure efficient and economic operations
• Conduct economic screening calculations including life cycle economic review to select optimal options and value creation
• Provides guidance on upstream investment opportunities
• Performs impairment assessment on upstream assets
• Conducts field portfolio management and projects ranking
• Leads the process of building and updating guidelines for upstream economics evaluation.
• Evaluates and helps develop new work processes and best technical practices
• Identifies technical challenges and develops solutions
• Develop less experienced professional staff through designing, implementing and overseeing professional development programs.
• Represent Aramco in external technical conferences, symposiums, and forums

Minimum Requirements

• BS in Petroleum Engineering or related disciplines. While a M.Sc. or Ph.D. is desirable, an additional degree in Business, Petroleum Economics or Finance would be very beneficial.
• 15 years of experience gained through working for a reputable oil and gas consulting company and/or E&P company with significant emphasis on specialization in PE technical disciplines and categories such as Petroleum Development Architecture, Field Development Planning, Reserves Assessment and Economic Evaluations. Good familiarity in the following areas is also needed: geology/geophysics, petrophysics, drilling operations, completion methods, artificial lift, well testing, flow assurance, production operations, surface facilities design, and cost estimation.
• Experience working in a large organization with a varied portfolio of reservoirs, or had a wide range of experience in smaller companies
• Experience in using variety of tools to provide analysis for petroleum economics & costing packages, Excel modelling, and understanding of oil & gas production profiling & modelling tools
• Competent level of awareness of general process facilities i.e. oil and gas processing systems to be able to understand and communicate with his/her counterpart assumption and cost basis on existing and greenfield developments and equipmen
• Expertise in oil and gas reservoir development and depletion plans
• Expertise in investment decision analysis (including risk and uncertainty), strategic long-term production plans and portfolio analysis
• Excellent written and verbal communication skills, including experience in presenting to executive management and large audiences.