Reports to: Head of Finance, IT and Economics
Organisation and Interfaces
The Economist will report to Head of Finance, IT and Economics and interact on a daily basis with the Asset Leadership Team, commercial negotiators and other Asset personnel. The job holder will maintain a soft link to SP&E skill centre, and interact frequently with New Ventures to support delivery of growth strategy, and BGA engineering and Global LNG. External interaction will typically be in support of commercial negotiations with Government and JV partners.
The Economist role exists to maximize value to BG from upstream and midstream opportunities in Tanzania through insightful and complete economic analysis and ensuring that BG’s valuations are accurate and consistent. The job holder will initially be responsible for the economic evaluation of Tanzanian upstream projects, including M&A new ventures, with anticipated need to develop midstream models and an integrated value chain perspective in the medium term. Key accountabilities include:
- Preparation of economic analysis for Tanzanian Operated Assets, including Blocks 1,and 4 and potential midstream projects including building economic cash flow model and/or improving existing models for projects across the gas chain, using them to define financial viability and risk associated with company investment decisions.
- Prepare presentations and economic evaluation reports on economic material to Asset Management, BG Management (including Exec papers) and coventurers including all economic submissions for BG licenses in Tanzania on behalf of the JV.
- Represent BG with JV partner, Government and other third party discussions on economics related matters. Providing economic support and advice on negotiations,commercial agreements, project financing and fiscal terms.
- Key contributor to commercial team working on business development projects from initial scoping phase to sanction, participating in strategy formulation, competitor analysis and portfolio analysis. Identifying and quantifying key factors and risks in project value and identifying opportunities for optimisation of value/ risk mitigation.
- Undertake the Business Planning, Opportunity Screening, PRI, Reserves Reporting and other corporate processes on behalf of the Tanzania Asset.
- Providing economics support for certain M & A activities in Tanzania Asset.VAF and CIP Reporting and approvals
- Ensure compliance with BG Economic Evaluation Guidelines, BG VAF process and full functional interaction with SPE
- Support in preparation of VAP, RR’s, risk register and approval papers
- Ensure the asset complies with BG’s internal quality assurance and governance on evaluations in investment and planning proposals.
The initial focus of the role during the E&P phase will be upstream but it is anticipated that development of the midstream commercial concepts will be a growing feature. This is seen as a development role for an economist who is already highly competent in upstream work and is keen to develop commercial and midstream skills. Key attributes of the job holder are:
- Excellent analytical and problem-solving skills with ability to shape complete commercial constructs, including tax implications, applying good knowledge of economic theory and investment appraisal techniques.
- Highly competent in building and running economic cash flow generation models using Excel or PEEP.
- Experienced in building probabilistic models using Excel and experienced in running Monte Carlo simulations using @Risk.
- Enthusiastic, good at relationship building, flexible and proactive team player with desire to expand their current role and develop commercial skills.
- Detailed knowledge of upstream economics with experience of acquisition/farm ins
- Ability to develop midstream and downstream models and good understanding of the key commercial drivers related to such projects.
- Ability to develop Gas demand model to forecast the Tanzania local market need for natural gas.
- Understanding of financial and reserve reporting and project financing.
- Good knowledge of oil and gas and markets in East African countries is an advantage