Economist

Purpose:

Responsible for the delivery of sound and correct economics analysis, guidance and decision support for all Prime Energy asset projects, business plan and activities. Provide peer-review of valuation and project analysis. Support in the growth valuation. Support in commercial operations valuation, operationalization and commercial strategy execution.

THE ROLE

Economics and Commercial Valuation, Insights and Assurance:

• Deliver commercially sound, accurate, repeatable, timely and fit-for-purpose economic analysis that supports efficient and effective investment or divestment decision making for Malampaya and Prime Energy, including appropriate risk and uncertainty analysis. Ensure that the technical, commercial/economics assumptions for all economic quantification are challenged and reviewed.

Correct Business Use and Interpretation of Economics Results:

• Present the economics valuation and analysis in a manner that is understandable, and able to be correctly used and interpreted for business decisions, including in business planning, asset decision making, decision review board, valuation assurance review and group investment proposal, etc. Ensure that relevant functional sign-off is in place on all projects prior to key decision points.

Build and Maintain Economics Tools in accordance with Best Practices:

• Ensure technical integrity and quality of economic modelling and results including the use and implementation of global tools, processes and guidelines. Maintain model documentation, databooks in compliance with the economic assurance review process and maintain corporate data.

Support Growth Valuation:

• Support in valuation and progressing of growth activities, as may be assigned. Peer-review of valuation and project analysis.

Support in Preparation and Valuation of Investment/Negotiation Proposals:

• Support the preparation of commercial negotiating strategies, such as Note for File, Proposal to Commence Negotiation, Group Investment Plans, and other internal and external commercial submissions and presentations.

Act on Economics and Commercial Tasks as Assigned:

• Economics and commercial tasks for people development and establishing a back-up system within the team is assigned from time to time.

Special Challenges/Complexity Unique to the Job:

Role gives business assurance to critical decisions that involve conflicting value drivers of several projects, given some apparent value contradictions and uncertainties of activities geared towards business longevity juxtaposed by cost saving initiatives. As such, focus is on value enhancement and protection of contracts and asset projects in a complex business environment with diverse stakeholder interests. Role should effectively influence the organization to imbibe a value creation mindset that is reflected in the decision-making process and outcome.

Being part of a team composed of 6 members, it is imperative for the role to develop commercial and stakeholder management skills, to enable end-to-end sight of the team's activities. Work closely with the Operations, Exploration & Development, Projects & Technology and Finance Teams to ensure proper management of hydrocarbon sales matters.

Working Conditions:

• Office-based with occasional travel (local and international)

Effort:

• High mental exertion, with complexity of issues, ambiguity and pace of change
• Occasional extended hours, as needed, to meet critical deadlines

Scope:

Support in ensuring that the organization develops a value creation mindset that is reflected in the decision-making process and outcome. Support in commercial operations with high-level of sensitive contract integrity and management in a complex business environment with diverse stakeholder interests and ensuring proper management of hydrocarbon sales issues.

THE INDIVIDUAL

• Bachelor's degree in Business, Finance, Engineering or related field
• At least 4 years experience in business analytics and/or finance, and project implementation
• Good understanding of the energy sector and/or Philippine upstream operations, and respective relevant stakeholders
• Skilled in contract and stakeholder management is a plus