Senior Economist

Job Description Department: Portfolio, Exploration & Commercial Reports to: Director, Portfolio, Exploration & Commercial The Senior Economist will own economic modelling, valuation and investment analysis across UCC Holding’s upstream oil and gas portfolio. The role supports exploration, development, producing assets and transactions by translating technical assumptions and commercial terms into assessments of value, uncertainty and capital requirements. As custodian of models and evaluation methodologies, the role provides consistent analysis and independent economic judgement to the Director. The Senior Economist works with technical and Finance teams and provides economic advice for commercial structuring and negotiations led by the Senior Commercial Manager. Key Responsibilities 1. Economic Evaluation and Investment Analysis Build, maintain and document models integrating production, development and operating costs, fiscal terms, abandonment obligations and transaction assumptions. Evaluate NPV, IRR, breakevens, cash flow, payback and funding exposure, distinguishing project economics, shareholder economics and acquisition consideration. Assess development alternatives, investment timing and transaction scenarios; explain value drivers and their implications for screening, sanction and investment decisions. Evaluate income statements, balance sheets and cash flow statements, supported by schedules for working capital, capital expenditure, depreciation or depletion, and abandonment provisions Model debt drawdowns, repayments, interest expense and interest during construction, including capitalisation where appropriate, using financing terms and accounting policies agreed with Finance 2. Fiscal and Commercial Analysis Model production sharing contracts, concessions and other upstream arrangements, including royalties, cost recovery, profit sharing, taxation and ownership or entitlement provisions. Quantify proposed terms, pricing, tariffs, payment mechanisms and risk allocation; provide sensitivities and economic thresholds for negotiations led by the Senior Commercial Manager. Reconcile models with agreed terms and obtain Finance, tax and Legal input where required, documenting interpretations and unresolved assumptions. 3. Exploration Economics and Decision Analysis Evaluate exploration and appraisal opportunities using risked valuation, decision trees and scenarios, incorporating dry-hole costs, follow-on expenditure and development options. Use resource ranges and probabilities provided by subsurface specialists to distinguish geological success from commercial viability and assess minimum economic resource thresholds. Apply probabilistic methods where useful, account for dependencies and avoid double-counting risks; evaluate the value of further information before capital is committed. 4. Portfolio Analysis and Capital Prioritisation Maintain comparable valuations and investment metrics using agreed assumptions, evaluation dates and methodologies. Analyse portfolio capital requirements, cash generation, timing, concentration and downside exposure to support prioritisation and capital allocation recommendations. Screen acquisitions, divestments and farm-ins or farm-outs; benchmark transactions and market assumptions and reconcile asset, enterprise and equity valuations with Finance. 5. Economic Model Governance and Assurance Maintain evaluation templates, assumptions registers, sources, version control, checks and change logs, with clear ownership of technical, commercial and financial inputs. Coordinate evaluation conventions with the Director, Finance and technical teams, including price decks, inflation, foreign exchange, discount rates and production or cost scenarios. Prepare material models for review by a separate qualified reviewer, resolve findings and retain an auditable record of changes before submission for investment decisions. 6. Investment Decision Support and Stakeholder Engagement Prepare economic summaries and presentations for stage gates, investment reviews and management discussions, identifying recommendations, uncertainties and information required. Explain valuations and sensitivities to technical and non-technical stakeholders, constructively challenging inputs and distinguishing evidence from assumptions. Transfer approved economic baselines to asset teams and compare investment assumptions with subsequent performance to inform updated valuations and future decisions. Qualifications and Experience Degree in Economics, Finance, Petroleum Engineering, Geoscience, Mathematics or a related discipline. Experience Minimum 10+ years of applied upstream economics experience in an operator oil and gas company or investment banking. Demonstrated ownership of economic models across exploration, development, producing assets and transactions, with exposure to multiple fiscal regimes. Experience supporting investment committees, project sanctions or acquisition decisions within multidisciplinary teams. Experience combining technical and commercial inputs into clear investment recommendations and comparable portfolio analysis. Technical Skills Strong upstream economic modelling, valuation and fiscal analysis. Strong practical accounting knowledge and skills, including integrated financial statements, debt and interest schedules, working capital, depreciation or depletion and the treatment of interest during construction. Exploration economics, decision analysis and treatment of uncertainty. Good working knowledge of applied statistics is desirable, including probability distributions, correlation, data quality and sampling limitations, and interpretation of incomplete information with geoscience specialists. Portfolio screening, capital prioritisation and acquisition valuation. Model quality control, assumption reconciliation and clear investment reporting. Software Proficiency in Excel for economic and financial modelling, with clear logic, transparent calculations and models that others can review, maintain and use Experience with upstream economics software and industry datasets, with the ability to adapt to the company’s selected systems. Practical use of statistical analysis and visualisation tools is advantageous. Key Competencies Strong analytical judgement and attention to detail. Constructive challenge and sound commercial awareness. Clear communication of investment implications. Accountability for quality, deadlines and transparent assumptions. Effective collaboration across technical, commercial and financial disciplines. Show more Show less