Planning, Economics & Commercial Manager at Nestoil Plc

We are on an evolutionary journey where we’re changing our story. We are looking to hire an experienced Planning, Economics & Commercial Manager to join our diverse team in our Company.

In this role, you will work closely with our Strategic Business Units (SBU) and departments across the Group. You will facilitate the process of compiling, documenting, and communicating short-, medium- and long-term expenditure, oil and gas production, operating expenditure plans, and tracking actual performance relative to plans. Provides quality decision analysis and clarity around the value propositions and profitability of investment opportunities to enable management to make the right investment decisions. Leads development and review of agreements and commercial negotiations.

As a Planning, Economics & Commercial Manager, you will be responsible for:

• Facilitating the compilation of capital and operating expenditure plans, production forecasts, and planned downtime events from different departments. Aggregate information, and work with departments and management to prioritize and schedule activities/expenditures to fit budget guidelines.
• Developing short-, medium-, and long-term expenditure plans, oil, gas and water production forecasts, flare gas forecasts, and corresponding cashflow forecasts.
• Working with Joint Venture (JV) partners to gain alignment on JV priorities and budgets.
• Being involved in budget performance reviews and budget realignment activities with JV partners.
• Keeping abreast of alternative financing programs and ensure all Planning deliverables are met within the stipulated timelines.
• Implementing controls to ensure budget line owners do not exceed their budgets without appropriate approval process.
• Facilitating performance reviews to monitor the performance of departments and projects relative to budgets.
• Being familiar with relevant Nigerian fiscal terms including the Petroleum Profits Tax Act, Company Income Tax Act, and the Petroleum Industry Act.
• Building new economic models or revising existing models to ensure that the models capture the reality of the investments being evaluated.
• Collating, reviewing, and discussing input data and economic assumptions to undertake sound and profitability analysis for the OML 42 Asset.
• Carrying out economic and financial evaluations of investment proposals including development drilling, facility investments, and exploration drilling. 
• Developing presentations to effectively communicate budgets, forecasts, economic analysis results and recommendations to both internal and external audiences.
• Performing any other required planning and economic analysis functions.
• Leading development and review of agreements and commercial negotiations.

What are we looking for?

• Bachelor’s degree in Finance/Economics/Engineering or any related numeric field.
• Minimum of 10 years’ experience in the oil and gas industry with a minimum of 2 years in a supervisory or higher position.
• Extensive experience in financial and economic modelling of oil and gas investments. 
• Experience in planning or budgeting function would be an advantage
• Experience in negotiating commercial terms would be an advantage.
• Excellent skills in financial and economic modeling as well as investment appraisal
• Familiarity with economic modelling software or spreadsheet models
• Knowledge of oil & gas market and the key value drivers
• Highly developed analytical skills
• Good communication and interpersonal skills and able to work in cross-functional teams
• Well organized individual with proven ability to perform under pressure amidst competing deadlines