Well Accountant

6 months ago

Abu Dhabi, United Arab Emirates Petrofac Full time

**Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world’s leading energy companies.**

We design, build, manage and maintain infrastructure for our clients. We recruit, reward, and develop our people based on merit regardless of race, nationality, religion, gender, age, sexual orientation, marital status or disability. We value our people and treat everyone who works for or with Petrofac fairly and without discrimination.

The world is re-thinking its energy supply and energy security needs; planning for a phased transition to alternative energy sources. We are here to help our clients meet these evolving energy needs.

This is an exciting time to join us on this journey.

We support flexible working requests and have adopted a hybrid approach for most of our office-based roles. We ask employees to be present in the office at least three days per week.

**_ Are you ready to bring the right energy to Petrofac and help us deliver a better future for everyone?_**

**JOB TITLE: WELL ACCOUNTANT**

The role is based within the Drilling & Completions team and responsible for the accounting aspects of wells activities throughout the E&P lifecycle. The well accountant provides insights that drive efficient resource allocation while also striving to develop sustainable Accounting processes.

The well accountant is responsible for keeping accurate accounting records, including strict monitoring of wells team AFE costs and all other costs incurred during well operations activities, keeping adequate and up-to-date records of all items, and reporting the same accurately monthly, quarterly, and annually as required.

**KEY RESPONSIBILITIES**:

- Produce forecast financial data required for the creation of planning of AFEs and Well Cost Estimates for all Well Activity in co-ordination with all Well Engineering disciplines.
- To act as financial monitor and reviewer of all AFEs issued to clients including all supplements and revisions
- Create and operate a detailed cost tracking model to calculate the value of work done during all well activities, working closely with Well Engineering Team, Logistics and Commercial depts.
- Ensure client has a full understanding and provision of appropriate documentation substantiating estimates and Estimated Final Costs. Providing an ongoing (daily) cost management role, detailing all charges to the well with particular emphasis on a projected overspend and effective audit presentation of costs
- Finance support to the Drilling and Completions Team
- Manage the interface between finance and wells team
- Ensure that Well AFEs are fully approved before wells are spudded.
- Ensure that all relevant costs are captured in appropriate AFEs and expenditures are incurred and charged to accounts in line with the AFE
- Participate actively in the budget build for all drilling campaigns by ensuring that all relevant drilling costs are provided for during the budget build
- Main point of contact for all client and vendor financial queries. Respond to all drilling cost queries
- Monitor actual expenditure against call-offs and contracts prompting timely revisions as required
- If required fulfill the treasury function for payment authorization and administration of all project bank accounts, cash flow forecasting and escrow agreements
- Well reconciliation and cost analysis dependent on client requirements
- Ensure Well Closeouts adhere to Finances KPIs
- Latest Well Forecast v AFE / Estimated Final Cost Analysis / Ad hoc Variance Analysis
- Audit coordination of all client audit requirements.
- Contribute to Financial governance process when required
- Build strong internal relationships towards improving the effectiveness of procedures
- Liaison with other departments to ensure a thorough understanding of the business processes as they relate to wells accounting requirements. Develop strong working relationships with all members of the Well Engineering Team, representing financial matters in this area.
- Identify areas for improvement and concern and adequately capture in Turus for future improvement

**ESSENTIAL QUALIFICATIONS AND SKILLS**:

- Qualified accountant or qualified by experience in Drilling Accounting
- Excellent excel skills
- Bachelor's Degree in Accounting, Finance, or any Business Management-related course is not essential but preferred
- A strong understanding of the Exploration and Production (E&P) lifecycle and experience in Oil and gas and particularly in drilling and completion
- Ability to work as part of a team and “stand-alone” for areas of responsibility
- Ability to work under pressure and to deliver objectives and deliverables to deadlines
- Ability to build and develop excellent client and offshore working relationships
- Knowledge of ERP systems such as SAP/Maximo system

**#LIVV2

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