Economist

Economist – UK North Sea12-Month Contract | Aberdeen
The OpportunityOur client is seeking an Economist to join their Aberdeen-based team on an initial 12-month contract. This is an excellent opportunity for an experienced oil & gas economist to play a key role in evaluating the commercial viability of UK North Sea assets, developments and opportunities.
The successful candidate will work closely with the Economics Manager and wider subsurface, reservoir, development and engineering teams, providing economic analysis and commercial insight to support investment and development decisions.
We are particularly interested in candidates who have gained previous experience within an oil & gas operator, ideally working as an Economist with exposure to the UK Continental Shelf (UKCS/North Sea).
Candidates with a strong front-end development / concept engineering background may also be considered, particularly those who have progressed from a Process Engineering or similar technical discipline into economic evaluation, development planning or project economics.
Key Responsibilities

• Undertake economic evaluations of oil & gas assets, fields and development opportunities across the UK North Sea.
• Build, maintain and interrogate economic models to assess project value, profitability, investment returns and sensitivities.
• Support the evaluation of field development concepts and development options, working closely with engineering and subsurface disciplines.
• Assess the commercial impact of different development strategies, production profiles, CAPEX and OPEX assumptions.
• Undertake sensitivity and scenario analysis, including commodity prices, production forecasts, costs, schedules and fiscal assumptions.
• Support investment decision-making, business planning and portfolio optimisation.
• Provide economic input into front-end development studies, concept selection, FEED and development planning where appropriate.
• Work with reservoir, subsurface, production and engineering teams to translate technical assumptions into robust economic assessments.
• Challenge assumptions and identify key economic drivers, risks and opportunities within projects and assets.
• Prepare clear economic analysis and recommendations for senior management and investment stakeholders.
• Support budgeting, forecasting and business planning activities.
• Contribute to economic assessments associated with new opportunities, acquisitions, divestments, farm-ins/farm-outs and asset portfolio decisions, where required.
• Ensure economic evaluations are based on robust, transparent and appropriately documented assumptions.

Ideal BackgroundThe ideal candidate will have:

• Previous experience working as an Economist within an oil & gas operator, preferably with significant exposure to the UK North Sea / UKCS.
• Strong understanding of upstream oil & gas economics and field development.
• Experience evaluating oil & gas projects from concept through development and/or production.
• Strong understanding of the relationship between technical development decisions and project economics.
• Experience working with economic models and undertaking NPV, IRR, payback, sensitivities and scenario analysis.
• Good understanding of CAPEX, OPEX, production profiles, reserves/resources and development schedules.
• Knowledge of the UK North Sea fiscal and regulatory environment would be highly advantageous.
• Ability to work effectively with multidisciplinary teams including subsurface, reservoir, wells, facilities, projects and commercial functions.
• Strong analytical and numerical skills, with the ability to translate complex technical information into clear commercial conclusions.
• Excellent communication skills and confidence presenting economic conclusions to technical and senior stakeholders.

Alternative Technical BackgroundThe client would also consider candidates who do not have a traditional Economics career path but have moved into economic evaluation from a front-end development engineering background.
This could include candidates with experience in:

• Process Engineering
• Concept Development
• Front-End Engineering / FEED
• Field Development Planning
• Development Studies
• Concept Select
• Project Economics
• Development Economics
• Technical Due Diligence

Candidates from a Process Engineering / Front-End Development background who have developed strong experience in assessing development concepts, CAPEX/OPEX, production assumptions and project economics could therefore be highly relevant.
Qualifications & Experience

• Degree qualified
• UK North Sea / UKCS experience is highly desirable.
• Experience within an operator environment would be particularly advantageous.
• Strong Excel and economic modelling capability.
• Experience with specialist oil & gas economic modelling software would be beneficial.
• Commercially minded with the ability to understand both the technical and economic drivers of an upstream development.

Contract & LocationLocation: Aberdeen
Duration: 12 months
Contract: Contract position
Start: ASAP / dependent on availability
This role represents a strong opportunity for an experienced North Sea Economist or technically strong Development/Process Engineer with project economics experience to join an established operator environment and contribute directly to important UKCS development and investment decisions.


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