Petroleum Economist Specialist Jobs

This role required candidate to permanently relocate at Dhahran, Saudi Arabia.

About the Company


This company engages in the exploration, production, transportation, and sale of crude oil and natural gas. It operates through the following segments: Upstream, Downstream, and Corporate. The Upstream segment includes crude oil, natural gas and natural gas liquids exploration, field development, and production. The Downstream segment focuses on refining, logistics, power generation, and the marketing of crude oil, petroleum and petrochemical products, and related services to international and domestic customers. The Corporate segment offers supporting services including human resources, finance, and information technology. The company was founded on May 29, 1933 and is headquartered in Dhahran, Saudi Arabia.

Job Summary

We are seeking a Petroleum Economics Specialist to join This Company's Upstream Development Strategy & Reserves Department (UDS&RD) which is based in Dhahran, Saudi Arabia and manages one of the world's largest portfolios of on-shore and off-shore oil and gas fields. UDS&RD provides high-level technical support across the full range of hydrocarbon exploration and production activities, including economic optimization of the entire resource portfolio; as well as opportunities to conduct pioneering studies, introduce new technologies, and propose innovative development solutions. The Petroleum Economics Specialist will lead the conceptualization of oil and gas field developments and their commerciality assessments, focusing on long-term reservoir development, depletion planning, and economic evaluations. This includes holistic corporate modeling and decision analysis to support field development plan concepts, portfolio capacity management, and related techno-economic studies.

Responsibilities:

• Conducting economic studies and cost analysis to resolve alternative courses of action.
• Conducting field portfolio management and project ranking.
• Representing This Company in external technical conferences, symposiums, and forums.
• Providing expert advice and assistance on operating problems.
• Providing guidance on upstream investment opportunities.
• Performing impairment assessment on upstream assets.
• Developing less-senior staff through designing, implementing, and overseeing professional development programs.
• Specifying design criteria and relevant operating parameters for the development of new oil and gas projects.
• Participating in project technical reviews and reviewing proposals for new or changed operating procedures to ensure efficient and economic operations.
• Leading the process of building and updating guidelines for upstream economics evaluation.

Requirements:

• Must have strong familiarity with geology/geophysics, petrophysics, drilling operations, completion methods, artificial lift, well testing, flow assurance, production operations, surface facilities design, and cost estimation.
• Willing to permanently relocate at Dhahran, Saudi Arabia.
• Expertise in investment decision analysis (including risk and uncertainty), strategic long-term production plans, and portfolio analysis.
• Experience working in a large organization with a varied portfolio of reservoirs or had a wide range of experience in smaller companies.
• 15 years of experience gained through working for a reputable oil and gas consulting and/or E&P companies specializing in PE technical disciplines such as Reservoir Characterization, Petroleum Development Architecture, Business Development Planning, Reservoir Surveillance & Monitoring, Reserves Assessment, and Economic Evaluations.
• Expertise in oil and gas reservoir development and depletion plans.
• Extensive experience presenting to executive management and large audiences.
• Bachelor's degree in Petroleum Engineering or related disciplines. While an M.Sc. or BS in Petroleum Engineering or related disciplines, advanced degrees in Business, Petroleum Economics, Finance or related fields would be very beneficial.