Organisational context
and job purpose
INEOS Oil & Gas is a fully integrated exploration and production company with assets in the UK, Denmark and Norway. The Joint Venture (JV) Accountant is responsible for the JV portfolio for operated and non-operated E&P projects within the UK business.
Responsibilities and Accountabilities
- Prepare supporting audit documentation including accounting papers under GAAP (FRS101) reporting to assist with the audit close process
- Financial lead for the annual impairment process – liaise with economists / modelling controller utilising the latest high level model (HLM), challenge assumptions and update to calculate the current NPV's of individual UK assets to asses impairment under IFRS 9
- Perform monthly accounting adjustments for complex commercial agreements, for example SKIFF, Condensate Gas ratio
- Handle all revenue calculations, journal postings, invoicing and reporting ensuring collaboration with the Commercial and Operations team.
- Calculate the borrowing & lending position across the assets in line with group revenue recognition policies
- Responsible for month end close activity for operated and non-operated assets (opex, tariffs, capex and decom postings) as well as calculation of accruals and prepayments of overheads such as insurance
- Ensure accounting compliance of Carbon credits in line with group and IFRS Emissions trading schemes
- Responsible for preparing and issuing Operated Joint Venture billings for operated assets and acting as the finance point of contact for partner queries.
- Monitor customer receipts and follows ups as a reminder of the due payment dates to customers / JV partners.
- Finance lead for Greater Laggan Area; supporting the asset manager in audit process and communications.
- Monitor and analyse JV expenditure against budget / forecast and AFE
- Produce high quality monthly KPI information – including Cash capital expenditure & decommissioning analysis.
- Prepare weekly 13 week cash flow forecast for UK O&G
- Produce monthly financial reports for Upstream businesses, comparing actual spend against budget and forecast, challenging the results to ensure that accruals and prepayments are correctly captured.
Skills & Knowledge Required
- Degree in Finance, Accounting or equivalent.
- Relevant finance qualification (CIMA preferred)
- Experience of using SAP
- Advanced Microsoft Excel skills
- Highly numerate with a high degree of accuracy and attention to detail
- Analytical
- Excellent communication skills (written and verbal)
- Keen problem solver
- Team player
To apply for this role, please send your CV to IOGUK.Personnel@ineos.com