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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
Excellent communication skills (written and verbal)
Keen problem solver
To apply for this role, please send your CV to IOGUK.Personnel@ineos.com