Skip to main content

Joint Venture Accountant

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