Head Of Economics

Copenhagen Local / International Finance / Economics Ref.: MO-058345 Reporting to the Head of Financial Planning, this role will see you provide functional leadership for our global economics function. We Offer Role Dimensions: •Direct Reports 4-5, Global Skill Pool approx. 10 •Annual Capital Expenditure $3-5 billion •Entitlement production – 2014 240kbpd, 2020 approx. 400kbpd •Profit 2014 – approx. $1.0 bn Role Purpose: •Setting, maintaining and communicating standards for economic evaluation and Business Plan assumption •Implementing and maintaining corporate standards for economic evaluations, promoting best practices in economic evaluations and promoting and developing commercial awareness •Overseeing a team of Senior Petroleum Economists supporting the Business Units, Global Business Development, Exploration and Commercial •Ensuring that contract fiscal terms are understood, interpreted correctly and communicated to fully understand value drivers •Assisting to deliver 5-year Business Plan and Annual Reserves / Resources Evaluation and ensuring new acquired Assets are understood and integrated Key Responsibilities •Assurance of economic evaluations and functional capability, economic model integrity, contract fiscal terms are reflected in the economic models, and encouraging continual improvement •Co-ordinate data input with Economists to Business Plans / economic initiatives / Year End Reserves evaluation / ERM (risked Business Plan) with quarterly updates and maintain clear communication links with the Business Units referring to fiscal terms, economic assumptions •Based on Business Plan and annual budgets, identify focus areas and key projects for company and Opcos, and lead key players efforts on delivery •Support and coach Economists to develop a pro-active advisory role focusing on key economic value drivers •Integration of New Assets - Ensure new acquired Assets are understood and integrated in the Business Planning Process •Lead Maersk Oil forward in adopting probabilistic economic modeling in project evaluation for all regions •Owner of the portfolio of economic modelling tools utilized in the business with a focus on driving standardization and consistency •Co-ordinate acquisition and evaluation of commercial and political information in areas of interest for planning and commercial purposes and review and maintain corporate oil price assumption •Establish and manage Portfolio ranking process for Exploration prospects and Production assets •Assist in conducting and communicating look forwards and look-backs and strategic reviews Who we are looking for Functional Requirements: •Strong technical economics skills and ability to lead organization in all economic matters •Fundamental understanding of the key upstream value drivers and risks both from commercial and technical standpoints. •In depth understanding of petroleum contracts Petroleum Contracts (Tax, Royalty, PSA, other), Farm In/Out and Joint Venture Agreements. •Excellent analytical skills and confidence to challenge •Advanced Excel skills; experience with economic evaluation software desirable (e.g. Palantir Cash) •Strong communication skills – both, written and verbal Behavioural Requirements: •Creates culture of flexibility, responsiveness and continuous improvement •Ability to give frequent and candid performance feedback and prepared to have difficult discussions •Well organized •Flexible – able to react to change and varied timetables •Good communication skills •Self-motivated and good team leader Experience/Qualifications: •10 years + experience in an Upstream oil & gas environment •Seniority to communicate with all levels of the organization •Holds degree in either Engineering/Science/Economics and MBA is desirable •Good critical thinking and analytical skills *LI-TJ1 For further information, please contact: Timo.Hilton-Jones@maerskoil.com. Maersk Oil is an international oil and gas company with operated production of about 557,000 barrels of oil equivalent per day from Denmark, the UK, Qatar, Kazakhstan, Brazil and Algeria. Exploration activities are on-going in Angola, Norway, the US Gulf of Mexico, Greenland, Iraqi Kurdistan and in the producing countries. Turning marginal and challenging fields into commercial successes has been the cornerstone of Maersk Oil’s business since 1962. Maersk Oil focuses on pioneering technologies and harnessing talent to continue to operate safely and successfully, creating value for partners and host governments. Maersk Oil is a fully-owned subsidiary of the global conglomerate, the Maersk Group.