Well Accounting Manager

Job Description

Job title: Well Accounting Manager

Company: Petrofac

Job description: Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world’s leading energy companies.

We design, build, manage and maintain infrastructure for our clients. We recruit, reward, and develop our people based on merit regardless of race, nationality, religion, gender, age, sexual orientation, marital status or disability. We value our people and treat everyone who works for or with Petrofac fairly and without discrimination.

The world is re-thinking its energy supply and energy security needs; planning for a phased transition to alternative energy sources. We are here to help our clients meet these evolving energy needs.

This is an exciting time to join us on this journey.

We support flexible working requests and have adopted a hybrid approach for most of our office-based roles. We ask employees to be present in the office at least three days per week.

Are you ready to bring the right energy to Petrofac and help us deliver a better future for everyone?

JOB TITLE: WELL ACCOUNTING MANAGER

KEY RESPONSIBILITIES:

• Accountable for performing all duties with due regard to the health, safety of self, others and of the environment in which they are undertaken.
• Accountable for compliance with Petrofac well management system well accounting guideline requirements and other relevant guidelines and standards and relevant Client and legislative requirements.
• Provide assurance to Petrofac wells teams to deliver client and internal accounting project objectives.
• Well Accounting Manager will act as a focal point for all well accounting matters for all wells projects. They will be accountable to the Wells Manager (or equivalent) within their region. They will be an overall customer focal point for all wells accounting and project financial matters with the objective of assuring a consistent service level and accounting process is followed across all projects.
• They shall be responsible for the line management of all personnel within the well accounting discipline, including Senior Well Accountants (3), Well Accountants (1), Assistant Well Accountants (2) and Accounts Assistants (1).
• They shall lead the well accounting discipline interface with the wells finance, commercial (subcontracts) and admin teams and asset solutions finance, treasury, tax and IT/Information Systems functions ensuring:
• The workload and delegation of well accounting tasks to line reports is optimised and sustainable
• Client and subcontract payment terms support the finance process;
• The projects well accounting finance process is optimised to meet project (customer) requirements and understood by internal parties
• The accounting interfaces with the commercial / call-off process aligns with the finance process
• A swift remedy to invoice payment queries or any IT application related issues for wells projects that require escalation
• Internal financial reporting remains simplified and always value add and managed by the Well Accounting Manager where possible to support project well accountants to focus on project and customer facing matters.
• Well accounting business improvement / process improvements are identified (new or via sharing of best practice from other functions), assessed and implemented across projects where beneficial,
• including acting as focal point with the well accounting team for IT/Information systems configuration, training or development requests, principally related to Oracle ERP and de-bottlenecking well
• accounting tasks in general to maximise opportunities for automated or system supported work flows rather than disproportionate time spent on manual re-work of system data for internal or external reporting or invoicing purposes.
• Support for adhoc well accounting requirements is provided, including providing absence cover for Senior Well Accountants as required.
• The senior well accountant roles to be managed by the Well Accounting Manager have the following duties:
• Produce forecast financial data required for the creation of planning of AFEs and Well Cost Estimates for all Well Activity in co-ordination with all Well Engineering disciplines. To act as financial monitor and reviewer of all AFEs issued to clients including all supplements and revisions.
• Create and operate a detailed cost tracking model to calculate the value of work done during all well activities, working closely with Well Engineering Team, Logistics and Commercial depts. Ensure
• client has a full understanding and provision of appropriate documentation substantiating VOWD estimates and Estimated Final Costs. Providing an ongoing (daily) cost management role, detailing all charges to the well with particular emphasis on a projected overspend and effective audit presentation of costs.
• Contract compliance and review of all operational third party supplier invoices.
• Monitor of actual expenditure against call offs and contracts prompting timely revisions as required.
• Main point of contact for all first line client and vendor financial queries.
• Treasury function – payment authorisation and cash flow forecasting and should our client contracts require, the administration of all project bank accounts and escrow agreements.
• Well reconciliation and cost analysis dependent on client requirements
• Latest Well Forecast v AFE / Estimated Final Cost Analysis / Ad hoc variance analysis
• Audit co-ordination of all client audit requirements.
• Liaison with other departments to ensure a thorough understanding of the business processes as they relate to wells accounting requirements. Develop strong working relationships with all members of the Well Engineering Team, representing financial matters in this area.
• Identify areas for improvement and/or concern or risk to project delivery or sustainable well accounting practice.

ESSENTIAL QUALIFICATIONS AND SKILLS:

• Experience of delivering in a well accounting role or wells finance and business process improvement role
• Experience of leading teams and line managing
• Experience of interfacing with an ERP application for accounting and finance processes.
• Qualified accountant or qualified by substantive experience in a Drilling / Well Accounting or Wells Finance role
• Working knowledge of Microsoft Excel and enterprise resource and finance applications e.g. Oracle, SAP etc
• Able to demonstrate examples of alignment with the business values of Driven, Open, Agile and Respectful and the associated behaviours defining how we conduct ourselves and deliver our work
• Able to demonstrate es of axamplelignment with the business values of Driven, Open, Agile and Respectful and the associated behaviours defining how we conduct ourselves and deliver our work
• Excellent communication skills to engage constructively with suppliers and clients and internal personnel at all levels
• Leadership skills to listen to and motivate all within the well accounting discipline to deliver their best for every project and to recognise and identify timely solutions for challenges such as where resource or skills gaps or workload pressures may require additional personnel to support and sustain an excellent service level to customers.
• Problem solving and process innovation skills to support a growth mindset
• Ability to explain, summarise and report complex well accounting matters to non-accounting professionals to expedite solutions to project challenges.
• Excellent MS Excel application skills
• Cost analysis skills
• Attention to detail
• Conscientiousness
• Self-development ability
• Customer centric focus
• Ability to develop strong and productive relationships with all stakeholders
• Awareness and understanding of contractual / financial obligations.
• Manage client requirements in line with operational activities.
• Ability to work under pressure and to deliver objectives and deliverables to deadlines
• Ability to prioritise workload and demonstrate good time management skills
• Mentoring / line management skills

Additional Information

Expected salary:

Location: Aberdeen

Job date: Sun, 24 Dec 2023 07:19:30 GMT

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