Sunday , February 5 2023

Financial Analyst – Petrofac Jobs

Website Petrofac

Job Description

Preparation and submission of annual Work Programme and Budget (WP&B) to Joint Venture (JV) Partners and PETRONAS; and annual Business Plan (BP) and quarterly forecast to Petrofac IES.

Collaborate with Operations team in timely submission and approval for Budget Transfer (BT), Conditional Approval (CA) Lifting Request and Additional Budget Request (ABR). Provide input and setting up appropriate cost structure (project codes and task codes) for new Opex to enable understanding and meaningful monitoring of costs.

Job Responsibilities:

  • Cost monitoring through detailed analysis and provision of meaningful variance explanation against budget and forecast to the management, correct and accurate monthly reporting as part of management information for PMY and Petrofac IES.
  • Ensuring correct accounting and actual cost reporting i.e. reporting of Value of Work Done (VOWD), accruals and Opex/ Capex classifications are made in line with accounting principles, agreed cost allocation mechanism, correct cost charging and treatment, includes time writing.
  • Provide support to PMY and Petrofac Group/ IES Finance Improvement Initiatives and to facilitate identification and monitoring of cost optimisation initiatives at the working level.
  • Invoicing & Payment: To support Accounts Payable team and line departments in facilitating and resolving invoice & payment related issues.
  • Provide advice to Operations and Production Operations Support teams on budget availability, internal and external approval/ reporting requirements to ensure compliance with relevant requirements.
  • Audit: To support Financial Reporting, PSC and Compliance team in providing required documents and responses to audit queries.
  • Timely submission of monthly, quarterly, half-yearly and year-end reporting to PETRONAS, monthly Joint Interest Billing (JIB) statement and quarterly reporting to JV Partners.
  • Review of financial evaluation for contract bidders, if any.
  • Cash Call: To support Treasury in providing responses to queries from JV Partners on cost cash called.
  • Cost Recovery: Monitoring of PSC clauses with Operations and Production Operations Support teams to maximize Contractors’ recovery from PSC, and detailed tracking of expenditure against approved WP&B.

Jobs Requirements:

  • Skill in using ERP system ORACLE system
  • Minimum 5 years working experience with a broad experience in finance in multinational environment. Candidate with prior involvement in supporting Operations, budgeting and reporting and experience in the upstream oil and gas industry is highly preferred.
  • Accounting Skill: Able to apply correct Opex/ Capex accounting treatment and understands the linkage to the financial and PSC statement e.g. depreciation, finance lease etc
  • Bachelor’s Degree in accounting/ finance or other relevant qualification. Professional accounting qualification (MIA, ACCA, CIMA, CPA) is preferred but not most essential.

Job Details

Company: Petrofac

Vacancy Type: Full-time

Job Functions: Human Resources

Job Location: Kuala Lumpur, Malaysia

Application Deadline: N/A


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