Petroleum Economist

Job Purpose:

To provide expert economic and financial analysis to support the effective management of petroleum concessions, fiscal policy design, and investment decision-making in Pakistan's upstream oil and gas sector. The role focuses on evaluating exploration and production (E&P) projects, optimizing fiscal terms, and advising on pricing and sector development strategies to balance national revenue objectives with the need to attract and retain investment.

Qualifications & Eligibility

• Academic Requirements:

• Master's degree in Economics, Energy Economics, Petroleum Economics, Finance, or related discipline from an HEC-recognized institution.

• Professional Experience:

• Minimum 7 years of experience in energy sector economics, project evaluation, or economic analysis related to petroleum or extractives.

• Preferred Skills:

• Expertise in economic modeling, cost-benefit analysis, and energy sector investment analysis.
• Familiarity with oil and gas fiscal regimes, PSCs, and royalty frameworks.
• Proficiency in analytical software (e.g., Excel, Stata, R).

Key Responsibilities:

• Conduct detailed economic and financial evaluations of upstream oil and gas projects, including assessment of exploration, field development, and production phases.
• Analyze the commercial viability of investment proposals submitted by oil and gas companies, including net present value (NPV), internal rate of return (IRR), breakeven analysis, and fiscal take estimation.
• Evaluate and advise on the fiscal terms of petroleum concession agreements (royalties, taxes, profit oil splits, cost recovery ceilings) to ensure alignment with national development goals while maintaining competitiveness for investors.
• Prepare financial models for concession agreements and production sharing contracts (PSCs), incorporating key economic variables, sensitivity analysis, risk factors, and scenario planning.
• Provide inputs for designing, reviewing, and updating Pakistan's upstream fiscal regime, including royalty structures, tax policies, and incentives to enhance sector attractiveness and revenue generation.
• Support the design and evaluation of bid rounds, licensing frameworks, and investment packages by providing economic impact assessments and financial feasibility studies.
• Conduct petroleum pricing analysis and advise on policy measures to ensure fair market pricing, government revenue stability, and investor confidence.
• Develop and maintain macroeconomic models to forecast sectoral revenues from petroleum activities, including government take, production volumes, and fiscal contributions.
• Monitor global oil and gas market trends, price volatility, geopolitical risks, and emerging fiscal policies to inform strategic decision-making and policy recommendations.
• Prepare technical reports, policy briefs, and presentations for senior management, inter-ministerial committees, and external stakeholders on economic and financial aspects of petroleum projects.
• Collaborate with legal, technical, and environmental teams to ensure integrated economic analysis in concession management and policy development.

Skills & Competencies:

• Advanced knowledge of petroleum economics, upstream fiscal regimes, and natural resource revenue management.
• Strong financial modeling expertise, including proficiency in discounted cash flow (DCF) analysis, project valuation, cost recovery models, and sensitivity analysis.
• In-depth understanding of oil and gas market dynamics, price formation, and economic risks in exploration and production.
• Familiarity with international benchmarks and best practices in petroleum taxation, royalties, and production sharing agreements.
• Proficiency in economic forecasting, statistical analysis, and policy impact assessments.
• High-level quantitative and analytical skills, with attention to financial risk, investor behavior, and government revenue optimization.
• Strong communication and presentation skills, with the ability to convey complex economic analysis to non-technical decision-makers.
• Experience with financial software, spreadsheet modeling, and economic scenario planning tools.

Monitoring & Evaluation:

• Monitor economic performance of ongoing petroleum concessions and assess actual vs. projected revenue flows.
• Track the impact of fiscal policies on investment attractiveness and sector growth.
• Provide regular updates on global market conditions and their implications for national petroleum revenues and policies.
• Recommend adjustments to fiscal models or concession terms based on emerging economic, market, or geopolitical developments.

Remuneration

• As per SPPS-III pay scale: Market-competitive remuneration package with applicable allowances as per Government of Pakistan rules.