Senior Specialist, Economic Analysis

Abu Dhabi National Oil Company; Abu Dhabi; On-site; AED 350,000 - 550,000; Full time

Job summary

Abu Dhabi National Oil Company (ADNOC) seeks a Senior Specialist in Upstream Investment & Economic Analysis to provide expert economic analysis for investment decisions, capital projects, and business development. You will build robust economic models, evaluate concessions, and assess M&A and farm-in opportunities, delivering data-driven insights to senior management.

Collaborating with Group Companies, Finance and Legal, you will support portfolio optimisation and ensure adherence to ADNOC

Qualifications

• Bachelor’s degree in Economics, Finance, Engineering, or related field.
• 10 years’ relevant experience in economic analysis, financial modelling, or investment evaluation within the oil and gas industry, with a focus on upstream activities.
• Demonstrated experience in economic evaluation of capital projects, business development, or M&A transactions.
• Exposure to working in or with large integrated oil and gas companies, or with international partners, is an advantage.

Responsibilities

• Conduct economic evaluations of upstream investment opportunities, including concessions, capital projects, mergers & acquisitions, and farm-in/farm-out transactions, ensuring alignment with corporate strategy and maximising value.
• Prepare and review detailed economic models, financial forecasts, and sensitivity analyses for proposed investments and business development initiatives.
• Support the development and periodic review of the Upstream Investment Strategy, providing data-driven insights and recommendations to the VP and senior management.
• Participate in the preparation of investment business cases and presentation materials for decision-making committees, including the Investment Program Committee (IPC) and Investment Committee (IC).
• Collaborate with Group Companies and other directorates to ensure consistency in economic evaluation methodologies, assumptions, and reporting standards.
• Assist in the review and assessment of fiscal regimes, concession agreements, and related legal documents, providing economic input to protect ADNOC and Government interests.
• Conduct regular portfolio analysis and investment performance reviews, identifying optimisation opportunities and supporting capital allocation decisions.
• Monitor macroeconomic, industry, and market trends, integrating market intelligence into economic analysis and investment recommendations.
• Prepare position papers, reports, and briefing notes on economic and investment issues for senior management.
• Ensure adherence to ADNOC’s economic evaluation procedures, internal controls, and best practice standards.
• Build and maintain effective relationships with internal stakeholders, including Group Companies, Finance, Legal, and Executive Office, and external parties, such as international shareholders and consultants.

Skills

Economic evaluation

Financial modelling

Investment appraisal

Excel modelling

Data analysis

Communication skills

Education

Bachelor’s degree in Economics, Finance, or related

Tools

Advanced Excel

Spreadsheet modelling

Job description

1. JOB PURPOSE

To provide expert economic analysis and evaluation in support of ADNOC Upstream’s investment decisions, capital projects, and business development activities.

The role ensures robust economic assessments for oil and gas concessions, mergers and acquisitions, farm-ins/farm-outs, and other corporate transactions, contributing to the optimisation of project portfolios and capital efficiency.

The Senior Specialist collaborates closely with internal and external stakeholders to deliver high-quality analytical outputs that inform strategic recommendations and maximise value for ADNOC and Government interests.

2. KEY ACCOUNTABILITIES

Job Specific

• Conduct economic evaluations of upstream investment opportunities, including concessions, capital projects, mergers & acquisitions, and farm-in/farm-out transactions, ensuring alignment with corporate strategy and maximising value.
• Prepare and review detailed economic models, financial forecasts, and sensitivity analyses for proposed investments and business development initiatives.
• Support the development and periodic review of the Upstream Investment Strategy, providing data-driven insights and recommendations to the VP and senior management.
• Participate in the preparation of investment business cases and presentation materials for decision-making committees, including the Investment Program Committee (IPC) and Investment Committee (IC).
• Collaborate with Group Companies and other directorates to ensure consistency in economic evaluation methodologies, assumptions, and reporting standards.
• Assist in the review and assessment of fiscal regimes, concession agreements, and related legal documents, providing economic input to protect ADNOC and Government interests.
• Conduct regular portfolio analysis and investment performance reviews, identifying optimisation opportunities and supporting capital allocation decisions.
• Monitor macroeconomic, industry, and market trends, integrating market intelligence into economic analysis and investment recommendations.
• Prepare position papers, reports, and briefing notes on economic and investment issues for senior management.
• Ensure adherence to ADNOC’s economic evaluation procedures, internal controls, and best practice standards.
• Build and maintain effective relationships with internal stakeholders, including Group Companies, Finance, Legal, and Executive Office, and external parties, such as international shareholders and consultants.

Generic

Supervision

• Plan, supervise and coordinate all activities in the assigned area to meet functional objectives.
• Train and develop the assigned staff on relevant skills to enable them to become proficient on the job and deliver the respective business objectives.

Budgets

• Provide input for preparation of the Function / Division / Department / Section budgets, assist in the implementation of the approved Budget, and work plans to deliver business objectives.
• Investigate and highlight any significant variances to support effective performance and cost control.

Policies, Systems, Processes & Procedures

• Implement approved Function / Division / Department / Section policies, processes, systems, standards and procedures in order to support execution of the work programs in line with Company and International standards.

Performance Management

• Contribute to the achievement of the approved Performance Objectives for the Function / Division / Department / Section in line with the Company Performance framework.

Innovation and Continuous Improvement

• Design and implement new tools and techniques to improve the quality and efficiency of operational processes.
• Identify improvements in internal processes against best practices in pursuit of greater efficiency in line with best industry standards in order to define intelligent solutions for issues confronting the function.

Health, Safety, Environment (HSE) and Sustainability

• Comply with relevant HSE policies, procedures, controls, applicable legislation, and sustainability guidelines in line with international standards, best practices and ADNOC Code of Practices.

Reports

• Provide inputs to prepare MIS and progress reports for Company Management.

3. COMMUNICATION & WORKING RELATIONSHIP

Internal

• VP Upstream Investment & Economic Analysis
• Upstream investment team

External

• Group Company finance staff as required
• External Consultants, if required

4. QUALIFICATIONS, EXPERIENCE, KNOWLEDGE & SKILLS

Minimum Qualification

• Bachelor’s degree in Economics, Finance, Engineering, or a related discipline.

Minimum Experience & Knowledge & Skills

• 10 years’ relevant experience in economic analysis, financial modelling, or investment evaluation within the oil and gas industry, with a focus on upstream activities.
• Demonstrated experience in economic evaluation of capital projects, business development, or M&A transactions.
• Exposure to working in or with large integrated oil and gas companies, or with international partners, is an advantage.

Knowledge & Skills

• In-depth knowledge of economic evaluation techniques, financial modelling, and investment appraisal methods relevant to the upstream oil and gas sector.
• Strong analytical, quantitative, and problem-solving skills, with the ability to handle complex data and provide clear recommendations.
• Proficiency in economic modelling tools, spreadsheet analysis, e.g., advanced Excel, and presentation of results.
• Understanding of upstream value chains, fiscal regimes, concession agreements, and industry best practices.
• Excellent communication and interpersonal skills, with the ability to influence and collaborate across multidisciplinary teams.
• Strong report writing and presentation abilities, capable of conveying complex economic findings to senior management.
• High attention to detail, integrity, and commitment to delivering quality work within tight deadlines.
• Ability to work independently and as part of a team in a dynamic, fast-paced environment.

Professional Certifications

• Postgraduate qualification, e.g., MSc, MBA, or equivalent, in Economics, Finance, Petroleum Economics, or a related field is preferred.