Specialist, Economic Model
ADNOC Group
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Job summary
ADNOC Group is seeking a Senior Economic Modeler to develop and maintain fit-for-purpose economic and linear programming models for the production optimization function.
The role involves coordinating with refinery sites to capture actual yield patterns, material balances, and process constraints, and delivering analyses to identify margin improvements and continuous performance enhancements.
Qualifications
- Minimum Bachelor’s degree in Engineering, Science, Business, Economics or equivalent.
- Experience building and interpreting economic models for refinery/processing environments.
- Strong Excel-based modeling and data analysis capabilities.
Responsibilities
- Build and maintain fit-for-purpose economic and LP models to represent refinery constraints.
- Update pricing data and constraints for accurate economic evaluation.
- Provide economic analysis for feedstock purchases, product sales, and project cases.
- Prepare supporting documentation and presentations for decision making.
- Coordinate with site teams to capture actual performance and identify margin improvements.
- Support monthly variance analysis and KPI tracking for refinery performance.
Skills
Education
Tools
Job description
Ensures developments of fit-for-purpose economic models as per business needs and ensures that all
Ensures developments of fit-for-purpose economic models as per business needs and ensures that all
Economic models required for the production optimization function are up to date.
Responsible for effective use of these models in economic evaluations of feedstock and product
imports/exports.
Provide necessary support to maintain all Economics and Planning models up-to-date with actual plant
operating conditions and develop any new model(s) required for the business from time to time, act as the focal
point at Site coordinating with refinery to get actual yield patterns, actual material balance and process
constraints track, monitor and analyze actual refinery performance based on real time and historical data and
highlights any suboptimal operation, margin improvement opportunity to the concerned
- Confere within SCMD team to ensure accurate representation of all operating constraints in LP model
- Carry out LP and economic model enhancements to ensure fit-for-purpose models
- Ensure all business constraints and pricing data is updated in the models to derive accurate results
- Develops economic models required for evaluation of various intermediate and products
sales/purchases
- Carries out economic evaluation for feedstock purchases, product/intermediate sales, and any other
business cases as per requirement from time to time
- Develops required supporting documentation for commercial dealings as per requirement
- Develops presentation for OC/OSC to support commercial decision making, based on requirement
- Responsible to maintain auditable records for all decisions made through economic evaluation and
maintains database of records
- Support Sr. Specialist, Economic Model in preparing Monthly Variance Analysis of the refinery actual
performance, explaining deviations e.g., yield pattern, quality giveaway etc., identify opportunities for
improvement and ensure implementation.
- Monitor product quality KPI's, unit yield pattern & component quality deviations and provide suggestions
to reduce the gap
- Track margin losses resulting from planned & unplanned shutdowns and from process limitations.
- Coordinate with concerned at sites to obtain actual unit yield patterns, hydrogen balances.
- Monitor Plan implementation and raises concerns regarding deviations. Review and revise the set
capacities and operating parameters for various units in line with economic indicators as and
deemed necessary.
- Oversee PIP (Profit Improvement Plan) program at sites, update Tracker and ensure effective
management of the same
- Perform economic analysis of process constraints as and when needed in consultation with Sr.
Specialist, Economic Model.
- Support Sr. Specialist, Economic Model to carry out different scenario analysis for planned/ unplanned
shutdowns/ slowdowns/ process constraints to assess production/ margin impact.
- Promote crude and product market awareness and Process unit economics trends to Refinery
managers and operation team - Weekly Economics Presentation to Refinery management
- 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 section objectives.
- Provide input for preparation of the Department/ Section budgets and assist in the implementation of the
approved Budget and work plans to deliver Section objectives.
- Investigate and highlight any significant variances to support effective performance and cost control.
- Implement approved Department / Section policies, processes, systems, standards and procedures in
order to support execution of the Department / Section’s work programs in line with Company and
International standards.
- Comply with all applicable legislation and legal regulations.
- Contribute to the achievement of the approved Performance Objectives for the Department / Section in
line with the Company Performance framework.
- 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 ISO standards in order to define intelligent solutions for issues confronting the function.
- Comply with relevant HSE policies, procedures & controls and applicable legislation and sustainability
guidelines in line with international standards, best practices and ADNOC Code of Practices
- Provide inputs to prepare Section MIS and progress reports for Company Management
Bachelor's Degree in Engineering, Science, Business, Economics or equivalent; additional business
qualification is an advantage.
- 8 years of experience in Economic Model Building and Interpretation, preferably in the oil, gas, or
petrochemical plants
- Business Analysis
- Experience in Linear Programming planning models of Refineries
- Construction of economic and financial spreadsheet models
- Optimization modelling using spread sheets and/or linear programming models. Report writing and
presentation skills
- Knowledge of the Oil and Gas Industry.
- Excellent communication and interpersonal skills.
- Proficient in verbal and written English. Knowledge of Arabic is preferable
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