Specialist Economic Model

ADNOC Group; Abu Dhabi; On-site; AED 300,000 - 540,000; Full time

Job summary

ADNOC Group in Abu Dhabi seeks an experienced Economic Model Specialist to develop and maintain fit-for-purpose economic models for refinery optimization, evaluate feedstock and product economics, and provide timely analyses to support procurement and operations.

You will coordinate with site teams, perform monthly margin analysis, track KPI deviations, and deliver scenario analyses to inform management decisions. A bachelor’s degree and 8+ years in economic modeling are required.

Qualifications

• Bachelor’s degree in Engineering, Science, Economics or related field.
• 8 years of experience in Economic Model Building and Interpretation in oil, gas, or petrochemical plants.
• Strong skills in LP planning models and spreadsheet-based financial models.
• Excellent communication and English; Arabic knowledge is preferable.

Responsibilities

• Develop fit-for-purpose economic models aligned with business needs.
• Maintain and update LP and economic models with plant data.
• Provide economic evaluation for feedstock and product decisions.
• Prepare monthly variance analysis and performance reports.
• Support refinery management with scenario analyses and KPI monitoring.
• Lead implementation of process improvements and best practices.

Skills

Business Analysis

LP planning models

Spreadsheet models

Optimization modelling

Oil & Gas knowledge

English proficiency

Arabic preferred

Education

Bachelor’s degree in Engineering, Science, Economics or equivalent

Job description

Job Description:

Job Purpose

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 Develops daily and weekly margin reports, monthly gross margin reports and retro analysis on plan vs actual performance. Carries out economic evaluation of crude condensate and other feedstock to support procurement decisions. Support commercial operations with timely economic evaluation as and when required.

Key Accountabilities

Fit for purpose Economic Models

• Confers 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

Economic Evaluations

• Carries out economic evaluation for feedstock purchases, product/intermediate sales, and any other

business cases as per requirement from time to time

Responsible to maintain auditable records for all decisions made through economic evaluation and maintains database of records.

Retro-Performance Analysis

• 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 when deemed necessary.

Economics Support to Site Teams

• 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

Generic Accountabilities 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 section objectives.

Budgets

• 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.

Policies, Systems, Processes & Procedures

• 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.

Performance Management

• Contribute to the achievement of the approved Performance Objectives for the 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 ISO 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 and applicable legislation and sustainability guidelines in line with international standards, best practices and ADNOC Code of Practices

Report

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

Qualifications, Experience, Knowledge & Skills

Minimum Qualification

Bachelor’s Degree in Engineering, Science, Business, Economics or equivalent; additional business qualification is an advantage.

Minimum Experience & Knowledge & Skills

• 8 years of experience in Economic Model Building and Interpretation, preferably in the oil, gas, or petrochemical plants

Skills:

• 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

Requirements: