Economist, Upstream

Prax Group; Weybridge; On-site; GBP 60,000 - 80,000; Full time

Job summary

The Prax Group is seeking an Upstream Economist to analyze market trends and provide insights on upstream operations. This role involves conducting economic evaluations, collaborating with experts, and preparing impactful reports. Join a leading company in the energy sector and contribute to innovative solutions.

Benefits

Career growth opportunities

Supportive environment for learning and development

Qualifications

• Minimum 5 years of experience in economic analysis in the upstream oil and gas sector.
• Proven expertise in commodity market analysis and pricing strategies.
• Strong proficiency in economic modeling and financial analysis tools.

Responsibilities

• Conduct economic evaluations of upstream projects from exploration to production.
• Collaborate with technical and financial experts to assess new projects.
• Prepare reports showcasing key performance indicators for senior leadership.

Skills

Economic Analysis

Market Forecasting

Data Management

Communication

Collaboration

Education

Degree in Economics, Finance, or Petroleum Engineering

Master’s degree (preferred)

Tools

Excel

Power BI

Job description

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Weybridge, GB, KT13 0JT

Exciting Opportunity: Upstream Economist at The Prax Group, Weybridge Surrey

The Prax Group, a leading British multinational conglomerate, is a trailblazer in the global energy market, specializing in refining, storage, distribution, and sales of crude oil, petroleum products, and biofuels. Headquartered in London, we pride ourselves on delivering innovative customer solutions worldwide and are committed to upholding excellence, integrity, and philanthropy in everything we do. As we continue to grow, we are looking for an exceptional Upstream Economist to join our dynamic team in the oil and gas sector.

This is an exciting opportunity for a forward-thinking and results-driven professional to bring their expertise to the table, analyze market trends, forecast economic outcomes, and provide key insights on upstream operations including exploration, production, and asset development. In this role, you'll directly influence investment decisions and strategies, playing a pivotal role in the future of our business.

What You’ll Be Doing:

As an Upstream Economist, you’ll be at the heart of driving economic decisions across the business. Your role will include:

Economic Analysis & Forecasting:

• Conduct in-depth economic evaluations of upstream projects, from exploration through to field development and production optimization.
• Shape the future of our operations by creating long-term forecasts for oil and gas production, costs, and prices.
• Use your sharp analytical skills to assess market trends, economic indicators, and regulatory shifts that affect upstream activities.

Project Evaluation & Decision Support:

• Collaborate with technical, engineering, and financial experts to assess and evaluate new and existing upstream projects.
• Support senior management by providing insightful business cases, risk assessments, and capital expenditure analyses to guide investment decisions.
• Keep your finger on the pulse of the global oil and gas market and use your insights to develop competitive strategies.
• Advise on pricing strategies and help shape our approach to upstream product pricing based on supply-demand trends.

Data Management & Reporting:

• Be the driving force behind gathering and analyzing economic data to provide actionable insights.
• Prepare clear and impactful reports for senior leadership, showcasing key performance indicators and financial performance.
• Identify potential risks related to upstream activities—ranging from price volatility to regulatory changes—and help the team mitigate these risks with proactive strategies.

Collaboration & Stakeholder Engagement:

• Work closely with internal teams—geologists, engineers, financial analysts, and executives—to align economic strategies with business goals.
• Engage with key external stakeholders, from government agencies to market analysts, ensuring we stay ahead of regulatory and market developments.

What We’re Looking For:

Qualifications & Experience:

• A degree in Economics, Finance, Petroleum Engineering, or a related field. A Master’s degree is a plus.
• Minimum 5 years of experience in economic analysis or project evaluation within the upstream oil and gas sector.
• Proven expertise in commodity market analysis, including forecasting oil and gas prices and trends.
• Knowledge of UK regulatory regimes and recent taxation changes would be an advantage.
• Strong proficiency in economic modeling and financial analysis tools (Excel, Power BI, or specialized software).
• Familiarity with industry-standard economic evaluation techniques (NPV, IRR, etc.) and upstream project economics.
• A sharp eye for detail and the ability to make data-driven decisions under pressure.
• Outstanding communication skills to translate complex economic data into clear, actionable insights.
• A collaborative spirit and a passion for staying up-to-date with market trends.

Preferred:

• A deep understanding of upstream production systems and economic factors like reserve modeling and cost structures.
• Experience with large-scale data sets and advanced analytical tools.
• Familiarity with the regulatory frameworks that shape the oil and gas industry.

Why Join The Prax Group?

At The Prax Group, we believe in fostering talent and providing career growth opportunities. As an Upstream Economist with us, you will have a direct impact on shaping the future of our business. We offer a supportive environment, opportunities for learning and development, and the chance to be part of a global leader in the energy sector.

Ready to take your career to the next level? Apply today and become part of a team committed to innovation, excellence, and making a difference!