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Join Venture Accountant

INEOS Energy

London

On-site

GBP 50,000 - 70,000

Full time

7 days ago

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Job summary

INEOS Energy is seeking a Joint Venture Accountant to manage the JV portfolio in E&P projects within the UK. This role includes responsibilities such as performing accounting adjustments, handling revenue, and ensuring compliance with financial regulations. The ideal candidate will possess a degree in Finance or Accounting, along with strong analytical and communication skills. The position is based on-site at the Chelsea Office, supporting a dynamic and growing team in the Oil and Gas industry.

Qualifications

Finance or Accounting degree required.
Industry experience in Oil & Gas is beneficial.
Strong proficiency in Microsoft Excel and SAP.

Responsibilities

Perform monthly accounting adjustments for complex agreements.
Handle revenue calculations, invoicing, and reporting.
Ensure accounting compliance of Carbon credits.

Skills

Analytical

Attention to detail

Problem solving

Team player

Communication skills

Advanced Microsoft Excel

Education

Degree in Finance, Accounting or equivalent

Tools

SAP

At INEOS Energy we produce and trade oil, gas, power, liquefied natural gas (LNG) and carbon credits. This is supported by our investments in low carbon technologies, which will help sustain our business through the energy transition. Direct examples of these areas are ‘Project Greensand’, our pioneering carbon storage project in the Danish North Sea and our investment in HydrogenOne Capital.

We are currently recruiting for a Joint Venture (JV) Accountant on a permanent basis. The JV Accountant is responsible for the JV portfolio for operated and non-operated E&P projects within the UK business.

The role reports directly into the Financial Reporting Manager.

Responsibilities And Accountabilities

Perform monthly accounting adjustments for complex commercial agreements, for example SKIFF, Condensate Gas ratio
Handle all revenue calculations, journal postings, invoicing and reporting, ensuring collaboration with the Commercial, Operations and Oil Trading teams
Calculate the borrowing & lending position across the assets in line with group revenue recognition policies
Responsible for month end close activity for operated and non-operated assets (opex, tariffs, capex and decom postings) as well as calculation of accruals and prepayments of overheads such as insurance
Ensure accounting compliance of Carbon credits in line with group and IFRS Emissions trading schemes
Responsible for preparing and issuing Operated Joint Venture billings for operated assets and acting as the finance point of contact for partner queries
Monitor customer receipts and follows ups as a reminder of the due payment dates to customers / JV partners
Finance lead for Greater Laggan Area and Mature Assets; supporting the asset manager in audit process and communications
Process and monitor Non-Operated JV expenditure against budget / forecast and AFE
Produce high quality monthly KPI information - including Cash capital expenditure, decommissioning and revenue analysis
Produce monthly financial reports for Upstream businesses, comparing actual spend against budget and forecast, challenging the results to ensure that accruals and prepayments are correctly captured
Reporting and calculating the decommissioning provisions by asset / project
Reviewing weekly supplier payment runs
Reconcile relevant Balance Sheet accounts on a quarterly basis
Perform and coordinate the month-end SAP activities (Including FX rates updates, Batch Input checks, Cutback)
Assist with the six-month PRT returns
Complete and submit yearly Data Holder Notice to HMRC
Assist with Audit team for Group and Statutory Audit and lead the Joint Venture audits
Undertake ad-hoc projects

Education, Skills & Knowledge Required

Degree in Finance, Accounting or equivalent.
Oil & Gas industry experience is particularly beneficial
Experience with SAP
Advanced Microsoft Excel skills
Highly numerate with a high degree of accuracy and attention to detail
Analytical
Excellent communication skills (written and verbal)
Keen problem solver
Team player

This role is based on-site at our Chelsea Office, five days per week.

Seniority level

Seniority level
Not Applicable

Employment type

Employment type
Full-time

Job function

Job function
Accounting/Auditing and Finance
Industries
Oil and Gas

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