Join Venture Accountant

INEOS Belgium; London; On-site; GBP 60,000 - 85,000; Full time

Job summary

INEOS Belgium is seeking a Joint Venture Accountant based in London, responsible for managing the JV portfolio for E&P projects. The role includes performing complex accounting adjustments, ensuring compliance, and preparing financial reports. Ideal candidates will have a degree in Finance or Accounting, experience in the Oil & Gas industry, and proficiency with SAP. This is an on-site role in Chelsea office, fostering a collaborative team environment with key responsibilities across various financial operations.

Qualifications

• Degree in Finance, Accounting or equivalent required.
• Oil & Gas industry experience is particularly beneficial.
• Experience with SAP is preferred.

Responsibilities

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

Skills

Advanced Microsoft Excel

Analytical

Attention to Detail

Excellent Communication

Problem Solver

Team Player

Education

Degree in Finance, Accounting or equivalent

Tools

SAP

Job description

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.