Petroleum Economist

Elsa Talent; Kuala Lumpur; On-site; MYR 120,000 - 190,000; Full time

Job summary

Elsa Talent in Kuala Lumpur is seeking a Senior Economic Analyst for upstream oil & gas economics. You will develop and maintain economic models for producing assets and new development projects, and evaluate the commercial viability of brownfield projects.

You will perform valuation analyses (NPV, IRR, breakeven, sensitivities), assess uncertainty, support capital allocation discussions, and collaborate with subsurface, wells, facilities, finance, and commercial teams to deliver clear

Qualifications

• Degree in Economics, Finance, Engineering or related discipline.
• Minimum 5 years' experience in upstream oil & gas economics or commercial roles.
• Experience with Malaysia PSC fiscal regimes is essential.
• Experience in asset evaluation and project economics.
• Advanced proficiency in Microsoft Excel and PowerPoint.
• Experience with industry-standard economic tools such as PEEP, Aries, PHDWin.
• Working knowledge of automation or programming tools (e.g. VBA, Python) is an advantage.
• Familiarity with sensitivity, scenario, and uncertainty analysis.
• Strong analytical and problem-solving skills.
• Good understanding of upstream value drivers and cost structures.

Responsibilities

• Develop and maintain economic models for producing assets and new development projects.
• Evaluate commercial viability of brownfield projects, including infill drilling, workovers, tie-backs, and redevelopment opportunities.
• Perform valuation analysis (NPV, IRR, breakeven, sensitivities) to support decision-making.
• Assess the impact of technical, cost, and production uncertainties on asset value.
• Support capital allocation discussions through comparative economic analysis.
• Contribute to business planning, budgeting, and portfolio reviews.
• Selective Opportunity Screening – evaluate near-field and incremental opportunities.
• Work closely with subsurface, wells, facilities, finance, and commercial teams to integrate inputs into economic models.
• Translate technical inputs into clear commercial insights for decision-making.

Skills

Economic modelling

Excel

PowerPoint

Python/VBA

Sensitivity analysis

Uncertainty analysis

Communication

Teamwork

Education

Degree in Economics, Finance, Engineering or related discipline

Tools

PEEP

Aries

PHDWin

Job description

• Economic Evaluation & Asset Value Optimisation
  • Develop and maintain economic models for producing assets and new development projects.
  • Evaluate commercial viability of brownfield projects, including infill drilling, workovers, tie-backs, and redevelopment opportunities.
  • Perform valuation analysis (NPV, IRR, breakeven, sensitivities) to support decision-making.
  • Assess the impact of technical, cost, and production uncertainties on asset value.
• PSC Fiscal Analysis (Malaysia)
  • Apply and interpret Malaysia PSC fiscal regime, including cost recovery, profit sharing, tax structures and incentives.
  • Ensure accurate representation of PSC terms in economic models.
  • Support identification of opportunities to optimise value within PSC frameworks.
• Analyse asset performance and identify value enhancement opportunities.
• Support capital allocation discussions through comparative economic analysis.
• Contribute to business planning, budgeting, and portfolio reviews.
• Selective Opportunity Screening
  • Support evaluation of near-field and incremental opportunities within or adjacent to existing assets.
  • Provide economic inputs into opportunity screening and benchmarking activities.
• Work closely with subsurface, wells, facilities, finance, and commercial teams to integrate inputs into economic models.
• Translate technical inputs into clear commercial insights for decision-making.

Requirement

• Degree in Economics, Finance, Engineering or related discipline.
• Minimum 5 years' experience in upstream oil & gas economics or commercial roles.
  
• Experience working with Malaysia PSC fiscal regimes is essential.
  
• Experience in asset evaluation and project economics.
• Strong economic and financial modelling capabilities.
• Advanced proficiency in Microsoft Excel and PowerPoint.
• Experience with industry-standard economic tools such as:
  • PEEP (Petroleum Economic Evaluation Package)
  • Aries, PHDWin or equivalent
• Working knowledge of automation or programming tools (e.g. VBA, Python) is an advantage.
• Familiarity with sensitivity, scenario, and uncertainty analysis.
• Strong analytical and problem-solving skills.
• Good understanding of upstream value drivers and cost structures.
• Ability to assess uncertainty and generate practical insights.
• Strong team player with ability to work in multi-functional teams.
• Effective communicator, able to simplify technical concepts.
• Proactive, detail-oriented, and delivery-focused.