Petroleum Economist

ELSA; Kuala Lumpur; On-site; MYR 180,000 - 280,000; Full time

Job summary

ELSA seeks an experienced economist to lead upstream oil & gas economics and commercial analysis in Kuala Lumpur. You will develop and maintain economic models for assets and new developments, evaluating NPV, IRR, and sensitivities to support decision-making.

You will apply Malaysia PSC fiscal regimes, optimise value within PSC terms, and collaborate with subsurface, wells, facilities, finance, and commercial teams to translate technical inputs into actionable insights.

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.
• Strong economic and financial modelling capabilities.
• Advanced proficiency in Excel and PowerPoint.
• Experience with PEEP, Aries or PHDWin is preferred.
• Familiarity with VBA, Python is advantageous.
• Ability to perform sensitivity and scenario analyses.

Responsibilities

• Develop and maintain economic models for producing assets and new development projects.
• Evaluate commercial viability of brownfield projects including infill drilling and redevelopments.
• Perform valuation analysis (NPV, IRR, breakeven, sensitivities) to support decisions.
• Assess impact of technical, cost, and production uncertainties on asset value.
• Apply and interpret Malaysia PSC fiscal regime details in models.
• Support identification of opportunities to optimise value within PSC frameworks.
• Analyse asset performance and support capital allocation discussions.
• Provide economic inputs into opportunity screening and benchmarking activities.
• Collaborate with subsurface, wells, facilities, finance, and commercial teams to translate inputs into commercial insights.

Skills

Economic modelling

Financial analysis

NPV/IRR

Sensitivity analysis

PowerPoint

Excel

Python

VBA

Team player

Communication

Education

Degree in Economics/Finance/Engineering

Tools

PEEP (Petroleum Economic Evaluation Package)

Aries

PHDWin

Job description

Responsibilities

• 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.
• Portfolio Performance & Analysis
  • 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.
• Collaboration & Integration
  • 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.