Petroleum Economist

PE Global (UK); Saudi Arabia; On-site; SAR 80,000 - 150,000; Full time

Job summary

An established industry player in the oil and gas sector is seeking a Petroleum Economics Specialist to enhance their upstream development strategy. This role involves leading the conceptualization and commercial assessment of oil and gas field developments, focusing on long-term reservoir management and economic evaluations. The position offers a competitive, tax-free salary, comprehensive medical coverage, and subsidized housing in a vibrant expatriate community. With opportunities for career development and exposure to cutting-edge technologies, this role promises to be both rewarding and impactful for the right candidate.

Benefits

Competitive salary with uplift

Tax-free salary

Subsidized housing

Comprehensive medical coverage

Repatriation allowance

Education reimbursement

Career development programs

Fully supported relocation

Qualifications

• 10+ years in oil and gas consulting or E&P companies.
• Expertise in reservoir development and depletion planning.

Responsibilities

• Lead conceptualization of oil and gas field developments.
• Conduct economic evaluations and decision analysis.

Skills

Reservoir Characterization

Business Planning

Investment Decision Analysis

Risk Assessment

Strategic Production Planning

Education

BS in Petroleum Engineering

Advanced degree in Petroleum Economics

Advanced degree in Finance

Job description

**********Please only apply if you are an EU/UK Passport holder**************

**********Please note this role requires relocation to Saudi Arabia*************

Overview:

We are seeking a Petroleum Economics Specialist to join the Upstream Development Strategy & Reserves Department (UDS&RD) of a market-leading Oil and Gas organization based in Saudi Arabia. The organization manages one of the world’s largest portfolios of onshore and offshore oil and gas fields. UDS&RD provides high-level technical support across the full range of hydrocarbon exploration and production activities, including economic optimization of the entire resource portfolio, pioneering studies, new technologies, and innovative development solutions.

Responsibilities:

The Petroleum Economics Specialist will lead the conceptualization of oil and gas field developments and their commercial assessments. This includes focusing on long-term reservoir development, depletion planning, and economic evaluations, as well as holistic corporate modeling and decision analysis to support field development plans, portfolio capacity management, and techno-economic studies.

Key Requirements:

• BS in Petroleum Engineering; advanced degrees in Business, Petroleum Economics, Finance, or related fields are highly beneficial.
• 10+ years of experience in reputable oil and gas consulting or E&P companies, specializing in reservoir characterization, development architecture, business planning, surveillance & monitoring, reserves assessment, and economic evaluations.
• Experience working in large organizations with varied reservoir portfolios or in smaller companies with broad experience.
• Expertise in oil and gas reservoir development and depletion planning.
• Experience in investment decision analysis, risk and uncertainty assessment, strategic long-term production planning, and portfolio analysis.
• Proven ability to present to executive management and large audiences.

What We Offer:

• Competitive salary with meaningful uplift.
• Additional expatriate uplift due to relocation requirements.
• Benefits supplement (monthly pension-like payment for personal arrangements).
• Tax-free salary.
• Subsidized housing with facilities such as private beaches, golf, sailing clubs, equestrian centers, gyms, pools, cinemas, malls, and bowling.
• Comprehensive medical coverage including general health, clinics, emergencies, and pharmacies.
• Repatriation allowance with annual flight allowances for individuals and families.
• High-standard education options with reimbursement for private or overseas schooling.
• Career and personal development programs with exposure to latest technologies and methodologies.
• Fully supported and subsidized relocation to KSA.

Interested candidates are encouraged to send their CVs for review to [e-mail] or visit www.peglobal.net for more information.