Asset Manager at Oando Nigeria Plc

Oando PLC is one of Africa's largest integrated energy solutions providers with a proud heritage. It has a primary listing on the Nigerian Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.With shared values of Teamwork, Respect, Integrity, Passion and Professionalism (TRIPP), the Oando Group comprises six companies who are leaders in their market. At Oando, we always on the look out for highly skilled, enthusiastic and dedicated people who can contribute to our continuing success.

Vacancy Title: Asset Manager

Vacancy Code: AM///50035

Job Summary
The Asset Manager position in Oando Energy Resources (OER) serves as the business manager for designated OER’s Exploration and Production (E&P) assets. The incumbent is responsible for managing and preserving the intrinsic business value of the asset(s) under his/her purview. In this capacity, he/she acts as a commercial advisor to the COO to ensure professional delivery of deals, contracts and agreements. He/She will also be required to integrate and co-ordinate the requirements and inputs of disciplines such as engineering, field operations, finance, audit and legal counsel to ensure that OER’s best interests are served and value is maximised.

The position incumbent is required to work across the boundaries of the economics, business planning, technical and other commercial disciplines to ensure timely delivery, and priority setting of the assigned commercial work whilst securing fit for purpose quality deliverables. He/She would also be required to influence the development of a commercial mindset amongst support disciplines in key decision making processes, and deliver Cost Reduction and Production recovery in line with OER’s business Plan.

Specific Duties

• Responsible for the company’s exploration and production (E&P) interests in a number of assets/ventures were significant expenditures on new developments are projected.
  • Provide commercial input into Project Opportunity Framing Sessions.
  • Support in the development and design of Oando’s negotiation strategy, as well as implementation of best practises for negotiations and contracts.
  • Lead and resolve negotiations with external stakeholders as appropriate
  • Leverage value from existing commercial agreements.
  • Resolve commercial/legacy issues related to existing commercial agreements and support the development and implementation of commercial input to asset strategies.
  • Integrate across business functions the Oando View as input into the External Governance Meetings.
  • Support and provide input to new contracts and contract renewals / extensions
• Primary Interface for monitoring/steering and interfacing with the operators as and when required so as to maximize asset value (i.e., at “optimized cost”).
• Work jointly with the operator to ensure plans and processes are adjusted appropriately to reflect a dynamic business environment.
• Processing of crude entitlement, representation at curtailments and application for Exports, Crude lifting permits.
• Responsibility for Cross fertilizing ideas and lessons learnt. Maintain database & benchmarks for $/bbl UTC- unit technical costs, UDC- unit development Costs & UOC, Unit Operating costs.
• Ensure that agreements/contracts are adequately reflecting the company’s interests and as such will have input in these documents.
• Hold overall accountability for E&P assets, the reserves development, reporting and entitlements through its lifecycle
• Ensure that developments including drilling, completion, repairs, enhancements & optimizations are planned and implemented in a safe and responsible manner.
• Ensure development and operations in E&P assets conform to company standards and industry best practices.
• JV Liaison, ensure adequate representation from OER at JV meetings, including (but not limited to) the bi-annual Technical Committee and Operating Committee (aka TCM and OCM) meetings as organized by the operator, and MACOM and TECOM meetings held with the regulators.
• Secure OER’s approval of execution, modification or termination of any contract or arrangement for the purchase, sale, lease or acquisition, disposition or administration of goods or services, if not included in annual work program or budgets.
• Responsible for Partner relationship management
• Maintain Database of asset information
• Ensure (for NOVs), alignment with agreed Corporate Annual Business plan.
• Mentor / coach junior staff
• Other duties as assigned.

Key Perfomance Indicators

• Annual work program and budget performance
• Actual off take of forecast equity entitlement
• Cost of operations and effectiveness of asset utilization
• Safety levels/No. & cost of industrial accidents and environmental hazards that occur
• No. & cost of regulatory fines and penalties due to non-compliance
• Customer satisfaction levels
• Effectiveness of processes & systems in enabling the business
• $/bbl benchmarks

Qualifications & Experience

• 1st degree in Engineering, Finance, Investment Management, Business Administration, Economics or Accounting. MBA from a reputable institution of learning is an added advantage
• At least 12 years working experience in a broad range of positions in the upstream oil and gas industry, out of which the last 5 would have been in commercial and leadership roles.
• Has good knowledge of Petroleum Economics, Commercial Contracts and Agreements, Production Operations, Project Management, Annual Budget Planning, and Field Development Planning.
• Experienced in initiating, negotiating and closing out commercial deals, as well as maturation of hydrocarbon opportunities through the OORP.
• Ability to develop financial plans and manage resources. Ability to analyze and interpret financial data.
• Work requires professional written and verbal communication and interpersonal skills. Ability to communicate and interact with officials at all levels of government and other stakeholders, and to work effectively with a wide range of constituencies in a diverse community.
• Has experience dealing with legal and regulatory environment (e.g., agreements and contracts, permits)

Knowledge And Skills Required
Technical Skills

• A good understanding of the Nigerian Oil and Gas Industry
• Subsurface and Petroleum Engineering skills
• Technical aptitude and strong analytical skills
• Concurrent multiple project management capabilities
• Proven problem solver

Commercial Skills

• Business and commercial skills
• Basic Accounting (B/Sheet, P&L analysis, key ratios)
• Entrepreneurial Skills
• Negotiation and Contract Management

Leadership & People Management Skills

• Self-management and leadership skills
• Excellent team player and interpersonal skills
• Leadership/Supervisory
• Networking
• Political Savvy
• Performance Management
• Project Management
• Reporting
• Team playing
• Organization/Administration

Working Conditions

• Office based

Application Closing Date