Economics and Strategy Engineer

Saudi Aramco

Saudi Arabia

Ref: KP658-568

Job description / Role

Employment: Full Time

Aramco energizes the world economy.

Aramco occupies a unique position in the global energy industry. We are the world's largest producer of hydrocarbons (oil and gas), with the lowest upstream carbon intensity of any major producer.

With our significant investment in technology and infrastructure, we strive to maximize the value of the energy we produce for the world along with a commitment to enhance Aramco's value to society.

Headquartered in the Kingdom of Saudi Arabia, and with offices around the world, we combine market discipline with a generations' spanning view of the future, born of our nine decades experience as responsible stewards of the Kingdom's vast hydrocarbon resources. This responsibility has driven us to deliver significant societal and economic benefits to not just the Kingdom, but also to a vast number of communities, economies, and countries that rely on the vital and reliable energy that we supply.

We are one of the most profitable companies in the world, as well as amongst the top five global companies by market capitalization.

Job Purpose

We are seeking an experienced Economics and Strategy Engineer to join our Unconventional Reservoir Engineering Department (URED). We require a Petroleum Engineer with an in-depth knowledge in economic evaluation, business planning and budgeting, field development and depletion plans and investment decision analysis, including risk and uncertainty. URED provides high-level technical support to upstream management in all areas related to unconventional field development within the Kingdom. This role requires both depth and breadth of critical technical expertise, managerial acumen and exceptional communication skills. Your primary role is to provide strategic options for unconventional development with emphasis on economic evaluation. You will apply holistic modeling and decision analysis techniques to support value optimization of the full upstream portfolio within the Company's upstream strategy.

Key Responsibilities

You will be required to perform the following:

• Carry out economic modeling for ongoing development as part of commerciality assessment.
• Perform economic evaluation to support fast-paced development decisions and work closely with Corporate Finance, Strategy, and Reserves groups.
• Carry out risk and uncertainty assessments of technical and financial components.
• Perform specific scenario planning and sensitivity studies, as directed by management.
• Closely work with multidisciplinary teams to strategize and implement field development plans.
• Conversant with reserves estimation, validation, and booking for unconventional plays.
• Familiar with business planning process. Short and long range planning and portfolio ranking.
• Provide economic and operational benchmarking of North American Unconventional Plays.
• Develop and implement new work processes, best technical practices, governance, and controls.
• Coach and mentor less experienced Saudi engineers and effectively explain ideas, concepts, and techniques.


Education & Experience Requirements

• As the successful candidate you will have a bachelor's degree in Petroleum Engineering or a related science. An advanced degree in petroleum economics or statistics would be an advantage. You will have at least 15 years' experience with a minimum of 5 years in unconventional plays, including shale, tight sand, or channel reservoir. Experience working in U.S. or Canadian unconventional hydrocarbon basins is required.
• Knowledge of the following applications (or similar) is a requirement: PEEP, MOSAIC, Enersight, PVTsim, ProjectRA, and Spotfire.
• Experience with unconventional green field development is preferred.
• Preferred skills include: the ability to work in a fast paced environment and handle ambiguity in analysis, strong computer and data analysis/statistical skills, visualization with Spotfire, proficient with economic sensitivities along with business planning acumen, solid organizational and time management skills, the ability to generate management reports and a broad knowledge in drilling simulation and production technologies.

Working environment

Our high-performing employees are drawn by the challenging and rewarding professional, technical and industrial opportunities we offer, and are remunerated accordingly.

At Aramco, our people work on truly world-scale projects, supported by investment in capital and technology that is second to none. And because, as a global energy company, we are faced with addressing some of the world's biggest technical, logistical and environmental challenges, we invest heavily in talent development.

We have a proud history of educating and training our workforce over many decades. Employees at all levels are encouraged to improve their sector-specific knowledge and competencies through our workforce development programs - one of the largest in the world.

About the Company

Saudi Aramco is an integrated global energy enterprise. The company markets and exports crude oil, petroleum products, natural gas liquids and sulfur. It also ships crude oil worldwide through an affiliated company and participates in petroleum refining and marketing activities at home and abroad. Its overseas affiliates are in the United States, Egypt, the Philippines, the Republic of Korea and Japan.

Saudi Aramco's subsidiaries span the globe, with offices in Houston, Washington, New York, London, Leiden, Dubai, Singapore, Beijing, Hong Kong, Tokyo and Seoul.

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Engineer salaries in Saudi Arabia

Average monthly compensation
SAR 13,000

Breakdown available for industries, cities and years of experience