The Cyprus Hydrocarbons Company (CHC) is the National Oil & Gas Company of Cyprus, established in March 2014. CHC is accountable for the commercial management of the ownership rights of the Republic of Cyprus (RoC) deriving from the Production Sharing Contracts (PSC's) that the RoC has entered into with Licensees in the Exclusive Economic Zone (EEZ) of the RoC. CHC may also, under the guidelines issued by the Council of Ministers, participate with an ownership interest in potential LNG infrastructure and in upstream natural gas transmission pipelines owned or acquired by the RoC. The operations of CHC may also expand to include owning participating interests, asset management, and performing hydrocarbons exploration and exploitation operations.
CHC additionally supports the Ministry of Energy, Commerce and Industry (MECI) with
Negotiations with potential Contractors for the conclusion of PSCs
Assessments of the RoC EEZ hydrocarbon resource potential and materiality established from exploration seismic and drilling activities. Undertaking economic analysis to evaluate commerciality of hydrocarbon discoveries in the RoC EEZ.
Lifecycle maturation evaluation and assurance of key Front-End deliverables provided by the Contractors in the PSCs, leading to Declarations of Commerciality, Concept Selection and Final Investment Decisions. Providing rigorous risk assessment for full lifecycle Major CAPEX Project delivery
Position Purpose
Under the supervision of the Commercial Director the Commercial Advisor (Economist) will support and coordinate the commercial activities of the Company, including marketing and sales of the government share of produced hydrocarbons.
Amongst others, the key goals and responsibilities of the Commercial Team is:
Implementation of the commercial strategy of the Company which includes the monetization of Gas discoveries in Cyprus.
Responsible for commercial and financial assessment of the field development lifecycle protecting value for the Republic of Cyprus
Responsible for market monitoring, analysis and Intelligence.
Ensure that commercial practices comply with industry and EU regulatory requirements.
Ensures that commercial risks are identified, mitigated and constantly monitored.
Key Responsibilities
The successful candidate will be part of the established Commercial Group responsible for
Driving quality economic evaluations and robust decision making recommendations that create value which can be incorporated in commercial deal making and, provision of thought provoking quantitative and qualitative insights, communicated efficiently, in simple language and with attention to detail in analysis and presentation
Undertaking timely full lifecycle (exploration, appraisal and development) project evaluation modelling analysis and presenting same to the Director General, Commercial and Technical Directors
Interfacing effectively with commercial and technical teams in CHC to rigorously identify risk and uncertainty scenarios
Providing investment follow up and reviews
Effectively working through capital structure & allocation, project evaluation processes, developing cash flow models and applying meaningful investment evaluation KPIs
Participating in and supporting commercial agreement negotiations such as long term gas sales negotiations
Working with the economic models from the operators in the Cyprus EEZ but ultimately building CHC’s own independent economic model to allow for multiple projects
The successful candidate will be expected to act as an individual contributor delivering high quality work for the team.
Candidate Requirements
a. Qualifications and Professional experience:
Bachelor’s Degree of Economics, Petroleum Engineering, Finance, Business, Mathematics, or related fields).
Minimum of 6 years of relevant professional experience in business and economic modelling/analysis, ideally in the Oil and Gas Industry with responsibilities directly relevant to the post and the overall activities of the Commercial Team of CHC as outlined above. Commensurate hands on experience of constructing, modifying and reviewing Excel based DCF models and financial economic models.
b. Other Skills
Preferred candidates will have knowledge of at least one of the following activities: reservoir characterisation, petroleum development, business development planning in the extractive resources sector, reservoir surveillance, reserves assessment and economic evaluation
Computer: Fluent with MS Excel and MS Powerpoint, including the use of economic models and database systems
Commercially minded with highly numerical and analytical ability, preferably obtained from in the Oil & Gas or other extractive industry in a staff or advisory capacity.
Language: Fluent in English, both written and spoken, preferred fluency in Greek, both written and spoken.
Goal-oriented, delivery-minded and proactive individual seeking for Continuous Improvement
Excellent interpersonal skills at all levels of an organization
A commitment to clear, simple to understand and effective communication in person, in writing and through data visualisation
Attention to detail in both analysis and presentation
Curiosity and a desire to understand what drives project values
What We Offer
Salary range from EUR 45k-60k*, subject to qualifications and experience .
* The starting salary for this scale range is between €45k - €51.750 based on the assessment of experience
Pension Plan
Continuous professional development and unique career growth for all our team be they interns or our core early to late career professionals – via leading international institutions dedicated to providing upto date discipline specialism or leadership training required by CHC.
The unique opportunity to apply your creativity and talents in a unique work environment that spans the hydrocarbon maturation cycle end to end, with the potential for both broad and deep exposure to a senior level.
A great place to work.
How to Apply
Application Process:
For applications to be valid, candidates must submit:
1. A recent CV.
2. Personal statement approximately a single page (800 words).
3. Copies of educational and professional qualifications.
The Cyprus Hydrocarbons Company (CHC) was established in March 2014 to act as the Commercial and Technical arm of the Government of Cyprus on matters relating to the exploration, production and monetization of oil and gas from the Exclusive Economic Zone (EEZ) of Cyprus.
CHC’s main responsibility is the marketing and sales of the share of hydrocarbons attributable to the RoC. At the same time, CHC supports the Ministry of Energy, Commerce and Industry in engagements with Licensees through their exploration, development, and operation activities in the Cyprus EEZ.
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