Analyst, PSC & JV Reporting

Location: Kuala Lumpur
Job Function: Finance & Accounting
Employment Type: Permanent

The Analyst, PSC & JV Reporting reports directly to the Manager, PSC & JV Reporting and responsible:

  1. Prepare PSC Accounts (Quarterly Audited Accounts) and execute Joint Venture (JV) Partners Billing (JIB), Cash Calls, and related reporting in accordance with PSC & JOA agreements, as well as PETRONAS Procurement Standards (PPS) and Governing Standards (GS), where applicable.
  2. Participate in, facilitate, and support Host Government (HG) and JV Partners’ audits through to full closure.
  3. Provide support in fulfilling reporting requirements to Head Office and statutory bodies on a monthly, quarterly, and annual basis.
  4. Prepare revenue invoices including marketing, export duty related to crude oil, gas and any type of reimbursement within PSC as required.
  5. Collaborate closely with Finance teams to support reporting requirements, including Petroleum Income Tax Act (PITA) submissions and monthly/quarterly tax provisions.

 

KEY ACCOUNTABILITIES

  1. Month end book close
    • Prepare and process accruals in SUN System by PSC, PSC contractual payments, revenues.
    • Collaborate with the Corporate Reporting team to support closing activities, including cost allocations.
    • Prepare Statement of Expenditure (SOE), internal Monthly Entitlement and Offtake (MEOT), oil and gas revenue template, net production template where applicable
    • Prepare analytical reports for Corporate Reporting, including production, price-volume analysis, taxes, and other income
    • Perform PSC bank transaction against bank statement reconciliation for month end closing.
  2. Partner Reporting
    • Cash Call
      • Request information from Business Unit users monthly cash payment estimation.
      • Estimate monthly supplemental payment and research cess.
      • Prepare cash call report from information received for manager, Head of Finance and CEO approval.
      • Reconcile and record Partners’ Cash Calls in the SUN System.
      • Actively participated with JV Partners in answering cash call’s queries.
  3. Joint Interest Billing (JIB)
    • Prepare JIB statements from SUN System.
      • Perform reconciliation of Accrual Ledger and Cash Ledger for all PSCs.
      • Monitor and ensure over/under call position matches to the respective PSCs’ bank balances.
      • Analyze Billable/None-Recoverable (BN) activities
    • Partners MEOT
      • Prepare Partners MEOT based on actual information received (Production and Lifting).
      • Reconcile closing stock to Terminal Report, Internal MEOT and Quarterly Audited Account (QAA).
      • Send the reports to JV Partners and Commercial team for crude slating / lifting plans.
    • AFE Report
      • Submit AFE Report to JV Partners
      • Coordinate with the Planning Team for AFE data consolidation and collation.
  4. Host Government & Quarterly Reporting
    • Prepare Quarterly Audited Account (QAA) filings in compliance with PETRONAS Governing Standards (GS) requirements and PSC Agreement and submit timely.
    • Provide support to external auditors during the audit fieldwork.
    • Prepare quarterly reconciliation between SOE and JIB and nature of Billable/None-Recoverable (BN) activities.
    • Prepare Restatement Account upon finalization of recoverable cost.
    • Prepare and submit e-Cost to HG Petronas as per GS requirements.
  5. Billing & Invoicing
    • Prepare monthly Oil and Gas billing invoice to JV Partners and HGs.
    • Maintain accurate records of accruals and actual invoices.
    • Submit gas export declarations to Kastam Malaysia (online and offline) in a timely manner.
    • Prepare Monthly & Quarterly Expense Report for Kinabalu Associated Gas and prepare invoice (back charge) for relevant costs to JV Partners.
    • Prepare billing for any sharable cost as agreed with JV Partners.
  6. Ad hoc support
    • Perform Cash Ledger analysis to ensure cash expenditures correctly report.
    • Prepare PITA related items for IRB tax submission.
    • Provide support for all audits by the HGs, JV Partners, external auditors for Financial Statements and QAA and tax authorities.

 

REQUIREMENTS AND QUALIFICATIONS

  • Possess at least a bachelor’s degree in accounting or equivalent qualification from recognized universities /academic institution.
  • Minimum 4 years of experience in financial accounting and reporting in a similar capacity.
  • Recognized professional accounting qualification (e.g. ACCA, CPA) is preferred.
  • Experience in the upstream oil and gas industry is preferred.
  • Familiarity with Production Sharing Contract (PSC) and Joint Venture (JV) environments is highly desirable.
  • Strong knowledge of International Financial Reporting Standards (IFRS) or relevant accounting standards.
  • Ability to work effectively in a multi-disciplinary, cross-cultural environment, as well as independently with minimal supervision.
  • Strong communication, interpersonal, and presentation skills.

 

Apply Now