Job Description

Analyst, PSC & JV Reporting

DUTIES AND RESPONSIBILITIES

• Prepare PSC Accounts (Quarterly Audit Account) and execute the Joint Venture (JV) Partners Billing (JIB), Cash Call and other reporting in accordance with PSC & JOA agreements, PETRONAS Procurement Standards (PPS) and Governing Standards (GS) guidelines. 
• Involve, facilitate, and participate in Host Governments (HG) and JV Partners audits until full closure.
• Provide support to fulfil reporting requirements to head office and statutory bodies on monthly, quarterly, and annual basis.
• Prepare revenue invoices including marketing, export duty related to crude oil, gas and any type of reimbursement within PSC as required.
• Work closely with other teams in Finance department to support all reporting requirements; Petroleum Income Tax Act (PITA) submission, monthly/quarterly tax provisions.

The active PSCs are PM3CAA, PM305, PM314, 2012 KNB Oil, B46CN PSC and North Sabah.

KEY ACCOUNTABILITIES

• Month end book close
  • Prepare and process accruals in SUN System by PSC, PSC contractual payments, revenues.
  • Work closely with Corporate Reporting team for closing cycle including cost allocations.
  • Prepare Statement of Expenditure (SOE), internal Monthly Entitlement and Offtake (MEOT), oil and gas revenue template, net production template.
  • Prepare analysis for Corporate Reporting – production, price volume, other taxes and other income.
  • Perform manual clearing of PSC_JV bank transaction against bank statement and month end bank reconciliation for book close.

• 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.
    • Prepare & reconcile Partners cash call request and receive into Sun System.
    • Actively participate with JV Partners in answering cash call’s queries.
  • Joint Interest Billing (JIB)
    • Prepare JIB statements from SUN System.
    • Perform reconciliation of Ledger A and Ledger D for all PSCs.
    • Monitor and ensure over/under call position matches to the respective PSCs’ bank balances.
    • Analyse 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
    • Work closely with Planning Team for AFE data consolidation and collation.
• 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 auditor 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.
• Billing & Invoicing
  • Prepare monthly Oil and Gas billing invoice to JV Partners and HGs.
  • Prepare and maintain records for accrual and actual invoice.
  • Prepare and submit on-time gas export declaration to Kastam Malaysia online and offline.
  • 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 e.g. boat sharing.
  • Prepare monthly accrual and billing for processing fees of PM3CAA to B46CN.
  • Prepare monthly accrual and billing for LCOT expenses to relevant parties.
• 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 a Bachelor’s degree in accounting or equivalent qualification from recognized universities
• Minimum three (3) years related working experience in auditing and/or accounting with at least two (2) years working experience in Malaysian PSC environment. 
• Knowledgeable of the principle of hydrocarbon allocation from terminal to reservoir
• Strong analytical skills for quality financial analysis
• Sound knowledge of oil & gas industry and PSC_JV Accounting
• Organized, able to multi-task and have good time-management.
• Critical thinking is required to resolve errors and discrepancies encountered. 
• Interpersonal communication skills and writing skills required to be able to explain findings to colleagues who may not have a strong understanding of complexity of PSC_JV concepts.
• Adaptability to evolving financial framework and systems.
• Proficient in SUN System, MAXIMO, and Microsoft Office (e.g. Excel, Word) applications. 

Job Requirements