Various Postions: Bonga Project Accountant, NOV Accountant, Asset Accountant, PSC Accountant
Shell Nigeria Exploration and Production Co. Ltd
October 2002 - September 2008 (6 years 1 month)
- Venture Accounting: Liase with the Project Services Team to ensure efficiency, effectiveness, consistency and integration of all accounting support services provided by the Venture
- Maintain appropriate Accounting records for the Bonga Venture ensuring compliance with PSC and JOA requirements.
- Provide necessary support to all commercial reviews and audits and present required information for all Bonga Venture related activities.
- Develop and maintain a Management report for tracking all cost savings on the Bonga Project.
- Provide regular Management Information reports to the Venture Management for review and monitoring of Venture performance.
- Provide Accounting input to the Monthly Project Management Reporting system for project management, partners and regulatory bodies, as appropriate covering inter alia, budget, credit management and cost recovery. Monitor and report Venture actual commitment and expenditure plans as part of monthly reports.
- Maintain a transparent budgetary control system by providing budget commitment/control support to the project.
- Analysis, control, processing and advise on payments of cash call
- Follow-up on the cash position and borrowing of all Partners within the Joint Venture
- Estimation of Operator’s future cash calls for cash forecast and planning
- Monthly reconciliation of ledger balances in own books to the records from the operator
- Work with Technical Team to obtain Shell’s approval for Operator’s yearly budget. Coordinate internal review sessions to critic the Budget numbers and request for additional supports before approvals are given.
- Reconciliation of the monthly cash calls paid and ensure compliance with group records
- Monitoring and advising on the Non-Operated loans and accrued interest and ensure its booked into the Group Ledger Accounts
- Monthly Review and Booking of Operator’s billing statement
- Analysis of the working capital variation generated from the Billing Statement
- Design, develops & Implement the database of technical costs for performance measurement and also ensure its maintenance.
- Perform and follow-up of Non-Operated Venture audits
- Provide assistance in feeding of Operator’s budget and plan for corporate reporting in Shell.
- Provide the Venture’s financial performance report (actual vs. Budget) to management.
- Prepare in conjunction with asset team members the monthly Latest Estimate figures
- Prepare and report monthly on the corporate KPIs(Key Performance Indicators)
- Analysis and participation in Technical and Financial meetings/discussions e.g. TCM, FINCOM and OCM
- Commercial reviews of JOA agreements. Participated in the drafting of the OPL 250 JOA, which involved in-depth deliberations and review sessions.
- Ensure compliance with JOA and PSC requirements