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Key Responsibilities and Required Skills for Upstream Project Analyst

💰 $ - $

EnergyOil & GasProject ManagementUpstream

🎯 Role Definition

The Upstream Project Analyst is responsible for delivering robust project controls, financial analysis and cross-discipline coordination for upstream oil & gas projects. This role combines technical understanding of upstream operations (drilling, completions, reservoir and production) with best-practice project execution and commercial governance. The Upstream Project Analyst prepares CAPEX/OPEX budgets, builds financial models (NPV/IRR/sensitivity), maintains project schedules (Primavera/MS Project), performs variance and risk analysis, and produces executive-level reporting and dashboards to keep projects on time, on budget and compliant with HSE and regulatory standards.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Junior Project Controls Analyst or Project Analyst (Upstream)
  • Field Engineer, Drilling/Production Technician or Reservoir Technician
  • Commercial Analyst or Financial Analyst supporting upstream assets

Advancement To:

  • Senior Upstream Project Analyst / Project Controls Lead
  • Project Manager (Upstream) or Delivery Lead for onshore/offshore projects
  • Portfolio Manager / Capital Programs Manager or Asset Manager

Lateral Moves:

  • Commercial / Business Analyst (Upstream)
  • Asset Engineer or Production Optimization Specialist
  • Operational Readiness / Commissioning Lead

Core Responsibilities

Primary Functions

  • Develop, maintain and reconcile detailed project schedules for upstream capital projects using Primavera P6, Microsoft Project or equivalent, ensuring alignment between engineering, procurement, construction, drilling and operations workstreams.
  • Prepare and maintain integrated project execution plans and stage-gate deliverables; lead the production of gate submissions, decision memoranda and stage approval packages for capital authorization.
  • Own the monthly project cost control cycle: capture actuals from SAP/ERP, perform accruals, run forecasts, update cost-to-complete and produce variance analysis against approved budgets.
  • Build and maintain financial models for upstream projects, including NPV, IRR, DCF and sensitivity scenarios, to support investment decisions, economics reviews and board-level approvals.
  • Coordinate and review cost estimates and tender evaluations from vendors and contractors; support procurement with scope clarifications, commercial evaluations and recommendation of award.
  • Produce clear, concise executive dashboards and management reports (Power BI / Tableau / Excel), delivering actionable KPIs for project performance, schedule, cost, HSE and risk.
  • Conduct risk identification, quantification and mitigation planning (risk registers and heat maps); facilitate project risk workshops and integrate outcomes into decision-making and contingency planning.
  • Lead change control and commercial change order processes: evaluate RFCs, quantify cost and schedule impacts, recommend disposition and update forecasts and contracts accordingly.
  • Perform cash-flow planning and monthly cash management to ensure funding alignment with project spend profiles and corporate finance requirements.
  • Monitor contractor performance and interface with construction and drilling teams to ensure contract deliverables, milestone payments and performance incentives align with project objectives.
  • Support well planning and cost estimation for drilling/completions programs by collaborating with drilling engineers, reservoir engineers and operations to capture technical assumptions and risks.
  • Reconcile engineering progress, procurement lead times and logistics constraints with schedule recovery plans and accelerate critical path activities when required.
  • Ensure all project documentation meets governance and compliance requirements (HSE, regulatory filings, land and permitting), and coordinate with HSE, QA/QC and regulatory teams to close compliance actions.
  • Establish and maintain standardized project controls processes (cost coding, WBS, reporting cadences) and implement continuous improvement initiatives across the project portfolio.
  • Prepare monthly and ad-hoc executive summaries, investment committee packs and board-ready materials that synthesize technical, commercial and risk information for non-technical stakeholders.
  • Integrate production forecasts, reservoir performance and decline analysis into project planning to align capital allocation with expected hydrocarbon recovery and long-term field economics.
  • Support portfolio optimization exercises by modeling alternative execution strategies (phased development, deferment, acceleration) and presenting trade-offs between schedule, risk and economic return.
  • Maintain and validate project data in ERP and EAMS systems (SAP PS/PM, Maximo or similar), ensuring accurate charge codes, receipts, invoices and WO statuses for reconciliation.
  • Drive cross-functional workshops and project meetings to resolve execution issues, clarify scope interfaces, and ensure alignment between asset teams, engineering contractors and commercial partners.
  • Lead project close-out activities including final cost reconciliation, lessons learned capture, handover documentation and assurance that deliverables meet acceptance criteria.
  • Perform sensitivity and scenario analysis on commodity price, capex escalation and production uncertainty to quantify upside/downside to project economics and advise stakeholders on hedging/timing options.
  • Support joint venture and partner reporting requirements by preparing monthly JV packs, cost allocation schedules and audit-ready supporting documentation.

Secondary Functions

  • Support ad-hoc data requests and exploratory data analysis.
  • Contribute to the organization's data strategy and roadmap.
  • Collaborate with business units to translate data needs into engineering requirements.
  • Participate in sprint planning and agile ceremonies within the data engineering team.

Required Skills & Competencies

Hard Skills (Technical)

  • Advanced financial modeling and economics analysis: NPV, IRR, DCF, sensitivity and scenario modeling for CAPEX projects.
  • Project scheduling and controls expertise with Primavera P6 and/or Microsoft Project; critical path analysis and schedule risk modelling.
  • Cost control, budgeting and forecasting experience with SAP PS/PM or equivalent ERP systems; month-end close reconciliation.
  • Excellent Excel skills (pivot tables, advanced formulas, VBA or Power Query) and experience building automated reporting packs.
  • Business intelligence and visualization: Power BI, Tableau or equivalent for dashboards, KPI tracking and executive reporting.
  • Contract and commercial evaluation skills: understanding of drilling, EPC and service contracts, BOQ, tender evaluation and change order management.
  • Data analysis and SQL skills for pulling, validating and transforming upstream datasets; familiarity with Python/R is a plus.
  • Understanding of upstream technical disciplines: reservoir fundamentals, drilling/program costs, completions and production engineering.
  • Risk management and cost-to-complete forecasting methodologies, including risk registers and Monte Carlo or similar probabilistic analysis.
  • Knowledge of HSE and regulatory compliance requirements for upstream projects, permitting and environmental obligations.
  • Familiarity with project governance processes, stage-gate frameworks and investment approval workflows.
  • Experience managing multi-discipline stakeholder interfaces across engineering, operations, procurement and finance.

Soft Skills

  • Strong stakeholder management and influencing skills to work effectively with technical and commercial partners.
  • Clear written and verbal communication with the ability to translate technical detail into board-level summaries.
  • Analytical mindset with meticulous attention to detail and a structured approach to problem-solving.
  • Effective prioritization and time management under pressure to meet tight reporting deadlines.
  • Collaborative team player who can lead workshops, build alignment and drive cross-functional decisions.
  • Adaptability and resilience working in changing upstream environments and shifting operational conditions.
  • Negotiation and commercial judgement to evaluate vendor proposals and recommend trade-offs.
  • Leadership potential: ability to mentor junior analysts, coordinate external consultants and facilitate governance meetings.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's degree in Engineering (Petroleum, Mechanical, Chemical), Geoscience, Finance, Economics, or related discipline.

Preferred Education:

  • Master's degree in Petroleum Engineering, Project Management, MBA or similar advanced degree; certifications in Project Management (PMP) or Project Controls are advantageous.

Relevant Fields of Study:

  • Petroleum Engineering
  • Mechanical or Chemical Engineering
  • Finance, Economics or Business Administration
  • Project Management, Data Analytics or Applied Mathematics

Experience Requirements

Typical Experience Range:

  • 3–8 years of progressive experience in upstream oil & gas project controls, project analysis or project management support roles.

Preferred:

  • Proven experience supporting onshore/offshore drilling and field development projects, financial approval cycles, and ERP-based cost control in an upstream oil & gas environment.
  • Demonstrable track record delivering project reporting, cost forecasting, risk management and stakeholder engagement across multi-discipline teams.
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