Joint Venture (‘JV’) Accountant

Job Location: Lagos, Nigeria

Job Type: Full-Time 

Job Purpose / Key Objectives:

• The Joint Venture (‘JV’) Accountant will support the Financial Controller in managing the Company’s interests and ensuring compliance with the Joint Operating Agreements for the Otakikpo JV, OPL 276, OPL 310, and First Otakikpo Midstream Limited (FOML). The role holder will monitor funding of Joint Ventures and related performance reporting, and develop and manage relationships with Joint Venture Partners.           
• The role holder will also be responsible for the end-to-end finance function of OPL 310 and manage Otakikpo JV process. The role holder will support the Financial Controller in managing internal audit activities, ensuring the organisation operates in accordance with internal policies and regulatory requirements.
  

Principal Accountabilities:

A. Joint Venture Accounting

• Provide support in ensuring the business controls framework is in place to address risks and uncertainties relating to JV arrangements.
• Support JV budgeting, forecasting, performance reporting, and budget change control across the Company’s JV assets (Otakikpo JV, OPL 276, OPL 310, and FOML).
• Provide support to operations and technical teams with regard to Business Plans and performance monitoring for each JV asset.
• Conduct periodic review of project AFEs and variance analysis reporting.
• Ensure the time-writing model, processing of timesheets, true-ups, and recharging to assets are kept up to date.
• Prepare and submit cash call forecasts to JV Partners in accordance with agreed timetables.
• Review and reconcile JV Partner billings, statements of account, and cost recoveries.
• Monitor compliance with Joint Operating Agreements, including cost allocation, audit rights, and reporting obligations.
• Liaise with JV Partners and their representatives on financial and reporting matters.
• Support preparation of materials for JV operating committee and technical committee meetings.

Financial Accounting and Reporting Responsibilities

Lekoil, as Operator for some of these assets is responsible for the full finance function of FOML, OPL 276 and OPL 310. The role holder will manage or oversee the following activities for the assets they will be responsible for:

Accounts Payable:

• Ensure vendor invoices are processed accurately and in a timely manner.
• Maintain supplier records and manage payment runs in accordance with agreed terms.

Accounts Receivable:

• Manage the end-to-end process of generating accurate invoices, monitoring payment due dates, reconciling incoming cash, and managing collections.

Bookkeeping and General Ledger:

• Post FOML transactions to the general ledger and perform reconciliations of key accounts.
• Ensure accuracy, completeness, and integrity of financial data at all times.

Periodic Financial Reporting:

• Produce monthly management accounts, quarterly reporting packs, and annual financial statements.
• Prepare supporting schedules and commentary for review by the Financial Controller.

Payroll and Staff Expenses:

• Ensure employee wages, deductions, and taxes are computed accurately and recorded.
• Ensure prompt remittance of statutory deductions (PAYE, pension, and other applicable levies).
• Ensure staff expense claims are processed and paid promptly and in line with policy.

Treasury Management:

• Provide oversight of FOML’s financial resources and liquidity position.
• Manage daily cash flows, optimise working capital, and mitigate risks including interest rate and currency exposures.

Inventory Management:

• Maintain adequate records of FOML inventories, minimising holding costs while preventing stockouts.

 

1. Systems

• Maintain and operate accounting records in Sun Systems.
• Ensure data integrity and accuracy across all system inputs and outputs.
• Support system upgrades or migrations as required.

 

1. General

• Manage performance, facilitate development, and coach junior team members.
• Develop, maintain, and leverage relationships across Lekoil and within the oil and gas industry.
• Perform all other duties reasonably assigned by the Financial Controller.

Job Requirements:

Qualifications

• Bachelor’s degree in Accounting, Finance, Economics, or an equivalent relevant discipline.
• Master’s degree in Finance, Economics, or an MBA is an advantage.
• Professional qualification: ACA or ACCA (or equivalent).

Knowledge, Skills and Competencies

• Solid experience and understanding of Joint Venture accounting.
• Strong financial acumen and numerical skills.
• Previous experience within the oil and gas industry.
• Emerging market experience is strongly preferred.
• Demonstrated leadership capability with the ability to represent the Company’s position with JV Partners.
• Robust CAPEX and OPEX budget management skills.
• Ability to adapt to a fast-paced working environment.
• Strong operational finance experience including Joint Ventures and Production Sharing Contract (PSC) environments.
• Proficiency in Sun Systems (mandatory) and advanced Excel and PowerPoint skills.

 

Experience

• Minimum 3 to 5 years of experience providing financial support to a producing asset in an exploration and development company.
• Minimum 2 years of experience supporting the development of a field from FEED to construction.
• At least 3 years in a similar JV accounting role.

 

Personal Attributes

• Ability to work with operational teams and serve as the primary finance contact, providing sound advice and guidance on financial matters.
• Ability to persuade and influence others, and to work effectively with people at all levels of the organisation.

• Ability to build trust and be regarded as a credible business partner.
• Able to work flexibly and independently when required, with a high standard of attention to detail.
• Strong work ethic within a committed team environment.
• Reliable with good emotional intelligence and commercially astute.
• Excellent diplomacy skills.
• Outstanding verbal and written communication skills.
• Excellent project management skills with the ability to work under pressure and to tight deadlines.
• Good crisis management experience.

 

Physical and Other Requirements

• Displays a quality of work that reflects high professional standards.
• Projects a professional and positive image at all times.
• Willingness to travel to JV asset locations (including Otakikpo) as required.