Accounting Manager

Job Summary:

To lead the accounting function of ADES Production, ensuring complete, accurate and timely financial reporting under IFRS for the company’s upstream oil and gas interests.

Roles & Responsibilities:

Financial Accounting & Reporting

• Lead the monthly, quarterly and annual close, delivering accurate financial statements under IFRS within agreed deadlines.
• Ensure revenue, cost and liability accruals are complete and supported.
• Prepare group reporting packs, consolidation inputs and intercompany reconciliations for ADES Group.
• Account for oil and gas assets under IFRS: exploration and evaluation (IFRS 6), unit-of-production depletion, impairment and decommissioning provisions.
• Maintain the general ledger and fixed asset register; ensure balance sheet accounts are reconciled monthly.

Joint Venture & Concession Accounting

• Apply the accounting procedures of the concession agreements and JOAs, including cost recovery, profit oil/gas sharing and excess cost oil calculations.
• Prepare and issue partner billings, cash call requests and joint interest statements, and reconcile partner balances every month.
• Prepare and submit the periodic cost recovery and expenditure statements required by EGPC and partners.
• Reconcile lifted volumes, entitlement and sales invoices with production, marketing and EGPC records.

Cost Control & AFE Management

• Track capital and operating spend per well and per project against approved AFEs and budget.
• Reconcile AFEs to close-out reports and flag overruns early.
• Work with operations and supply chain to ensure costs are coded to the correct AFE, cost center and concession.

Budgeting, Forecasting & Management Reporting

• Provide accounting data for the annual budget, rolling forecasts and variance analysis.
• Feed accurate, timely inputs into management dashboards (production, lifting cost per barrel, AR aging, cash position).
• Prepare analysis and explanations of material variances.

Treasury & Cash Support

• Monitor receivables from EGPC and partners, AR aging and collections.
• Support cash flow forecasting, including USD/EGP exposure and cash call funding needs.
• Ensure bank reconciliations are completed and reviewed every month.

Tax & Compliance

• Manage corporate income tax, VAT, withholding tax and stamp duty obligations in line with Egyptian tax law and the tax provisions of the concession agreements.
• Prepare and file tax returns on time, maintain complete supporting files and coordinate tax inspections and settlements with the Egyptian Tax Authority.
• Ensure compliance with statutory, EGPC and partner reporting requirements, and with ADES Group accounting policies.

Audit & Internal Controls

• Coordinate external statutory and group audits, EGPC and partner cost audits, and internal audit reviews; prepare audit schedules and close findings within agreed timelines.
• Maintain and test internal controls over financial reporting, including the delegation of authority matrix and segregation of duties.
• Keep accounting policies, procedures and ERP master data accurate and up to date

Education & Experience:

• Bachelor’s degree in accounting, Finance or Commerce.
• 10-12 years of progressive accounting experience, including 5+ years in upstream oil and gas (E&P).
• At least 3 years in a supervisory or managerial role leading an accounting team.
• Hands-on experience with joint venture and PSC/concession accounting, cost recovery and partner billing; experience with EGPC concessions is a strong advantage.
• Experience with IFRS reporting, group consolidation, Big Four audits and a major ERP system (SAP or Oracle preferred).