Finance
What the team says...
Fairfield’s Finance department plays a pivotal role as a key partner to the business, ensuring that information is available to enable effective decision-making within the Company and that funds are available to execute the corporate strategy. The Finance function works across all areas of Fairfield’s business and is based in Aberdeen and Staines.
Finance is accountable for all business planning, management reporting, financial analysis, treasury, economics, tax, financial reporting, accounts payable, internal controls and general accounting in Fairfield.
The Group Finance team, based in Staines, is responsible for all group finance activities. Key responsibilities of this team include the day to day and long term management of Fairfield’s cash, financial risk management, management reporting, budgeting, forecasting and preparation of the Group financial statements, as well as direct liaison with our investors and other stakeholders such as banks and auditors.
The Operations Accounting team is located in Aberdeen and its primary function is to provide financial support to Fairfield’s Dunlin Area operations. The team is responsible for all Dunlin Area joint venture accounting and the provision of finance support to business managers and operations staff.
The Finance team is responsible for providing and analysing a wide range of data on external markets, such as oil price forecasts, competitor analysis and foreign exchange movements, to help the business remain competitive. Continuous improvement is also a main focus for Finance and as such we are constantly reviewing our processes and procedures to see if there is a better way to achieve our aims.
The Company also faces some specific commodity price and foreign exchange risks; financial analysis is used to develop hedging strategies to mitigate these risks. The team maintains and develops models, including long term tax models, to assist with business planning, enabling different scenarios to be modelled.
The Finance team is also accountable for the development, maintenance and utilisation of economic analysis tools to investigate opportunities of economic interest to Fairfield. In addition to performing analyses on the existing Fairfield portfolio, support is provided in respect of M&A activity. This is conducted through the analysis of relevant commercial and technical information and the resulting analysis is submitted in support of the investment decision.
Graeme Fergusson, Group Controller comments, “At Fairfield the Finance team works closely with the business and senior management and is involved in the decision-making process. Finance is a challenging, varied and rewarding place to work at Fairfield with opportunities to contribute to all aspects of the business.”
Subsea Engineering
Responsible for subsea engineering support activities throughout the whole lifecycle of Fairfield's field developments.
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HR and Business Services
Ensuring Fairfield's activities are staffed and supported appropriately in order to facilitate business continuity.
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Drilling
Covering all aspects of Drilling, Completion and Well Services activities, the team strives for continuous improvement in well delivery.
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Subsurface
The primary function of the Subsurface Team is to ensure that maximum value from the reservoirs is achieved.
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