Contact Information

  • Rafael Paz
    (305) 927-1425
    (305) 927-1425

Description

Transformational leader with 15+ years progressive experiance in the Oil & Gas space; leverages Financial Planning & Analysis, Corporate Finance Operation, Treasury, Risk Analysis, Credit & Collections, Accounting, and Contracts Management to execute long term plans, optimize efficiency, and inspire innovation in global E&P environments; proven track record of strategic & finance business partnerships to maximize shareholder value creation. Defines strategy, develops solutions, streamlines operations, and new business development options to create revenues streams. Builds and motivates teams to structure reports and financial risks, analyze financial trends, cash flow analysis, and provide recommendations to improve performance.

Location

Houston

Experience

MSKappa Business Consultant | USA 2019–Present
Senior Finance & Planning Director - Oil & Gas Consultant
Build finance function and M&A capability with C-level and business owners in Oil & Gas space on valuation considerations, due diligence and planning as well as merger integration, divestitures and separations. Partner with clients to address critical success factors for Oil & Gas Projects in Latin America, long-term value creation, governance, operating models and monitoring. Provide support on finance strategies; accounting, financing schemes, business plan, budget development, projects economic evaluation, and companies and assets valuation to improve management of business partnerships and negotiate better projects.
• Create strategic portfolio containing 20+ oil & gas assets with >20 mbd production average, targeting the most profitable light, medium and heavy oil fields in Venezuela as new investment opportunities for recommendation to investors.
• Advise and deliver negotiation plan to acquire new profitable Oil & Gas assets worth +US$100M in Venezuela and Colombia. Lead preparation of business plan and economic valuation; conduct assets valuation through calculation of NPV and IRR.
• Propose US $30M loan from shareholders to finance an exploration program for an oil and gas project in Mexico.

ROSNEFT | Venezuela | USA 2013–2019
Executive Director of Finance, Accounting and Economics
Controlled finance, accounting & planning project-related activities, strategic business planning, reporting, financial management, performance improvement and new business opportunities. Assigned Board of Director Member for 5 Joint Ventures Projects. Responsible for overseeing Rosneft’s interests in Joint Ventures Projects with ~$3B total annual turnover and the G&A of the Oil & Gas Arctic office Project in USA.
• Recovered $1.3B in unpaid dividends from 5 JVs, owed to Rosneft from 2008 to 2018. Implemented cash flow agreement scheme for timely collection of future dividends. Minimized cash flow exposure to allow future equity reinvestments.
• Pioneered development of dividend reinvestment scheme to increase production by over 30% and acquisition of new income-generating assets to leverage and minimizing Rosneft’s cash flow exposure of ~$700M over a 5-year period.
• Consolidated 20% costs reduction for an Oil Upgrader Major Turnaround Project with refining capacity of 140 mbd via budget cost optimization campaign in line with new business model.
• Enabled commercialization of 40% of oil produced by integrated Oil & Gas Projects equivalent to ~$1.2B annual revenue. Built team to design and execute financing schemes via “Prepayment Oil Export Contracts and Cash Flow Agreements”.

• Secured $1.2B loan from Rosneft Corporate to finance development plan for production infrastructure, drilling activities and facilities for new JV Project in the Orinoco Belt.
• Co-chaired strategy to expand portfolio in Venezuela via acquisition of additional equity in an integrated Oil & Gas JV from 17% to 40%, as well as license to operate two offshore Gas Projects, which added ~1.2B to Rosneft value.
• Agreed tax exemption mechanism with the government to ensure profitability on Rosneft’s new Oil & Gas Projects that increased IRR from -2% to 12%, similar to heavy oil projects in different regions around the world.

TNK-BP | Venezuela | Brazil 2012–2013
Director of Finance / Chief Financial Officer
Spearheaded day-to-day operations for finance department including business and strategic planning, investment & economic evaluation, financial control, accounting, performance management, and risk management. Superintended project team that successfully managed migration and integration of entire Financial, Accounting, Planning and Commercial functions between TNK-BP and Rosneft post $55B acquisition in 2013. Represented TNK-BP as Board Member on three Joint Ventures.
• Led preparation and approval of new TNK–BP Investment Memorandum and Business Plan for the next 10 years, which secured $300M in financing for 3 Oil & Gas JVs and Brazil Oil and Gas Project.
• Partnered with Board of Directors to prepare negotiation strategy for payment of unpaid dividends. Recovered $100M in dividends from JVs owed to TNK-BP and delivered $50M+ free cash flow to headquarter in line with the local legislation.
• Consolidated 30% of TNK-BP annual expenses via budget cost optimization campaign in line with new business model.
• Assembled team of 10 financial specialists to redesign and implement standardized financial performance and reporting processes according to local and TNK-BP corporate standards.

BP | Venezuela | Colombia 2006–2012
Finance Manager • 2011–2012
Oversaw all strategic Financial, Planning, and Economic activities in BP’s Joint Venture. Owned forecast and budget for full P&L for all enabling functions for a total of almost $300M in expense across Oil & Gas Projects; managed consolidation process for quarterly forecasts and actuals for $1.0B annual revenue. Ensure monthly reporting and controls. Invoicing and billing assurance.
• Delivered payment of $130M to shareholders through the declaration of dividends for 2008, 2009 and 2010. Collaborated with external auditor to close issues for Financial Statements approval and presented an action plan to the BoD.
• Advised BP’s Joint Venture President and Board of Directors on the development of business strategies and preparation and execution of the annual and long-term plans.
• Partnered with HR function to build and establish personal development and succession plan for 30 employees in finance, planning and accounting functions.
• Secured loan of $40M through BP to repair critical infrastructure in the field that led to 25% increase in oil production.

Senior Commercial & Financial Advisor • 2006–2011
Convened migration team of 3 Joint Ventures to successfully completed migration and integration of the entire corporate functional business processes between BP Venezuela and BP Colombia to form “One BP Andean Business Unit” post M&A of BP asset between Colombia and Venezuela. Recognized HSE Champion at BP Venezuela. Ad hoc analysis and special projects.
• Supervised with cross functional teams on the budgeting for Production (58mboed), Capital ($160M) and Cost ($180M) and the long-term plan preparation of the projects and location.
• Coordinated quarterly performance reviews with the BP President and Management Team to identify risk and opportunities
• Provided variance analysis, financial results, risks, key performance indicators, monthly and quarterly performance. reviews, and other information required by President, Strategic Performance Unit Management Team and Shareholders

Awards and Certifications

Certificate in Negotiation Mastery–Harvard Business School, USA |Certificate in Hydrocarbon Industry Management –IESA, Venezuela | Integrated Finance, Planning & Performance Management–BP University, USA | ARC Essential for CFOs–BP University, USA | Economic Evaluations Methodology–BP University, USA | Advance Oil & Gas Accounting–BP University, USA

Skills

Business Performance• Budgeting & Costs Control • Forecasting • Reporting & Closing Process • P&L Balance Sheet • Financial Statements Management • Cost Reduction • Cash Management • Cost Management • Accounting Operations • Financial Modeling • Auditing • Continuous Improvement • Strategic Direction • Stakeholder Relations • Business Planning Strategy • Internal Controls • Financial Models • Commercial Support • Upstream & Downstream Projects Evaluation • Risk Management• Policies and Procedures • Capital Structures • Cost Recovery Mechanisms • Tax • Mergers & Acquisitions • Team Development

Education

Master’s Degree in Finance – Universidad Gran Mariscal de Ayacucho | Venezuela
Bachelor’s Degree in Economics – Universidad del Zulia | Venezuela