VITALII KUZNETSOV
Dubai
Summary
Finance & Economics professional with over 15 years of international upstream oil & gas experience across Middle East and Asia.
Strong expertise in FP&A, budgeting & forecasting, investment analysis, long‑term asset planning, cost optimization, and SAP-based systems.
Extensive track record supporting multi‑billion‑dollar upstream projects and influencing strategic decision-making.
Recognized High‑Potential employee with strong analytical, leadership and positive cross‑cultural communication skills.
Overview
19
19
years of professional experience
Work History
Head of Economics & Planning Section (FP&A)
West Qurna-2 Oilfield, LUKOIL Mid-East Ltd.
01.2020 - Current
- Led full budgeting & planning cycle for annual consolidated budget > USD 1 bn, covering Long term/Strategy, Midterm (3–5 years), Annual and Quarterly Budgets (cash & accrual).
- Coordinated process stakeholders and delivered 50+ planning forms, analytical reports and presentations for governmental stakeholders and corporate HQ.
- Directed monthly CAPEX, OPEX, G&A and Investment Program monitoring; secured KPI delivery and minimization of deviations.
- Evaluated 30+ investment projects, prepared Financial and economics models, sensitivities, long‑term development options and strategic recommendations.
- Prepared and updated Investment Projects Passports; supported negotiations with Iraqi Government, including Ministry of Oil and Basrah Oil Company using financial justifications and scenario analyses.
- Served as functional owner of SAP BPC/BW/ERP, defined requirements, tested enhancements and supported 50+ users.
- Managed Authorization For Expenditure (AFE) lifecycle, reviewing 1000+ documents/year, validating contract pricing and ensuring budget compliance.
- Delivered benchmarking for 20+ Iraqi oilfields and developed financial models for 6 major producing assets; prepared annual Iraq Federal Budget analysis.
- Supervised 10 FTE; executed personnel evaluations, development plans and ensured Work Program compliance.
- Demonstrated strong organizational and time management skills while managing multiple projects.
- Proved successful working within tight deadlines and a fast-paced environment.
Senior Manager (FP&A)
PJSC LUKOIL Headquarter
01.2017 - 01.2020
- Managed of FP&A processes, preparation of performance dashboards and cash flow forecasts for Kazakhstan upstream assets.
- Ensured quality and timely submission of managerial reporting for LUKARCO B.V. (Tengiz, Caspian Pipeline Consortium).
- Supported cost optimization and investment analysis; audited KPI calculations.
- Led cross-functional teams to optimize operational efficiency and streamline processes.
- Oversaw project management efforts to ensure timely completion of key deliverables.
- Managed budget allocations, ensuring resource optimization in line with corporate objectives.
Economic Analysis Manager
LUKOIL Engineering
04.2017 - 09.2017
- Developed budgets, KPI analyses and factor analyses for Projects portfolio in Middle East Region.
- Consolidated financial and operational data across West Qurna‑2, Block‑10, LUKSAR, Meleiha, WEEM.
- Led analysis initiatives to optimize project efficiency and resource allocation.
- Developed and implemented data-driven strategies to support decision-making processes.
- Presented analytical findings to senior management, influencing strategic direction and investment decisions.
Budget Controller
LUKOIL Mid-East Ltd.
08.2016 - 04.2017
- Coordinated OPEX budgeting through 10+ cost controllers across departments.
- Performed plan/actual/variance analysis and prepared management reporting.
- Evaluated tender budgets and approved contracts; enhanced SAP BPC processes.
- Analyzed financial data to identify trends, variances, and opportunities for cost reduction.
- Collaborated with department heads to align budgetary goals with strategic objectives of the organization.
- Monitored expenditures against approved budgets, ensuring compliance with financial policies and regulations.
- Prepared detailed financial reports for senior management, facilitating informed decision-making on resource allocation.
- Led cross-functional teams in budget forecasting sessions to enhance accuracy and alignment of financial projections.
Manager (Development & Production Projects)
LUKOIL Overseas Service B.V.
01.2013 - 12.2016
- Performed EBITDA and Net Profit factor analysis across all LUKOIL Overseas assets.
- Oversaw planning & budgeting for development and production assets.
- Ensured IFRS-aligned cost classifications; executed cost optimization initiatives.
- Participated in SAP Budget consolidation system rollout.
- Managed budgetary planning and forecasting, ensuring alignment with organizational goals.
Budget Controller (Uzbekistan & Azerbaijan)
LUKOIL Overseas Service B.V.
01.2011 - 12.2013
- Managed budgeting for Khauzak‑Shady, Kandym, Kungrad, Gissar, Shah‑Deniz.
- Performed KPI audits and cost optimization analysis.
- Supported SAP consolidation system (SBUK 7.5) implementation.
- Analyzed financial data to identify variances and recommend corrective actions.
- Collaborated with cross-functional teams to streamline budgeting processes.
- Prepared comprehensive financial reports for senior management review.
- Spearheaded special projects related to budgeting and financial management as needed, demonstrating flexibility and adaptability in response to shifting organizational priorities.
Finance Controller (Treasury / Corporate Finance)
LUKOIL Overseas Uzbekistan
01.2008 - 12.2011
- Prepared Cash Flow Budgets and evaluated contractor financial stability.
- Supported loan documentation for external credit lines.
- Submitted official reports to state authorities.
- Analyzed financial data to support investment decisions and enhance budget forecasting.
- Enhanced financial decision-making by providing timely and accurate analysis of financial data to executive leadership.
Treasurer
Kapital Bank
01.2007 - 12.2008
- Managed liquidity operations, overnight placements and FX procurement.
- Processed SWIFT transactions and cash distribution across branches.
- Developed and implemented treasury policies to enhance operational efficiency and compliance.
- Enhanced reporting mechanisms for treasury activities, ensuring transparency and informed decision-making.
Education
Master’s Degree - Economics (Investments)
Plekhanov Russian University of Economics
01.2009
Bachelor’s Degree - Economics (Finance & Credit)
Plekhanov Russian University of Economics
01.2007
Skills
- FP&A
- Budgeting & Forecasting
- Long-Term, Strategic Planning
- Investment Analysis
- Financial Modelling
- Cost Control
- Scenario & Sensitivity Analysis
- Cash Flow Forecasting
- SAP
- MS Excel, PowerPoint, Visio
- IFRS/US GAAP
- Team Leadership
- Friendly, positive attitude
Relocation Business Travel
Yes
Awards Leadership Programs
- High Potential Employee, LUKOIL
- Leadership Program, substituted Senior Vice President and Head of Economics & Planning
- Letters of Appreciation, LUKOIL
Timeline
Head of Economics & Planning Section (FP&A)
West Qurna-2 Oilfield, LUKOIL Mid-East Ltd.
01.2020 - Current
Economic Analysis Manager
LUKOIL Engineering
04.2017 - 09.2017
Senior Manager (FP&A)
PJSC LUKOIL Headquarter
01.2017 - 01.2020
Budget Controller
LUKOIL Mid-East Ltd.
08.2016 - 04.2017
Manager (Development & Production Projects)
LUKOIL Overseas Service B.V.
01.2013 - 12.2016
Budget Controller (Uzbekistan & Azerbaijan)
LUKOIL Overseas Service B.V.
01.2011 - 12.2013
Finance Controller (Treasury / Corporate Finance)
LUKOIL Overseas Uzbekistan
01.2008 - 12.2011
Treasurer
Kapital Bank
01.2007 - 12.2008
Bachelor’s Degree - Economics (Finance & Credit)
Plekhanov Russian University of Economics
Master’s Degree - Economics (Investments)
Plekhanov Russian University of Economics