J R Hutton Oil and Gas Industry Audit and Accounting Services

James R Hutton - Profile

CAREER

Company founder, James Hutton is a qualified accountant, (ACMA), having some 43 years' experience in finance & auditing in the North Sea oil industry, much of it at senior management level.

Having gained a B.A. Degree in Business Studies, James commenced his career with the British National Oil Corporation, (BNOC), in Glasgow in 1977, where James held a variety of accounting positions in the Exploration sector of the business. James moved to Aberdeen in 1981, spending an initial 2 years in Operational Audit, including a significant period of time on site at Nigg Oil Terminal during construction activity.

In 1983 James led a multi disciplined team tasked with maximising the recovery of Regional Development Grants associated with Nigg Oil Terminal construction.

During the next 5 years James then held a wide variety of senior financial management posts in what was by then Britoil's Aberdeen North Sea Operations covering Joint Venture management, Operations and Drilling accounting, Treasury & Cash management, Accounts Payable management, Internal Reporting and New Office Project cost management.

With the acquisition of Britoil by BP in 1988, James spent the next year as part of a small project team working with a firm of external consultants to successfully integrate the North Sea Finance & Accounting functions of the two companies.

Following a further year in Operations financial management; in 1991 James moved to Sullom Voe Terminal in Shetland as Finance Manager, a post he held until leaving BP in 2008.

At Sullom Voe James was a key member of the Terminal Management Team and was responsible for the overall financial management of the Terminal which was operated by BP on behalf of a Joint Venture of approximately 30 Oil & Gas companies; with an annual budget in the region of 100 million.

Key responsibilities during this period included the management of the outsourced accounting services to Accenture, internal & external financial reporting, budgeting and planning together with management of JV and internal financial audits. James also held budget responsibility and established associated expertise in Business Rating, Insurance together with agreement related payments to the Shetland Islands Council.

James also played a key role in developing the Accounting Procedures incorporated in the current version of the Sullom Voe Joint Venture Agreement.

Between 2004 and 2008 James was also the Finance Manager for the BP operated CATS and Dimlington/Easington Gas Terminals located on Teesside and Humberside on the east coast of England.

Since establishing J.R.Hutton Consulting Ltd in 2008, James has been contracted to provide internal and contract auditing services at a senior level to a major North Sea oil company based in Aberdeen, as well as leading / performing contract and Joint Venture financial audits for a wide client base, in the UK, Norway, Holland, Australia, Malaysia, Ireland, New Zealand, Tunisia, Congo, Ivory Coast and the USA.

James has also provided business planning and financial forecasting support to small businesses located in Shetland and is on the Shetland Island Council's "Business Gateway" Register of Business Advisors.

During the early part of 2011 James was contracted to play a leading role in implementing a training programme on behalf of BP throughout their UK upstream North Sea Operations organisation, providing coaching and implementation support to several hundred Budget Officers which was required as a consequence of the upgrade to BP's accounting system, SAP.

During 2018 James participated in a review / update of UK Standard Oil Accounting Procedures (SOAP's).

During 2019 and 2020 James co-presented several training courses on "How to Audit a Well", on behalf of the Oil Industry Accounting Development Group (OIADG).

PERSONAL

Originally from Kirkintilloch, near Glasgow, James is 64 years old, and lives in Aberdeen, but retains strong connections with Shetland.

During his time in Shetland, James established himself as a recognised figure in the local community. He was Chairman of the Anderson High School Parent Council for 3 years and has held Trustee Positions on the Shetland Arts Trust (10 years, 5 as Chairman) and the Shetland Development Trust (6 years).

Through his position at BP, James was also a director of Blackhill Industrial Estate Ltd (14 years).

James also provides regular career talks to senior school pupils on interview skills and careers in accountancy and has been an Advisor to secondary pupils participating in the Young Enterprise programme.

James also provided financial guidance to the Committee who organised "Sail Shetland 1999", when the well known "Tall Ships" race visited Lerwick.

James was also a "celebrity" dancer in Shetland's very own version of "Strictly Come Dancing", a live event held in front of some thousand people to raise funds for local charity.

James enjoys travel, especially if it can be combined with F1 Grand Prix! good food & wine and has a keen interest in music, being able to play the piano and church organ. James is also a keen gardener.