Principal Engineer - Cost Control

Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world’s leading energy companies.
We design, build, manage and maintain infrastructure for our clients. We recruit, reward, and develop our people based on merit regardless of race, nationality, religion, gender, age, sexual orientation, marital status, or disability. We value our people and treat everyone who works for or with Petrofac fairly and without discrimination.
The world is re-thinking its energy supply and energy security needs, planning for a phased transition to alternative energy sources. We are here to help our clients meet these evolving energy needs.
This is an exciting time to join us on this journey.
We support flexible working requests and have adopted a hybrid approach for most of our office-based roles. We ask employees to be present in the office at least three days per week.
Are you ready to bring the right energy to Petrofac and help us deliver a better future for everyone?
JOB TITLE: Principal Engineer - Cost Control
KEY RESPONSIBILITIES:

Establish a process for information flow regarding each expense head, including design heads, equipment/material procurement, logistics costs, mobilization and demobilization of personnel/machinery, subcontractor costs/claims, and other relevant costs such as customs, duties, liabilities, and insurance.
Provide assigned project cost estimates, including material, manpower, equipment/material costs, subcontracts, third-party services, and financial costs, etc.
Coordinate with project engineers to clarify any queries or discrepancies.
Determine the "Estimate to Complete" (ETC) cost for the remaining works and coordinate with different disciplines to gather ETC data.
Prepare periodic reports on the status of incurred costs and variations between budgeted vs. actual costs, in consultation with the supervisor/Project Manager.
Monitor costs, generate variance reports as needed, and forward them to the Supervisor/Project Manager for review.
Assess potential variations/claims from subcontractors and vendors.
Participate in project review meetings, if required, and provide cost-related data as needed.
Interface with project engineers and Accounts to provide clarifications and assistance as required.
Propose new suggestions and continuously improve and update the processes for effective cost control.
Develop a historical cost database for projects to aid future reference.
Provide training and guidance to new or junior Cost Control personnel.

ESSENTIAL QUALIFICATIONS AND SKILLS:

Bachelor's degree in engineering.
Minimum of 15 years of professional experience, including:

At least 5 years in the cost control function of EPC medium projects.
Preferably the last 2 years in the cost control function within the Oil & Gas sector.



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