SENIOR COST CONTROL ENGINEER

PURPOSE OF THE JOB:

The  Cost Control Engineer will be responsible for overseeing and controlling project costs during the engineering phase of oil and gas projects. This role involves strategic cost management, monitoring expenditures, conducting detailed financial analysis, and providing actionable insights to project management.

JOB RESPONSIBILITIES:

• Develop and maintain comprehensive project cost estimates during the engineering phase.
• Lead the preparation and management of project budgets and financial forecasts.
• Collaborate closely with engineering, procurement, and other teams to ensure precision in cost estimation.
• Monitor and control project expenditures, ensuring strict adherence to the approved budget.
• Produce and deliver regular cost reports, including detailed variance analysis and future cost forecasts.
• Identify and address cost overruns, and propose corrective actions to mitigate financial risks.
• Establish and enforce rigorous cost control procedures to maintain financial discipline.
• Conduct in-depth cost analysis to identify trends, discrepancies, and areas for financial improvement.
• Coordinate with project managers and stakeholders to validate cost estimates and expenditure alignments.
• Review, analyze, and manage contracts to align with cost control objectives.
• Monitor and assess the financial impact of change orders and contract variations.
• Assist in negotiating and managing changes to contracts and claims.
• Identify and evaluate financial risks associated with engineering projects.
• Develop and implement risk mitigation strategies to manage potential cost impacts.
• Provide expert input on risk assessments and contingency planning.
• Partner with project teams, including engineers, procurement specialists, and financial analysts, to ensure effective cost control.
• Communicate cost-related information and recommendations to senior management and other key stakeholders.
• Actively participate in project meetings to offer cost insights and updates.
• Stay abreast of industry best practices and advancements in cost control methodologies.
• Recommend and implement improvements to existing cost control processes and tools.

KEY QUALIFICATIONS:

• Bachelors degree in Engineering, Finance, Accounting, or a related field. Professional certification (e.g., Certified Cost Engineer) is highly desirable.
• 15+ years of experience in cost control or financial management within the oil and gas industry, with a specific focus on engineering projects.
• Extensive knowledge of cost estimation, budgeting, and financial reporting.
• Proficiency with cost control software and Microsoft Office Suite (Excel, Word, PowerPoint).
• Strong analytical and problem-solving abilities.
• Exceptional attention to detail and organizational skills.
• Excellent communication and interpersonal skills, with the ability to influence and negotiate.