Job Title: Lead Cost Engineer
Role Overview
The Lead Cost Engineer is responsible for overseeing all cost control activities within the Project, ensuring compliance with company Finance & Cost Control standards. This includes budget preparation, cost reporting, invoice processing, and coordination across multiple EPIC packages.
Key Responsibilities
Budget Management
- Prepare and review detailed LOP and LBRP data.
- Develop annual budgets and updates in coordination with internal stakeholders, aligned with company finance formats.
- Monitor budget availability and control commitments.
- Analyze budget performance, identify trends, and justify variances.
- Maintain registers for commitments, expenditures, and forecasts.
- Provide input to SAP (PALM) system for commitments, invoicing, and cost control.
- Ensure fair allocation of G&A and common costs in collaboration with company Finance.
Cost Control & Reporting
- Lead cost control activities with support from package cost controllers.
- Issue monthly internal and external cost reports, including trend analysis, budget variances, and forecasts.
- Maintain auditable records of expenditures, contracts, budgets, and forecasts.
- Interface with company Finance for corporate financial reporting.
- Supervise EPC contractors’ cost control reporting.
Invoice Management
- Implement efficient invoicing processes across project locations.
- Monitor invoice processing and ensure timely payments.
- Standardize cost control activities across packages.
- Advise contractors on commercial requirements post-award.
- Anticipate additional cost control needs during project execution.
Project Closure
- Ensure accurate monthly closures and accruals in SAP.
- Prepare documentation for compliance and financial closure.
- Archive financial records per company guidelines.
General Duties
- Promote cost awareness and confidentiality.
- Liaise with internal/external auditors for cost justification.
- Prepare documentation for project cost recovery.
- Support commercial close-out of contracts.
- Perform additional tasks as assigned by management.
Qualifications & Experience
- Bachelor’s degree in Economics or equivalent.
- Minimum 15 years of experience in cost control for Oil & Gas projects.
- Proficiency in SAP, Excel, Word, PowerPoint, and Power BI.
- Strong understanding of EPC contract mechanisms.
- Fluent in English.