Cost Engineer

Job Title

Cost Engineer

Reporting To

Lead Cost Controller

Job Purpose

Support cost control activities across major multi-year engineering projects by managing budgets, commitments, invoicing, and financial reporting. Ensure accurate cost tracking and alignment with project objectives and financial standards.

Key Responsibilities

Budget & Cost Control

• Prepare and manage annual budgets in coordination with internal stakeholders.
• Monitor budget utilization and control availability against commitments.
• Track expenditures, identify trends, and explain variances between forecast and budget.
• Maintain cost registers for commitments, expenditures, and forecasts across all contracts and purchase orders.
• Perform detailed cost analysis and reporting.

Financial Systems & Reporting

• Input and manage cost data in ERP systems (e.g., SAP) including commitments, payment schedules, invoices, and timesheets.
• Coordinate with finance teams to ensure proper allocation of shared and general costs.
• Prepare monthly cost reports, including accruals aligned with project progress.

Invoicing & Payment Management

• Implement and manage invoicing processes across project locations.
• Review and monitor invoices to ensure timely processing and payment.
• Liaise with accounting teams to resolve invoice issues and ensure accuracy.

Procurement Support

• Review and validate Purchase Requisitions (PRs) and Purchase Orders (POs).
• Identify discrepancies and propose corrective actions.
• Support continuous improvement by applying lessons learned in procurement workflows.

Stakeholder Coordination

• Collaborate with finance, procurement, and project teams on cost-related matters.
• Act as a key interface for cost control across multiple project functions.
• Support cost transparency and promote cost-conscious practices across the organization.

Governance & Compliance

• Ensure compliance with HSE policies, company procedures, and industry best practices.
• Maintain confidentiality of financial and project data.
• Support internal controls, audits, and reporting requirements.

Key Deliverables

• Accurate budget planning and cost tracking
• Timely financial reporting and monthly closures
• Efficient invoicing and payment processes
• Reliable cost forecasts and variance analysis

Project Context

• Large-scale, multi-year offshore development projects including platform installations, pipelines, and infrastructure upgrades
• Multiple projects executed simultaneously across international locations
• High-value CAPEX program (multi-billion USD investment)

Qualifications & Experience

• Degree in Finance, Economics, Business Administration, Engineering, or related field
• Minimum 6 years of experience in cost control, preferably in Oil & Gas or large EPC projects
• Strong knowledge of:
  • SAP or similar ERP systems
  • Excel, Power BI, and reporting tools
• Experience in budgeting, forecasting, and financial analysis
• Good analytical and problem-solving skills
• Strong communication and stakeholder management abilities
• Fluent in English

Core Competencies

• Stakeholder collaboration and communication
• Analytical thinking and attention to detail
• Adaptability in complex project environments
• Accountability and continuous improvement mindset
• Ability to work in multicultural and cross-functional teams