Cost Engineer

Description

The Cost Engineer will be responsible for tracking, analysing, and reporting operational costs across the business. This includes close monitoring of capital (CAPEX) and operating expenses (OPEX), supporting budget preparation and forecasting, tracking actual vs. budgeted costs, and working with operations to ensure cost efficiency. The ideal candidate will have prior experience in the upstream oil & gas industry, with a solid understanding of field operations and a hands-on approach to financial control.

• Provide project guidance for creation of accurate cost dashboards, identifying variances from the plan on commitment, value of work done, changes and currency fluctuations against approved Authorities for Expenditure (AFEs).
• Assist with the Roll-out of the Company standard tools and processes and apply them on maintenance processes.
• Implementation of cost breakdown structures (CBS) and their population from the estimate.
• Support monthly close process, providing accurate accruals and cost estimates.
• Monitor daily, weekly, and monthly CAPEX and OPEX spending across all assets and projects.
• Develop and maintain cost tracking models and dashboards for management and field teams.
• Assist in analysis of trends and benchmarking for different levels of the organisation.
• Deliver consistent but appropriate cost engineering structures for projects, modifications and maintenance for ONEgas West
• Prepare cost reports for management, partners, and stakeholders.
• Support Joint Interest Billing (JIB) accuracy by ensuring costs are coded correctly to wells, leases, and projects.
• Assist with AFE preparation and tracking, ensuring alignment with operational plans.
• Maintain rolling forecasts of costs by project and asset.
• Work with Operations, Drilling, Completions, and Production teams to validate costs and explain variances.
• Ensure compliance with internal controls and cost coding policies.
• Analyse variances between actual costs and budgets/AFE estimates and provide actionable insights.
• Develop and Implement Project Cost and Schedule Management Plan.
• Support annual budgeting process and quarterly forecasts.
• Work with Accounts Payable to ensure proper coding and allocation of invoices.
• Develop Work Breakdown Structure (WBS) and document Cost Time and Resource (CTR) sheets for phased cost estimates in line with the Company guidance notes for agreement and sign-off by the CTR budget holders.
• Develop and Manage Capex MIP processes.
• Partner closely with Engineering, Land, and accounting teams to ensure accurate and timely cost data.
• Maintain and promote realism in the cost forecasts in the face of commercial pressure and optimism from maintenance teams.
• Maintain consistency in cost basis through rigorous adherence to the control processes
• Assist in cost analysis and maintain timely commercial close out to support VOWD process.

Requirements

• Proficient in Microsoft Excel and cost modeling.
• Self-starter with ability to thrive in a fast-paced, entrepreneurial environment.
• SAP P16
• Strong understanding of upstream oil & gas operations (drilling, completions, production, facilities).
• Strong analytical and problem-solving skills.
• Experience with oil & gas accounting/ERP systems
• Excellent communication and collaboration skills across departments.
• 4+ years of experience in cost control, project controls, or operations accounting, preferably in upstream oil & gas.
• Bachelor’s degree in Accounting, Finance, Engineering, or related field.
• SAP Business Warehouse (BW) PB6 / PB7
• Ability to interpret operational data and financial statements.

Benefits

Competitive Benefits

In order to attract and retain skilled, competent and customer focused people we offer a competitive and extensive benefits package providing a suite of both contractual and voluntary benefits including access to corporate discounts. Employee benefits will depend on work location and role, however, may include life assurance, income protection, and private medical insurance.

WORKING CONDITIONS

In addition we recognise the importance of providing flexibility to our employees and offer hybrid working, a Flexi Friday working arrangement as well as the opportunity to purchase additional annual leave.

Training + Development

Interview process

Visa Sponsorship

Security clearance