Cost Engineer - Oil & Gas Projects (PMT)

Eram Talent; Dhahran Compound; On-site; USD 70,000 - 100,000; Full time

Job summary

A leading talent acquisition company seeks a skilled Cost Engineer specializing in Oil & Gas Projects. This critical role involves managing financial aspects of projects, ensuring accurate cost estimates, and maintaining oversight throughout the project lifecycle. Candidates should possess a Bachelor's degree and at least 7 years of relevant experience, with strong skills in cost estimation and budgeting.

Qualifications

• Minimum of 7 years of experience in cost engineering for Oil & Gas projects.
• Strong understanding of cost estimation, budgeting, and financial forecasting.
• PMP Certification is preferred.

Responsibilities

• Develop detailed project cost estimates and budgets based on project specifications.
• Analyze project costs and track expenditures to ensure compliance with budgets.
• Collaborate with project teams to identify cost-saving opportunities.

Skills

Cost estimation

Budgeting

Financial forecasting

Analytical skills

Problem-solving

Communication

Education

Bachelor's degree in Engineering, Finance, or a related field

Tools

Cost management software

Microsoft Excel

Job description

A leading talent acquisition company is on the lookout for a skilled and detail-oriented Cost Engineer specializing in Oil & Gas Projects to join our team. This role is vital in ensuring that all financial aspects of projects are managed effectively, from budgeting through to forecasting and cost control. As a Cost Engineer, you will work closely with project managers, engineers, and other stakeholders to deliver accurate cost estimates and maintain financial oversight throughout the project lifecycle.

Responsibilities

• Develop detailed project cost estimates and budgets based on project specifications.
• Has experience in the oil/gas, hydrocarbon, refinery, offshore, or infrastructure industries and has accounting experience on large to mega projects.
• Assists the supervising Project Control Engineer to coordinate with Project Managers, Project Engineers and Project Control Engineers to ensure correct implementation of project accounting and cost control procedures and requirements.
• Reviews and closely monitors project business practices to ensure project cost objectives are met.
• Must have thorough knowledge of project business practices, calculation methods/software, standards, and procedures.
• Accountable and responsible for all project invoices and cost reports.
• Analyze project costs and track expenditures to ensure compliance with budgets.
• Prepare periodic cost reports and perform cost variance analyses.
• Collaborate with project teams to identify cost-saving opportunities and implement cost control measures.
• Review and validate contractor and subcontractor invoices.
• Assist in the preparation of project bid proposals and contract negotiations.
• Provide financial data for project forecasting and performance evaluations.

• Bachelor's degree in Engineering, Finance, or a related field.
• Minimum of 7 years of experience in cost engineering for Oil & Gas projects.
• Strong understanding of cost estimation, budgeting, and financial forecasting.
• A PMP Certification is preferred
• Proficiency in cost management software and Microsoft Excel.
• Excellent analytical, problem-solving, and communication skills.
• Ability to work collaboratively within a team and across departments.
• Experience with procurement processes and contract management.