Cost Engineer - Oil & Gas Projects (PMT)

Saudi Petroleum Services Polytechnic; Saudi Arabia; On-site; SAR 200,000 - 300,000; Full time

Job summary

A leading talent acquisition company seeks a skilled Cost Engineer for Oil & Gas Projects. The role focuses on managing financial aspects from budgeting to cost control, working alongside project managers and engineers. Responsibilities include developing detailed estimates, analyzing costs, and ensuring compliance with budgets.

Qualifications

• Experience in oil/gas, hydrocarbon, or infrastructure industries.
• Accounting experience on large to mega projects.
• Thorough knowledge of project business practices and cost estimation methods.

Responsibilities

• Develop project cost estimates and budgets based on specifications.
• Monitor business practices to meet project cost objectives.
• Prepare periodic cost reports and perform variance analyses.

Skills

Budgeting

Cost Control

Cost Analysis

Financial Oversight

Collaboration

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.