Senior Cost / Budget Controller

Penspen Ltd; Al Khafji; On-site; SAR 320,000 - 520,000; Full time

Job summary

Penspen Ltd is seeking an experienced Cost Manager/Cost Controller for major Oil & Gas projects in Alkhafji, KSA. The role oversees project cost management, budgets, and forecasts, ensuring alignment with contractual commitments and PMS requirements.

Responsibilities include reviewing EPC contractor estimates, leading cost reviews, validating invoices and variation orders, and supporting cost baselines and cash flow forecasting. A strong background in project cost engineering is essential.

Qualifications

• Bachelor's degree or equivalent in engineering or related field.
• 10+ years overall cost engineering experience for major Oil & Gas projects.
• Capable of evaluating project cost accounting and procedures.

Responsibilities

• Provide overall cost management and budget control oversight.
• Review cost estimates, budgets, commitments and forecasts from EPC contractor.
• Lead cost reviews and prepare variance analyses and recommendations.
• Support cost baselines, change control procedures and cash flow forecasting.
• Review and validate claims, invoices and variation orders for accuracy.

Skills

Cost management

Budgeting

Cost control

Contract analysis

Education

Bachelor's Degree in Engineering

Diploma with related certificate

Tools

ERP systems

Costing software

Job description

Penspen is a leading energy services company, providing engineering, project management, asset management and integrity services to the energy industry worldwide for over 70+ years. Originally founded in the UK in 1954 as Spencer & Partners, the company has now grown to include almost 1,000 members of staff, with major offices in London, Mexico, Colombia Houston and Abu Dhabi, Saudi Arabia, Kuwait. https://www.penspen.com

About the job:

Provide overall cost management and budget control oversight for the project, ensuring EPC contractor financial performance aligns with approved budgets and contractual commitments. Review cost estimates, budgets, commitments, and forecasts submitted by the EPC contractor. Lead cost reviews, validate progress and cost reports, and provide variance analysis and recommendations. Evaluate contractor cost control procedures, ensuring compliance with PMS and Client requirements. Support the Project Controls Manager in developing cost baselines, change control procedures, and cash flow forecasting. Review and validate claims, invoices, and variation orders for accuracy and contract compliance. Prepare monthly cost performance summaries and support final cost closeout and lessons learned documentation.

Education & years of Experience:

Alternative (I): Bachelor's Degree in Engineering/Quantity Surveying/Administration/Business or Equivalent closely related field. Alternative (II): Diploma or Equivalent with a Certificate from a recognized agency in project cost related expertise.

Alternative (I): Ten (10) Years Alternative (II): Fourteen (14) years A minimum of Six (6) years Project cost engineering experience for major Oil and Gas/Petrochemical projects. Capable of evaluating and consulting on project cost accounting.

The job location will be based on Alkhafji - KSA.