Lead Cost Engineer

Job Description

Job Purpose / Objective

Responsible for cost control, budgeting, financial reporting, and invoice processing for major offshore development projects. Ensures compliance with corporate finance procedures, accurate cost monitoring, and timely financial reporting across all project packages.

Key Accountabilities

General Responsibilities

Lead cost control activities in accordance with company finance and cost control standards, methods, and deadlines.

Oversee project cost management, cost reporting, and invoice processing with the support of a team of package cost controllers.

Provide regular cost and budget updates to project management for internal and external reporting.

Perform all other cost control-related activities within the assigned project perimeter.

Key Activities

Health, Safety, and Compliance

Promote and comply with company HSE procedures and safety standards in all activities.

Ensure all financial operations adhere to company values, ethical standards, legal requirements, and good industry practices.

Maintain confidentiality of all financial and commercial information.

Budgeting

Prepare Long-Term Operating Plan (LOP) and Long-Range Business Plan (LRBP) data for management review.

Develop detailed annual budgets in coordination with internal stakeholders, ensuring alignment with corporate standards.

Participate in budget presentations and defend budget performance when required.

Monitor budget availability, ensuring accurate tracking of commitments, forecasts, and variances.

Maintain and update commitment and expenditure registers for all contracts and purchase orders.

Perform detailed cost analysis and forecasting.

Ensure accurate and timely cost data entry into corporate financial systems (e.g., SAP).

Invoice Management

Implement and oversee efficient invoicing procedures across multiple project sites.

Monitor invoice processing and ensure timely payment through coordination with the finance department.

Verify accuracy of accruals and ensure monthly financial closure aligns with project progress.

Prepare supporting documentation for audit and compliance purposes.

General and Administrative

Promote cost awareness and accountability across project teams.

Maintain confidentiality of sensitive financial data.

Support internal and external audit processes by providing cost justification and documentation.

Prepare documentation for cost recovery and commercial closeout of contracts.

Archive all financial and contractual documentation in accordance with company standards.

Perform additional duties as assigned by project management.

Requirements

Qualifications & Experience

Education

Required : Degree in Economics, Finance, or equivalent field.

Experience

Minimum of 15 years’ experience in cost control, budgeting, and financial management for large-scale Oil & Gas projects.

Skills and Competencies

Advanced knowledge of financial and project management systems (SAP, Excel, Power BI, Word, PowerPoint).

Strong understanding of EPC contract structures and cost mechanisms.

Excellent analytical, communication, and leadership skills.

Ability to work effectively in complex, multicultural, and fast-paced environments.

Fluency in English (spoken and written).