The Cost Controller is responsible for monitoring and managing project costs for Oil & Gas projects to ensure alignment with approved budgets and contractual requirements. Leveraging a strong engineering background, the role provides technical insight for cost forecasting, supports project managers in decision-making, and ensures financial control throughout engineering, procurement, construction, and commissioning phases.
Key Responsibilities
1. Cost Planning & Budget Development
Develop detailed project budgets for upstream, midstream, or downstream Oil & Gas projects.
Establish and maintain Work Breakdown Structures (WBS) consistent with project scope.
Interpret engineering deliverables, P&IDs, layouts, and material take-offs (MTOs) for accurate cost estimation.
2. Cost Monitoring & Control
Track actual costs versus budget across engineering, procurement, construction, drilling, and commissioning activities.
Maintain cost control systems and ensure accurate cost coding for labor, materials, equipment, and subcontractors.
Identify cost variances and root causes; propose corrective actions to prevent cost overruns.
3. Forecasting & Reporting
Prepare monthly cost reports, cash flow forecasts, and cost-to-complete (CTC) evaluations.
Conduct Earned Value Management (EVM) analysis to measure project performance.
Present cost status updates to project managers, finance teams, and senior management.
4. Change & Risk Management
Assess cost impacts of engineering revisions, technical queries (TQs), and scope changes.
Participate in Management of Change (MOC) processes and provide cost impact assessments for change orders.
Identify cost risks and opportunities related to design, procurement and site execution.
5. Coordination & Collaboration
Work closely with engineering, procurement (SCM), project management, and construction teams.
Support tender evaluations and vendor selection through cost benchmarking and commercial review.
Coordinate with finance for accruals, cost coding alignment, and month-end reporting.
Qualifications
Education
Bachelor's degree in Engineering (Mechanical, Civil, Electrical, Process, or related field).
Certification in cost engineering (AACE-CCP/CEP) or project management (PMP) is a plus.
Experience
3-10 years of cost control or project controls experience within the Oil & Gas sector (EPC, refinery, petrochemical, drilling, offshore, or pipeline projects).
Experience working with engineering deliverables and understanding Oil & Gas project lifecycle.
Technical Skills
Proficiency with cost control tools (EcoSys, SAP, Oracle, Primavera, Ares Prism).
Strong understanding of Oil & Gas technical documents such as P&IDs, isometrics, and material requisitions.
Advanced Excel skills; Power BI or data analytics knowledge is an advantage.
Familiarity with EVM, WBS, job costing, progress measurement, and reporting standards.
Soft Skills
Strong analytical and problem-solving ability.
Excellent communication and reporting skills.
Ability to work under pressure in a fast-paced project environment.
High attention to detail and strong organizational skills.
Key Competencies
Cost control & forecasting
Project budgeting
Change management
Technical understanding of Oil & Gas systems
Risk identification and mitigation
Stakeholder communication
Data-driven decision making
Job Type: Full-time
Pay: From ?50,000.00 per month
Work Location: In person
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