We are seeking an experienced Cost Engineer who can support for planning, monitoring, controlling, and forecasting project costs throughout the project lifecycle, including engineering, procurement, construction, and commissioning activities. The role ensures that oil and gas projects are executed within approved budgets by monitoring expenditures, analyzing cost variances, preparing financial forecasts, and identifying cost-saving opportunities. He will works closely with Project Managers, Project Controls Engineers, Planning Engineers, Quantity Surveyors, Procurement Teams, and Construction Managers on EPC, FEED, PMC, and oil & gas construction projects.

A. Cost Planning and Budget Management

• Develop and maintain project cost estimates, budgets, and cost control plans.
• Establish project cost baselines and Cost Breakdown Structures (CBS).
• Monitor project expenditures against approved budgets.
• Prepare detailed cost reports for engineering, procurement, construction, and commissioning activities.
• Identify potential cost overruns and recommend corrective actions.

B. Cost Monitoring and Control

• Track actual costs, committed costs, and forecasted expenditures.
• Analyze cost variances between budgeted and actual expenditures.
• Monitor subcontractor payments, purchase orders, and material costs.
• Review and validate contractor invoices and payment applications.
• Ensure project costs are accurately recorded and allocated.

C. Cost Forecasting and Reporting

• Prepare monthly cost reports and financial performance summaries.
• Develop Estimate at Completion (EAC) and Estimate to Complete (ETC) forecasts.
• Prepare project cash flow forecasts.
• Perform Earned Value Management (EVM) analysis.
• Monitor Cost Performance Index (CPI) and Schedule Performance Index (SPI).

D. Contract and Change Management

• Evaluate the financial impact of project variations and change orders.
• Support the commercial team in reviewing contractor claims.
• Assess cost implications of engineering and design modifications.
• Assist in contract cost evaluations and budget adjustments.
• Coordinate with procurement teams to monitor material and equipment costs.

E. Project Coordination

• Coordinate with project management, engineering, planning, procurement, and construction teams.
• Participate in project cost review meetings.
• Support risk assessments related to project cost exposure.
• Maintain cost control documentation and historical project cost records.
• Ensure compliance with client requirements and project cost control procedures.

• Bachelor's Degree in Engineering (Mechanical, Civil, Electrical, or related discipline)
• 8-12 years in cost engineering or project cost control in Oil & Gas, Petrochemical, Refinery, Offshore, or Industrial Construction
• must have experience in EPC, FEED, PMC are advantageous
• Strong knowledge in Primavera P6, SAP, Oracle Primavera Unifier, Excel, Power BI, or other cost control systems
• Knowledge of AACE cost engineering practices and project controls procedures

• Project Cost Estimation
• Cost Planning and Budgeting
• Cost Monitoring and Control
• Cost Forecasting (EAC / ETC)
• Earned Value Management (EVM)
• Cost Variance Analysis
• Cash Flow Forecasting
• Cost Breakdown Structure (CBS)
• Work Breakdown Structure (WBS)
• Change Order and Variation Management
• Project Financial Reporting
• Risk and Contingency Analysis
• Contract and Subcontract Cost Management