Cost Controller

1)       Job Summary

The Cost Controller is responsible for planning, monitoring, forecasting, analyzing, and controlling all project and operational costs associated with drilling, completion, workover, well intervention, plug & abandonment (P&A), engineering, procurement, marine logistics, and integrated well services.

The role ensures that projects are executed within approved budgets through proactive cost monitoring, commitment tracking, forecasting, variance analysis, cost optimization, and financial reporting. The Cost Controller works closely with engineering, operations, procurement, finance, contracts, and clients to provide accurate financial information that supports informed business decisions and maximizes project profitability.

The position serves as the financial control focal point throughout the project lifecycle, from tender estimation and project award through execution, close-out, and lessons learned.

2)       Key Responsibilities

A. Project Cost Planning

• Develop project cost breakdown structures (CBS).
• Prepare project budgets.
• Establish project cost baselines.
• Develop cost coding structures.
• Prepare cash flow forecasts.
• Estimate manpower costs.
• Estimate equipment utilization costs.
• Estimate logistics costs.
• Estimate subcontract costs.
• Prepare budget revisions.
• Support tender pricing activities.
• Participate in project kick-off meetings.

B. Cost Monitoring & Control

• Monitor actual project expenditures.
• Compare actual versus budget.
• Monitor commitments.
• Review purchase orders.
• Review subcontract expenditures.
• Monitor labor costs.
• Monitor equipment rental costs.
• Monitor marine logistics costs.
• Monitor accommodation costs.
• Monitor travel costs.
• Monitor consumables.
• Identify cost overruns.
• Recommend corrective actions.

C. Forecasting

• Prepare monthly cost forecasts.
• Forecast Estimate at Completion (EAC).
• Forecast Estimate to Complete (ETC).
• Forecast project cash flow.
• Forecast project profitability.
• Forecast cost exposure.
• Develop financial scenarios.
• Monitor project margins.

D. Cost Reporting

Prepare:

• Daily Cost Reports
• Weekly Cost Reports
• Monthly Cost Reports
• Budget Performance Reports
• Cash Flow Reports
• Cost Variance Reports
• Commitment Reports
• Revenue Forecast Reports
• Profitability Reports
• Executive Cost Dashboards

E. Financial Analysis

• Cost trend analysis.
• Productivity analysis.
• Earned Value Management (EVM).
• Variance analysis.
• Margin analysis.
• Resource utilization analysis.
• Equipment utilization analysis.
• Labor efficiency analysis.
• Cost benchmarking.
• Financial risk analysis.

F. Procurement & Commercial Support

• Review purchase requisitions.
• Verify procurement budgets.
• Review vendor quotations.
• Review purchase orders.
• Support contract negotiations.
• Review payment certificates.
• Validate variation orders.
• Support claims preparation.

G. Change Management

• Review change requests.
• Estimate change impacts.
• Track approved variations.
• Monitor pending changes.
• Maintain change registers.
• Support Management of Change (MOC).

H. Project Close-Out

• Final cost reconciliation.
• Final cost report.
• Profitability analysis.
• Lessons learned.
• Close project accounts.
• Archive financial records.

I. Governance & Compliance

• Ensure financial compliance.
• Maintain audit trails.
• Support internal audits.
• Support external audits.
• Maintain cost documentation.
• Ensure compliance with company financial procedures.

J. Continuous Improvement

• Improve cost reporting processes.
• Develop dashboards.
• Implement automation tools.
• Improve forecasting accuracy.
• Benchmark project performance.
• Develop cost management procedures.

3)       Authorities

The Cost Controller is authorized to:

• Review project expenditures.
• Reject unsupported cost claims.
• Recommend budget adjustments.
• Recommend cost-saving initiatives.
• Request supporting documentation.
• Escalate significant cost overruns.
• Recommend suspension of unauthorized expenditures.
• Approve routine cost reports.
• Recommend approval of variation pricing.
• Participate in commercial reviews.

4)       Qualifications & Requirements

• Education: Bachelor's Degree in Finance, Accounting, Quantity Surveying, Engineering, Economics, Business Administration, or equivalent.
• Experience: 8 years project cost control, Oil & Gas industry experience, Experience supporting drilling or well services projects, Experience with budgeting, Experience with forecasting, Experience with cost reporting.
• Mandatory Certifications: Certified Cost Professional (CCP) (preferred), PMP (preferred), SAP Training, Primavera P6 (preferred), Advanced Microsoft Excel, Power BI, ERP Training, ISO 9001 Awareness, H2S Awareness (if offshore support required).
• Language: Proficient in English and Bahasa Malaysia (written and spoken).
• Technical Skills: Experience in using Financial Systems such as SAP, Oracle ERP, Microsoft Dynamics, Maximo (preferred). Experience in Project Controls such as Primavera P6, Microsoft Project, Power BI, Power Query, Power Pivot.

5)       Preferred Skills and Competencies

• Candidate with experience in Offshore operations, EPC/EPCIC projects, PETRONAS projects, International operations, Integrated Well Services and Marine logistics.
• Strong organizational and planning skills.
• Excellent communication, coordination, and interpersonal skills.
• Willingness to travel to project sites as required.