Senior Cost Engineer

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Key Responsibilities:

• Oversee all aspects of cost control for upstream oil & gas projects, including drilling, exploration, field development, and reservoir management activities.
• Establish and manage the project cost management system, ensuring accurate development of cost breakdown structures for different project phases.
• Develop and maintain detailed cost estimates for drilling operations, exploration activities, field development plans, and reservoir management strategies.
• Track and update the cost trend register, monthly forecasts, and variance logs across multiple upstream activities, and implement corrective actions for budget variances.
• Collect, organize, and analyze construction and operational cost data for drilling and development projects, maintaining an efficient expense filing system and project database.
• Prepare and submit timely and accurate project cost reports that compare actual performance to the plan and identify potential cost overruns.
• Lead the cost review process both internally and with external partners, ensuring project costs are aligned with the budget.
• Conduct cost risk analysis for exploration and development projects, including drilling and reservoir management, and develop mitigation strategies to manage cost uncertainties.
• Support the preparation of man-hour plans and resource allocation strategies for drilling rigs, exploration campaigns, and field development projects.
• Prepare, manage, and update annual project budgets and work programs for upstream activities, including new exploration wells, development projects, and reservoir optimization.
• Support the implementation of project control procedures across all phases, ensuring strict adherence to schedules and cost targets.
• Prepare daily, weekly, and monthly status reports, keeping management informed of project progress, cost performance, and key risks.
• Work closely with the project teams, task managers, and engineers to define the scope of work for exploration and field development, and identify any cost variations from the original plan.
• Advise senior management on potential cost-related risks in drilling, exploration, and field development, providing recommendations to control costs.
• Develop and maintain cost distribution models to provide a clear breakdown of expenditures for each phase of the project, from exploration through to field development and reservoir management.

Educational Requirements:

� Bachelor’s Degree in Engineering (preferably in Petroleum, Mechanical, or Civil Engineering) or an equivalent qualification in a relevant field.

Desired Candidate Profile

Minimum Relevant Experience: � 10–15 years of proven experience in Upstream Cost Engineering, preferably within the drilling, exploration, field development, and reservoir management phases of oil and gas project