Cost Engineer

SUMMARY:
Cost Engineer- UK Nationals

POSITION INFO:
Job Summary:
We are seeking an experienced Cost Engineer with 10+ years of experience in oil, gas, and construction projects. The ideal candidate will have a strong background in cost estimation, budgeting, and cost control for large-scale projects. This position is based in Saudi Arabia, and the successful candidate will be responsible for managing all cost-related activities on major projects in the oil and gas sector, ensuring that the projects are completed within budget and on schedule.
Key Responsibilities:

• Develop, manage, and control the project budget and cost estimates for oil, gas, and construction projects.
• Prepare detailed cost estimates for various phases of the project, including design, procurement, construction, and commissioning.
• Monitor and track project costs, ensuring adherence to budget and identifying areas for cost-saving opportunities.
• Conduct cost forecasting and provide regular reports to project managers, highlighting any variances from the budget and recommending corrective actions.
• Review and approve project invoices, change orders, and contractor claims, ensuring they are in line with contract terms and project costs.
• Develop and maintain cost tracking systems to provide accurate and timely reporting on project expenditures.
• Perform cost analysis and value engineering to identify cost-effective solutions without compromising project quality or safety.
• Work closely with the project management team to ensure accurate and realistic financial reporting.
• Review contracts, scope of work, and deliverables to ensure the accurate calculation of costs and schedules.
• Analyze historical cost data and benchmark project costs to ensure that cost estimates are aligned with industry standards and project requirements.
• Assist in risk management processes by evaluating potential cost impacts related to changes, delays, and unforeseen conditions.
• Prepare and present regular cost reports and status updates to stakeholders, including senior management, clients, and contractors.
• Coordinate with procurement teams to monitor the costs of materials, equipment, and services, ensuring the procurement strategy is cost-effective.
• Ensure compliance with company and industry cost control policies, procedures, and standards.
• Develop and implement cost control procedures for monitoring, recording, and reporting project expenditures.
• Provide guidance and support to junior cost engineers and other team members, assisting with training and development.
• Participate in the identification, assessment, and management of project risks, ensuring that cost implications are understood and managed.
• Maintain and update project cost reports and databases, ensuring all changes and variations are accurately recorded.

• Bachelor’s Degree in Engineering, Quantity Surveying, Construction Management, or a related field.
• 10+ years of experience as a Cost Engineer in oil, gas, and construction projects.
• Proven experience in cost estimation, budgeting, and cost control on large-scale, multi-disciplinary projects.
• Strong knowledge of cost management tools and software (e.g., SAP, Primavera P6, Microsoft Project, CostOS, or similar).
• Experience with cost control systems and techniques, including earned value management (EVM), and the ability to prepare cost forecasts.
• Excellent analytical skills with the ability to assess cost data, perform cost analysis, and make recommendations for cost optimization.
• Strong understanding of project management, engineering, procurement, and construction activities, particularly in the oil and gas industry.
• In-depth knowledge of procurement, contract management, and change order processes.
• Ability to prepare and present detailed reports and cost analyses to senior management and clients.
• Familiarity with international standards and regulations in the oil and gas sector (e.g., ISO, AACE).
• Strong communication skills, both verbal and written, to effectively collaborate with project teams, contractors, and clients.
• Ability to work independently and manage multiple tasks while adhering to tight deadlines.

• Professional certifications such as Certified Cost Professional (CCP), AACE International, or equivalent.
• Experience with cost estimation software and databases.
• Knowledge of local Saudi Arabian regulations and construction practices is a plus.
• Experience working on oil & gas projects in the Middle East or specifically in Saudi Arabia is an advantage.
• Fluency in English; proficiency in Arabic is a plus.

• Competitive salary and benefits package.
• Opportunities for career advancement and professional development.
• Exposure to high-profile projects in the Middle East.
• A collaborative, innovative, and supportive work environment.