Cost Engineer

4 weeks ago

india Skills Hunt Consultancy (سكيلز هانت للاستشارات) Full time

Job Title: Cost Engineer

Job Type: Full-Time

Industry: Oil & Gas / Energy


Job Description:

We are seeking an experienced Cost Engineer to join our team for a high-profile Project. The ideal candidate will possess strong analytical skills and a deep understanding of cost control practices and project management within the oil & gas sector. This role involves working closely with project managers, engineers, and other stakeholders to ensure cost efficiency and project profitability.


Key Responsibilities:

  • Cost Estimation & Analysis: Prepare detailed cost estimates and forecasts for the project, including material, labor, and equipment costs. Analyze and validate the accuracy of project cost data.
  • Budget Management: Develop, monitor, and maintain project budgets, ensuring that costs remain within the approved budget throughout the project lifecycle.
  • Cost Control & Reporting: Track and control project expenditures, including managing cost control systems and producing monthly cost reports. Highlight any deviations or risks to the project budget.
  • Risk Management: Identify potential cost-related risks and provide recommendations for mitigation strategies to ensure project cost stability.
  • Contract Management: Review contracts and agreements with vendors, subcontractors, and suppliers to ensure alignment with project budgets and cost control measures.
  • Cash Flow Forecasting: Assist in preparing cash flow forecasts to ensure that the project remains financially viable.
  • Project Performance Reviews: Conduct cost performance reviews and variance analysis to ensure cost efficiency and adherence to financial targets.
  • Collaboration with Stakeholders: Work closely with project management, procurement, engineering, and finance teams to ensure smooth project execution and financial compliance.
  • Cost Database Management: Maintain a database of cost benchmarks and historical data for use in future cost estimation and analysis.


Qualifications & Experience:

  • Bachelor's degree in Engineering, Finance, or a related field; a Master's degree is preferred.
  • 5-15 years of experience in cost engineering or cost control, preferably in the oil & gas industry.
  • Experience working on large-scale projects such as those within Aramco or other major energy sector projects.
  • Strong analytical and problem-solving skills, with the ability to interpret complex data and present insights.
  • Excellent communication skills, with the ability to effectively collaborate with multi-disciplinary teams.
  • Knowledge of industry standards and practices, including those specific to the Middle East region and Aramco’s requirements.

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