Cost Engineer

1 week ago

South Africa Jobted ZA C2 Full time

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.

Qualifications:

- Bachelors 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.

Preferred Skills:

- 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.

What We Offer:

- 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.

How to Apply:

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