Cost Control Engineer - Oil and Gas industry
Job Description
Job title:
Cost Control Engineer - Oil and Gas industry
Job Code:
Company:
Gulfsands Petroleum Levant LTD (GPLL)
Department:
Technical
Reports to:
Technical Manager
Education:
Bachelor’s degree in engineering
Sector:
Oil and Gas industry
Country/City:
Syria Damascus
Experience:
+10 years
Type:
Full Time
Language:
English / Arabic
Job Summary
The Cost Control Engineer is responsible for planning, monitoring, analyzing, and controlling project and operational costs to ensure expenditure remains within approved budgets while achieving business objectives. The role supports management through cost forecasting, variance analysis, budgeting, reporting, and financial performance monitoring. The incumbent works closely with engineering, project, operations, procurement, and finance teams to improve cost efficiency, support decision-making, and ensure effective financial control throughout project lifecycles and operational activities.
Key Responsibilities:
- Develop, maintain, and monitor project and operational budgets.
- Prepare, monitor, and control AFEs (Authorization for Expenditure) for drilling, workover, and facility projects.
- Track value of work done (VOWD) and support cost recovery and partner reporting under the production sharing agreement.
- Track actual costs against approved budgets and identify cost variances.
- Prepare periodic cost reports, forecasts, and financial performance analyses.
- Monitor commitments, expenditures, accruals, and cash flow requirements.
- Conduct cost trend analysis and provide recommendations for cost optimization.
- Support project managers and department heads in budget planning and control activities.
- Review contracts, purchase orders, and service agreements for cost control compliance.
- Coordinate with Procurement, Finance, Engineering, and Operations teams to validate cost data.
- Develop and maintain cost control systems, procedures, and reporting tools.
- Analyze project progress and assess financial impacts on overall project performance.
- Participate in estimating, budgeting, and economic evaluation of projects.
- Ensure accurate cost allocation and adherence to company financial policies.
- Support management in preparing annual budgets and long-term financial plans.
- Identify financial risks and recommend mitigation measures.
- Assist in audits and provide supporting documentation for financial reviews.
Skills and Competencies:
- Strong knowledge of cost control principles, budgeting, and financial management.
- Knowledge of AFE management, VOWD assessment, and cost recovery principles under production sharing agreements.
- Understanding of upstream oil and gas cost structures across drilling, workover, production, and facilities activities.
- Proficiency in cost forecasting, variance analysis, and financial reporting.
- Excellent analytical and numerical skills.
- Strong understanding of project management and project control methodologies.
- Knowledge of contract administration and procurement processes.
- Advanced Microsoft Excel and data analysis capabilities.
- Familiarity with ERP systems and project cost management software.
- Strong problem-solving and decision-making skills.
- Attention to detail and high level of accuracy.
- Excellent communication and presentation skills.
- Ability to work effectively with multidisciplinary teams.
- Strong organizational and time-management skills.
Education:
- Bachelor's degree in engineering, preferably Petroleum, Chemical, Industrial, Mechanical, Civil, or a related engineering discipline.
- Additional qualifications in Finance, Accounting, Project Management, or Cost Engineering are an advantage.
- Professional certifications such as AACE Certified Cost Professional (CCP), PMP, or equivalent are preferred.
Experience Requirements:
- Minimum 10 years of experience in cost control, project controls, project engineering, or financial management in O&G.
- Experience in O&G upstream, construction, industrial, or infrastructure projects is preferred.
- Proven experience in budgeting, forecasting, cost analysis, and reporting.
- Familiarity with project planning and scheduling practices.
- Experience using cost control software, ERP systems, and reporting tools.
- Demonstrated ability to manage multiple projects and cost accounts simultaneously.
- Experience in contract cost management and change control processes is an advantage.
- Experience with AFE preparation and tracking, joint venture cost reporting, or PSA cost recovery is an advantage.
Work Environment:
- Primarily office-based with occasional travel to project locations, contractors, or company facilities.
- Close collaboration with Project Management, Engineering, Procurement, Operations, and Finance teams.
- May require participation in project review meetings and audits.
- Work may involve managing multiple priorities and strict reporting deadlines.
- Compliance with company policies, financial controls, and HSE requirements.
- Availability to support critical project milestones, budget cycles, and financial reporting periods.
Apply Now
Or email us at recruitment@gulfsands.com
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