Cost Controller at Geoplex Drillteq Limited. - Nigeria

Job Summary:

• The Cost Controller will manage, track, and optimise costs associated with oil field services and rig operations. This position works closely with Supply Chain, Operations, Finance, and Vendor Management teams to ensure spending is aligned with budgets and contracts, and supports the organisation’s drive for cost efficiency and financial discipline.

Key Responsibilities

• Maintain a detailed and regularly updated cost tracker spreadsheet of all materials, equipment, and services used in rig operations.
• Ensure the cost sheet includes unit prices, vendors, frequency of purchase, delivery timelines, and usage metrics.
• Support the development and management of standard cost libraries for commonly used rig services and consumables.
• Work alongside the Supply Chain team to review and compare vendor quotations.
• Analyze pricing structures, delivery schedules, and service terms.
• Conduct price benchmarking exercises across similar vendors and contracts.
• Participate in negotiations to drive cost savings without compromising quality or operational efficiency.
• Collaborate with Supply Chain and Operations to shortlist and recommend preferred vendors based on price, performance history, payment terms, and compliance.
• Maintain a preferred vendor matrix for rig-related categories (e.g., diesel, spares, transport, catering, third-party rig support).
• Ensure that Purchase Orders (POs) reflect accurate quantities, unit prices, cost centers, and tax codes.
• Verify compliance with internal control policies and approved budgets.
• Validate that PO amounts align with contracts and actual service delivery.
• Provide real-time cost data, variance reports, and forecasting insights to Project Managers, Finance Controllers, and Executives.
• Analyse deviations between budgeted and actual spend, highlighting root causes and risk areas.
• Support preparation of AFE (Authorization for Expenditure) and post-job cost review packs.
• Monitor spending against approved AFE, job cost sheets, and budgets.
• Flag potential overruns and support escalation and reforecasting processes.
• Reconcile vendor invoices against delivery reports and POs.
• Ensure all cost documentation (quotes, invoices, PO copies, contracts, delivery notes) are stored and archived systematically.
• Support internal audits by providing cost backup and audit trails.

Qualifications and Experience

• Bachelor's degree in Finance, Accounting, Economics, Supply Chain, or related field.
• ICAN/ACCA Membership will be an added advantage
• 3+ years in cost control, preferably in an oil and gas environment. 
• Familiarity with SAP software for cost tracking and reporting.
• Strong Excel skills (pivot tables, lookups, modelling).
• Understanding of oil and gas procurement and logistics.