Cost Engineer at WTS Energy

Job Summary

The Cost Engineer will provide cost engineering service on various projects in the design and execution phase, undertaking scheduling, schedule controlling, reporting analysis, forecasting, and schedule optimization on major project development for the asset to support project delivery and business growth.

Main Responsibilities

• Managing and optimizing the financial performance of projects within the asset.
• Develop detailed cost estimates for projects, including materials, labor, equipment, and other expenses, ensuring accuracy and alignment with project objectives using appropriate tools and systems.
• Monitor and analyze project budgets, identifying variances and recommending corrective actions to maintain financial control.
• Work closely with project teams to develop cost-effective strategies and solutions, optimizing resource utilization and minimizing waste.
• Prepare and maintain comprehensive cost reports and documentation, providing regular updates to key stakeholders.
• Assist in the preparation and evaluation of project tenders, contracts, and procurement activities for the asset, ensuring compliance with company standards and industry best practices.
• Identify opportunities for cost savings and process improvements, implementing best practices to enhance financial performance and operational efficiency.
• Serve as an advisor to project teams on cost control principles and tools for informed decision-making.
• Perform complete analysis and cost validations using internal and external benchmarking data, historical indices, and component benchmarking.
• Ensure compliance with financial regulations, company policies, and industry standards, for transparency and accountability purposes.
• Champion the process of performing cost reconciliation to previous estimates as the project develops.

Educational Qualifications and Skills

• Bachelor’s degree in Engineering, Finance, Quantity Surveying, or a related field.
• An advanced degree (Master’s ) in a relevant discipline is preferred.
• Possession of professional certification (e.g., AACE, CCP) is an added advantage.
• Minimum 7 years of experience in cost engineering or financial management within the upstream oil and gas industry or an EPC company.
• Experience in the Niger Delta/Rivers region is essential
• Strong numerical accuracy skills with the ability to interpret financial data to provide actionable insights.
• In-depth knowledge of upstream oil and gas cost management principles, project management methodologies, and best practices.
• Strong business acumen and commercial awareness.
• Keen attention to detail and a commitment to delivering high-quality results.
• Proficiency in the use of cost estimation and financial analysis software such as Oracle, SAP, or equivalent.
• Strong knowledge of HSE (Health, Safety, and Environmental) standards and best practices.
• Strong organizational and project management skills.
• Ability to handle multiple projects simultaneously and meet deadlines.
• Ability to adapt to changing operational conditions and work in a dynamic environment.
• Willingness to travel to field locations and work in challenging conditions as required