Senior Cost Engineer (Oil & Gas) at Terra Energy Services Nigeria Limited

Job Summary:

We are seeking an experienced Senior Cost Engineer with 5–7 years of experience in the oil and gas industry to support cost estimation, budgeting, and financial control for projects. The ideal candidate will be responsible for monitoring expenditures, performing cost analysis, and ensuring financial efficiency across project lifecycles.

Job Description:

• Develop and maintain project cost estimates, budgets, and forecasts.
• Monitor project expenditures to ensure they align with approved budgets.
• Conduct cost variance analysis and risk assessments to identify potential cost overruns.
• Prepare cash flow forecasts, financial reports, and cost control updates.
• Ensure compliance with NOGICD Act 2010 and NCDMB regulations.
• Work closely with project managers, procurement, and finance teams to validate cost estimates and track expenditures.
• Support contract negotiations by providing cost breakdowns and impact analysis.
• Implement cost control strategies to optimize project financial performance.
• Maintain and update cost databases for accurate reporting.
• Provide input for tender evaluations and bid analysis.

Academic Qualification:

• University degree/Higher National Diploma in a relevant discipline (Engineering, Finance, Project Management, or related field).

Work Experience:

• 5–7 years of experience in cost engineering, budgeting, and financial control in the oil and gas industry.

Technical/Leadership Skills:

• Strong knowledge of cost estimation, budgeting, and forecasting techniques.
• Proficiency in cost management software (SAP, Primavera Cost, or equivalent tools).
• Experience in Earned Value Management (EVM) and cost control principles.
• Understanding of NOGICD Act 2010 and compliance requirements.
• Ability to analyze cost trends, deviations, and implement corrective actions.
• Strong stakeholder management and financial reporting skills.
• Knowledge of contract administration, procurement, and vendor cost analysis.

Key Skills:

• Proficiency in MS Office (Excel, PowerPoint, Word, etc.).
• Excellent analytical and problem-solving skills.
• Ability to manage multiple projects and deadlines efficiently.
• Strong attention to detail and financial planning skills.

Principal Accountabilities:

• Develop and maintain accurate cost estimates and project financial reports.
• Conduct cost variance analysis and recommend mitigation measures.
• Ensure compliance with NCDMB and regulatory cost management guidelines.
• Provide real-time cost tracking and forecasting.
• Support contract and procurement teams with cost-related insights.

Soft Skills:

• Effective Communication
• Attention to Detail
• Problem-Solving
• Collaboration & Teamwork
• Financial Acumen & Strategic Thinking