Responsibilities
- Collaborate with project managers, engineers, and other stakeholders to develop and manage project budgets for exploration and production activities.
- Monitor project costs, expenses, and expenditures, ensuring alignment with approved budgets and financial guidelines.
- Analyze cost performance data, identify variances, and provide timely reports to management, highlighting potential cost overruns or savings opportunities.
- Assist in forecasting project costs, considering factors like resource allocation, procurement, and market fluctuations.
- Evaluate the financial impact of project changes, scope adjustments, and other factors that may influence project costs.
- Implement and maintain cost control procedures, ensuring compliance with company policies and industry best practices.
- Support in the preparation of financial presentations and reports for internal and external stakeholders, such as management, partners, and regulatory agencies.
- Collaborate with procurement teams to track vendor contracts, invoices, and payments, ensuring accurate cost allocation.
- Provide cost-related insights to aid decision-making and assist in developing strategies to optimize project costs.
- Stay informed about industry trends, regulations, and advancements related to cost control in the oil and gas sector.
Requirements
- Bachelor’s degree in finance, accounting, engineering, or a related field. Master’s degree is a plus.
- Proven experience (3+ years) as a Cost Control Specialist within the oil and gas industry, preferably in exploration and production projects.
- Strong understanding of project budgeting, cost management, and financial analysis.
- Proficiency in using cost control software and tools to track and monitor project expenses.
- Excellent analytical skills with the ability to interpret and present complex cost data effectively.
- Detail-oriented with strong organizational skills and the ability to work under pressure.
- Excellent communication and interpersonal skills to collaborate with cross-functional teams.
- Familiarity with relevant industry standards, regulations, and reporting requirements.
- Advanced proficiency in Microsoft Excel and financial modeling tools.
- Ability to adapt to changing project requirements and prioritize tasks accordingly.
