Project Cost Engineer Job Gulf Energy

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Job Purpose

The purpose of the Cost Engineer role is to provide comprehensive cost management, cost control, forecasting, and financial reporting support for the project and operations. The role is responsible for monitoring project expenditures, analysing cost performance, supporting budgeting and forecasting activities, and ensuring accurate financial tracking and reporting across project well engineering, Facilities, production and operations activities.

Key Responsibilities

Operational & Project Cost Support

• Compile and maintain daily, weekly, and monthly project cost reports for operational and capital project activities.
• Track and monitor costs and commitments against approved budgets, forecasts, and AFEs.
• Prepare cost forecasts and assist in the development of project budgets and cost estimates using historical and current project data.
• Perform detailed cost reconciliation and variance analysis between actual expenditures and approved budgets.
• Maintain accurate records of commitments, accruals, invoices, and expenditure allocations.
• Support the preparation of final project cost reports and close-out reconciliations.
• Ensure project cost records reconcile with company financial systems and official ledgers.
• Review cost allocation data provided by Finance and ensure accurate incorporation into project cost reports.
• Assist in the administration and financial monitoring of contractor and service agreements, including invoice verification and pre-approval processes.
• Support procurement, contracts, logistics, and operations teams with financial and cost-related analysis as required.
• Prepare routine cost performance reports, dashboards, and management presentations.

Cost Control & Analysis

• Monitor project cost performance and identify cost trends, risks, and potential overruns.
• Provide recommendations for cost optimization and efficiency improvements.
• Participate in project planning, budgeting, and forecasting reviews.
• Support change management processes by assessing financial impacts of scope changes and variations.
• Ensure timely reporting of cost variances and potential financial exposures.

Stakeholder Engagement

• Build and maintain effective working relationships with internal stakeholders, contractors, suppliers, and regulatory entities.
• Liaise closely with Finance, Procurement, Contracts, Operations, Logistics, and Project teams to ensure alignment on cost reporting and controls.

Integration with Planning and Scheduling

• Ensure integration of cost with the Integration Project Schedule (IPS)
• Align cost performance with schedule progress and project milestones

Qualifications

• Bachelor’s degree in engineering, Finance, Accounting, Quantity Surveying, Project Management, or a related discipline.
• Professional certification in Cost Engineering, Project Controls, Finance, or Accounting is an added advantage.
• Minimum of 5 years’ experience in cost engineering, project controls, cost management, or financial analysis within the oil and gas, energy, or large infrastructure sectors.
• Experience supporting drilling, production, facilities, EPC, logistics, or capital project operations is desirable.
• Strong understanding of project cost control principles, budgeting, forecasting, cost estimation, and financial reporting.
• Experience working with AFEs, accruals, commitments, contractor cost management, and cost reconciliation processes.
• Familiarity with ERP systems and project cost management software is desirable.
• High proficiency in Microsoft Office Suite, particularly Excel.
• Strong analytical, organizational, interpersonal, and stakeholder management skills.
• Awareness of operational and project spend profiles within oil and gas environments.

How to Apply

Click here to apply

Applications close June 26, 2026 at 5:00pm East African Time.