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Cost Engineer

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Petrofac is currently looking to recruit a Cost Engineer based in Aberdeen, UK

What we do

Petrofac is a leading international service provider to the oil and gas production and processing industry. We design, build, operate and maintain oil and gas facilities, which we deliver through a range of flexible and innovative commercial models that can be aligned to an individual client, project or asset. We have a diverse client portfolio which includes many of the world’s leading integrated, independent and national oil and gas companies.

Key Responsibilities:

  • Controlling and reporting costs against the agreed Work Breakdown Structure
  • Monthly budget and project forecasting
  • Produce labour and expense reports
  • Produce Commitment and actual 3rd party cost reports
  • Calculate and report VOWD.
  • Control Project or Contract fee recovery against budget
  • Report against contract KPI’s as required.
  • Manage non-reimbursable costs across Projects and Contracts.
  • Develop project dashboards and reporting monthly through Cost management system M-Power
  • Become full compliant in the use of M-Power system.
  • Preparation of annual budgets; business plans and contract incentive schemes.
  • Monitor the on-going financial performance of each job by preparing monthly management accounts, forecasts and budgets and ensure all commercial and financial reporting deadlines are met.
  • Monitor and provide feedback relative to KPI performance and highlight areas where improvement is necessary to optimise financial return.
  • Check accuracy of Third-Party Invoices against subcontract agreements and approve same as compliance checker where required.
  • Ensure all activities across the projects including minor estimates or CTRs are undertaken in line with client approval process and Petrofac DOA prior to commencement.
  • Calculate Sales and Cost accruals as part of the reporting cycle.
  • Basic Contractual understanding of terms and conditions inclusive of subcontracting terms in relation to the head contract.
  • Ensure all contract documentation is managed via the contract database and that access rights to the database are maintained for the project.
  • Participate in contract reviews and ensure that specific commercial issues, risks and opportunities requiring management are understood and communicated.
  • Input of timesheet information into Oracle for offshore personnel.
  • Ensuring all time is entered in timely fashion ready for approval.
  • Clearance of invalid time against valid codes and project approvals.

  • Essential Skills:

  • Degree qualified (preferably in Quality Surveying/Finance/Accountancy/ Business)
  • Numerate, analytical, with an inquisitive background ·
  • Computer literate with a good understanding of Microsoft Office.
  • Experience of working on an ERP system advantageous

  • Equal Opportunities

    We recruit, reward and develop our people based on merit regardless of race, nationality, religion, gender, age, sexual orientation, marital status or disability. We value our people and treat everyone who works for or with Petrofac fairly and without discrimination.

    If you are selected as a potential candidate, we will be in touch.


    Only candidates can apply for this job.

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