Cost Engineer

Job Description: Cost Engineer 

The Cost Engineer will be responsible for tracking, analysing, and reporting operational costs across the business. This includes close monitoring of capital (CAPEX) and operating expenses (OPEX), supporting budget preparation and forecasting, tracking actual vs. budgeted costs, and working with operations to ensure cost efficiency. The ideal candidate will have prior experience in the upstream oil & gas industry, with a solid understanding of field operations and a hands-on approach to financial control.

Key Responsibilities

• Deliver consistent but appropriate cost engineering structures for projects, modifications and maintenance for ONEgas West 
• Monitor daily, weekly, and monthly CAPEX and OPEX spending across all assets and projects.
• Develop and maintain cost tracking models and dashboards for management and field teams.
• Analyse variances between actual costs and budgets/AFE estimates and provide actionable insights.
• Work with Operations, Drilling, Completions, and Production teams to validate costs and explain variances.
• Support annual budgeting process and quarterly forecasts.
• Maintain rolling forecasts of costs by project and asset.
• Assist with AFE preparation and tracking, ensuring alignment with operational plans.
• Prepare cost reports for management, partners, and stakeholders.
• Support monthly close process, providing accurate accruals and cost estimates.
• Ensure compliance with internal controls and cost coding policies.
• Partner closely with Engineering, Land, and accounting teams to ensure accurate and timely cost data.
• Work with Accounts Payable to ensure proper coding and allocation of invoices.
• Support Joint Interest Billing (JIB) accuracy by ensuring costs are coded correctly to wells, leases, and projects.
• Assist with the Roll-out of the Company standard tools and processes and apply them on maintenance processes.
• Develop and Implement Project Cost and Schedule Management Plan.
• Implementation of cost breakdown structures (CBS) and their population from the estimate.
• Develop Work Breakdown Structure (WBS) and document Cost Time and Resource (CTR) sheets for phased cost estimates in line with the Company guidance notes for agreement and sign-off by the CTR budget holders.
• Provide project guidance for creation of accurate cost dashboards, identifying variances from the plan on commitment, value of work done, changes and currency fluctuations against approved Authorities for Expenditure (AFEs).
• Assist in analysis of trends and benchmarking for different levels of the organisation.
• Maintain and promote realism in the cost forecasts in the face of commercial pressure and optimism from maintenance teams.
• Maintain consistency in cost basis through rigorous adherence to the control processes
• Assist in cost analysis and maintain timely commercial close out to support VOWD process.
• Develop and Manage Capex MIP processes.

Qualifications

• Bachelor’s degree in Accounting, Finance, Engineering, or related field.

Experience

• 4+ years of experience in cost control, project controls, or operations accounting, preferably in upstream oil & gas.
• SAP P16
• SAP Business Warehouse (BW) PB6 / PB7
• Experience with oil & gas accounting/ERP systems
• Strong understanding of upstream oil & gas operations (drilling, completions, production, facilities).
• Proficient in Microsoft Excel and cost modeling.
• Ability to interpret operational data and financial statements.
• Strong analytical and problem-solving skills.
• Excellent communication and collaboration skills across departments.
• Self-starter with ability to thrive in a fast-paced, entrepreneurial environment.

WORKING CONDITIONS

Location: Great Yarmouth 
Hours: 24 hours per week 
Contract: Permanent 

There are many great reasons to work at Altrad – 

Competitive Benefits

In order to attract and retain skilled, competent and customer focused people we offer a competitive and extensive benefits package providing a suite of both contractual and voluntary benefits including access to corporate discounts. Employee benefits will depend on work location and role, however, may include life assurance, income protection, and private medical insurance.

In addition we recognize the importance of providing flexibility to our employees and offer hybrid working, a Flexi Friday working arrangement as well as the opportunity to purchase additional annual leave.

COMPANY INFORMATION 

Altrad is an international leader in the provision of industrial services, generating high-added value solutions principally for the Oil & Gas, Energy, Power Generation, Process, Environment and Construction sectors. The Group is also a recognised leader in the manufacturing of equipment dedicated to the Construction and Building market. Altrad’s multidisciplinary services range from engineering and technical services to maintenance, access solutions and specialised services for industry leaders. Headquartered in France, the Group employs around 65,000 people and is still led by its Founder and President Mohed Altrad. 

CONTACT

Think this role could be the perfect match for you? We’d love to hear from you! Simply complete the job application, and if you have any questions along the way, our Recruitment Team is here to help, just reach out to us at AIS.Careers@Altrad.com