Senior Cost Engineer (Well Engineering)

Job Responsibilities

The Senior Cost Engineer (Well Engineering) will provide meaningful
expert cost engineering support across clients onshore and
offshore exploration, appraisal and production assets, with a primary
Focus on well engineering projects.
The job holder will be responsible for establishing and maintaining
robust cost control, budgeting, forecasting, and reporting
frameworks across the project portfolio, ensuring accurate and
timely financial information is available to project stakeholders, joint
venture partners, and the board.
This job holder will partner closely with Finance and the Technical

• Cost Control and Reporting
  Work with asset leads to establish, standardise, and maintain
  project cost control frameworks for both onshore and offshore
  drilling programmes, aligned with company Project Management
  Systems.
• Compile, verify, and report monthly budget, commitment, Value
  of Work Done (VOWD), and Anticipated Final Cost (AFC)
  figures, including variance analysis and management narrative
  teams to drive cost discipline, improve performance visibility, and
  support the company's commercial objectives.
• Maintain accurate cost allocation across different ventures and assets, including JV cost-sharing structures, based on technicalinputs and agreed commercial terms.
• Monitor and challenge contractor progress and VOWD reports

using deliverable registers, CTRs, progress reports, and other
available information.
● Develop and maintain project-specific Cost Control Procedures
and tools within the company's project management framework.
Budgeting and Forecasting
● Prepare detailed cost estimates, AFEs (Authorities for
Expenditure, and budget submissions for drilling campaigns
and associated capital projects.
● Develop and maintain project-specific funding and budgeting
information, including shareholder-level breakdowns, and
Coordinate approvals through required governance channels.
● Prepare cost forecasts in support of funding requests, counter
estimates, change order evaluations, and trend analysis.
● Develop owner's cost analysis and projections to ensure
completeness of cost management and to support management
reporting.
JV and Commercial Coordination
● Coordinate with Finance, Supply Chain Management,
Commercial, and Legal teams on the drafting and completion of
Cost Sharing Agreements and relevant JV cost recharge
frameworks.
● Liaise with JV partner cost representatives to align on cost
reporting, cash calls, funding updates, and audit requirements.
● Provide all necessary project financial information to Finance
and shareholder representatives in a timely and accurate
manner, including cash calls and funding updates.
Contractor and Compliance Management
● Work with the contract holder to ensure contractor monitoring
and reporting processes comply with company policies and
procedures, enabling accurate cost tracking and forecasting.
● Review, verify, and challenge contractor invoices, change
orders, and claims in coordination with the Technical teams and
Commercial function.
○ Support the audit and assurance process for project
costs, including JV audits and internal controls reviews
Stakeholder Engagement
● Work with the accountant to present cost performance reporting
to project stakeholders, senior management, and JV partners in
a clear and structured manner.
● Provide ad hoc cost analysis and decision support to the
Technical and Finance teams as required.
○ Contribute to the continuous improvement of cost
engineering processes, tools, and reporting standards
across the business

Job Requirements
• Bachelor’s degree in Engineering, accounting, or Quantity
Surveying, or a related technical or commercial discipline.
• A postgraduate degree is an advantage.
• Professional Well Engineering Certification – IWCF or Rd 1 & Rd
equivalents are a must
• Professional certification in cost engineering strongly preferred
AACE International (CCP, CEP, or equivalent), RICS, or
APM.
• Additional finance or project management qualifications (e.g.
PMI, PRINCE2) are an advantage.
Experience
• Minimum 8 to 12 years of practical Well Engineering Experience
involving well planning, budgeting, cost and AFE preparation in
an operating environment.
• Proven track record of managing cost control and reporting on
well programmes, including AFE preparation, VOWD tracking,
and AFC management.
• Experience with industry cost preparation and monitoring
software.
• Strong analytical and numerical skills with high attention to detail
and commitment to data accuracy.
• cost engineering experience in the oil and gas sector, with
demonstrable exposure to both onshore and offshore drilling
environments.
• Direct experience working within joint venture structures,
including JV (and PSC) cost reporting, cost sharing, cash calls,
and partner audits.
• Experience working with international oil companies (IOCs),
Independents, or NOC-driven environments, are an advantage.
• Familiarity with Nigerian upstream regulatory and commercial
Frameworks are desirable but not essential.
Knowledge, Skills & Competencies
• Strong technical knowledge of upstream project cost control
methodologies, including earned value management, trend
analysis, and contingency management.
• Proficiency in cost management tools and systems—specific
platforms to be confirmed; experience with industry-standard
cost systems (e.g. SUN, Oracle, Prism, EcoSys, or similar)
expected.
• Advanced proficiency in Microsoft Excel; experience with
Power BI or equivalent reporting tools are an advantage.
• Solid understanding of drilling operations and well construction cost
drivers and associated services contracts.

• Excellent interpersonal and communication skills, with the ability
to engage credibly with technical, commercial, and finance
audiences.
• Ability to manage multiple workstreams concurrently and deliver
too tight reporting deadlines.
• Sound judgement and the ability to identify, escalate, and
Resolve cost issues in a timely manner.
• Strong communication skills with the ability to present complex
technical data to non-technical stakeholders
• Demonstrated commitment to health, safety and environmental
standards in all aspects of engineering work.
• Expertise in identifying and applying strategies to optimize
production, including well performance evaluation, completion
design, artificial lift systems, and production forecasting
• Knowledge of production logging, nodal analysis, and other
techniques to analyze well performance and suggest
improvements.
• Familiarity with simulation history matching, and uncertainty
quantification to improve model accuracy.
• Project management and planning skills.
Personal Attributes
• Proactive and self-motivated; takes initiative without requiring
close supervision.
• Collaborative team player who builds strong working
relationships across disciplines.
• Detail-oriented with a structured and methodical approach to
problem-solving.
• Resilient and adaptable in a dynamic, fast-paced upstream
environment.
• High integrity with a commitment to accurate and transparent
reporting.
• Problem-Solving Mindset
• Attention to Detail
• Excellent analytical, problem-solving, and decision-making
abilities
• Team-Oriented
• Effective Communicator
• Adaptability
• Strong Leadership Skills