Cost Engineer

Posted almost 2 years ago by MSELECT
Location Sharjah, United Arab Emirates Job Type
Salary Sector Oil & Gas
MSELECT is looking to hire a Cost Engineer for oil and gas operation company in Sharjah, the candidate must have 10+ years experience in drilling accounting, understanding of stock, inventory control and management. fluent in English.


Duties & Responsibilities: 

  • Monitor and report drilling expenditure daily to internal management and our Joint Venture (JV) Partners
  • with the goal of drilling the cost-effective wells.
  • develop and produce cost reports for submission to the drilling team, JV Partners, and management and the corporate office to explain the drilling cost performance
  • Verifies invoices, which includes code, contract compliance, checking against commitment, budget levels
  • initiate plans for the Improvement of company systems and procedures for cost control
  • assist the drilling department with the preparation of Authorizations for Expenditure ("AFEs"), particularly as regards developing realistic cost estimates for activity line items within each AFE.
  • operate and maintain detailed systems and written procedures for the control of CAPEX in excess of a certain amount per year that will satisfy the requirements of quality accreditation and periodic audits
  • maintain historical drilling and completion cost/expenditure records and data against which trends may be measured and estimates developed
  • provide any and all necessary support during routine audits of drilling costs by corporate auditors, partners, and statutory auditors.

Qualifications & Experience 

  • University degree in Engineering
  • Good understanding of drilling accounting with relevant experience.
  • Good understanding of drilling equipment and processes
  • Solid forecasting and arithmetic skills
  • Good understanding of stock, inventory control and management
  • Understanding JV accounting
  • Fluent in English language

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