Cost Controller

Posted 11 months ago by MSELECT
Location Erbil, Iraq Job Type
Salary Sector Oil & Gas

MSELECT is looking to hire a Cost Controller for an international oil operator in Erbil. Minimum 2-4 years in the same role preferably with oil and gas industry, fluency in English and Kurdish is a must.


  • A Cost Controller is responsible for controlling the project costs; This includes planning, Developing, controlling, and forecasting the project's budget.
  • The goal of a cost controller is to minimize the deviation from the budget and ensure that the project is completed within the approved budget.
  • Prepare reports and statements as required by the PSCs (Production Statements, Value of Production and Pricing Statements, Cost Recovery and Share Account Statements, Statements of Expenditures and Receipts, Final End-of-Year Statements, Budget Statements etc.) and submit them to the Government in a timely manner;
  • Interact with representatives of the Government concerning data included in the statements under PSC to ensure their completeness and accuracy;
  • Review recoverable and non-recoverable costs for the accounting and reporting purposes in accordance with PSCs;
  • Ensure expenditure control, calculate revenue and expenditure variances from the budget and explain and report variances to management, analyses trends and recommend appropriate budget/ forecast levels;
  • Assemble information for external auditors for the annual audit and for the audits required by PSCs and interact with them in completing audits;
  • Interact with representatives of allied structural units of the branch and head office, inc. in order to ensure that all appropriate transactions are included in the respective statements in a timely manner;
  • Interact with outsourcing accounting company who provides accounting and reporting services with respect to PSC reporting.

Experience, qualifications and skills

  • University degree in economics, accounting or business administration;
  • ACCA, CPA, CIA, CMA, CIMA qualification would be an asset;
  • Knowledge of finance, accounting, budgeting and cost control principles including General Accepted Accounting Principles (US GAAP or IFRS)
  • Knowledge of and practical experience in financial reporting under standards applied in Kurdistan Region – Iraq is a plus;
  • 2-4 years of in-depth accounting experience in financial departments of oil & gas /exploration/ audit companies;
  • Understanding of influence of management decisions on financial statements, ability to analyze data and draft operational reports;
  • Understanding the economics of the Product Sharing Contracts (PCS), work experience with the PSC;
  • Must have advanced Excel skills;
  • Excellent attention to detail, ability to multitask.

*Only applicants meeting the strict criteria outlined above will be contacted as part of the shortlisting process.

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