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4 Jul 2021

Full-Time Cost Engineer

Crescent Petroleum  – Posted by gjobpres Sharjah, UAE

Job Description

A well-known and well-reputed Company based in Sharjah, United Arab Emirates is looking for an experienced, skilled, competent, mature, qualified, creative, and intelligent candidate with significant knowledge and relevant working experience for the position of “Cost Engineer”.

Company Name Crescent Petroleum 
Qualification Masters Degree | Bachelors Degree 
Experience 8 – 10 years of Relevant Experience Required
Monthly Salary 15,000 AED – 18,000 AED
Employment Type Full Time | Permanent
Company Size 50-100 Employees
Benefits Medical Insurance 
Location Sharjah

Job Duties and Responsibilities: 


This person will be responsible for:

  • Project Cost Monthly/ Annual Reports, integration with Drilling Cost Engineer within the Exploration and Production Department (E&P).
  • Work Program & Budget (WPB), work in collaboration with Drilling Engineer and Heads of the E&P and Projects department
  • Assist with Compilation AFE’s, and financial reporting
  • Invoice processing and procurement in SAP require checking of project Purchase Requisitions (PR’s) to correct project-specific WBS codes and raising Services Entry Sheets (SES) so as to effect payment to Vendors and Contractors.
  • Liaise with Finance for WPB updates annual and monthly, plus preparing monthly accruals and budget transfers
  • Management of Change Process
  • Management of Change (MOC), maintain trend register of changes assist cost engineer, with gaining Project Management approvals.
  • Maintain individual Project Staffing plans of all project-specific roles, with reporting on positions planned versus actual positions filled. This also on reporting Project demobilization of personnel as various projects near completion
  • Maintain project risk register as part of the Project Monthly Report.


  • Preparation of Value of Work Done (VOWD) and Earned values as Project works progress based on validated progress as agreed with Company Management and Contractors.
  • Attend ad-hoc meetings with various departments in order to gain data and do a cost/ financial analysis as and when required.
  • Interact with field-based Cost Engineers, Quantity Surveyors, Planners Construction managers as and when required for estimates for additional works and validation of invoices.
  • Set-up integrated Project Cost Reporting model in Excel so as that all main data is linked in one model, with outputs such as Project Report Table, Executive Summary Table, AFE spend status,
  • Trend/ MOC register, Staffing Plan, original budget, current budget, pending changes, approved changes, forecast to complete, contingency run-down register, and should also include a risk register. NB: this requires advanced knowledge/ Level of Excel
  • Assist Finance to depart with accruals, preparation and write up of WPB, a compilation of AFE’s complete with Estimates done by Cost Engineers.
  • Loading of Approved AFE into SAP as per Projects standard WBS and arranging with finance to release the budgets.
  • Gaining approvals for changes by project management and arranging budget transfer between WBS line items and also from the WBS contingency line items.
  • Supply Chain (SCM), interfacing is required to ensure Purchase Requisitions are checked for validation to corrects AFE and WBS budget line items. These checks are also to confirm that the correct material codes are being applied, which may require gaining new codes in the event these items are not listed in the Company catalog of items.
  • SAP daily review on PR approval status, and also the monthly raising of Service Entry Sheets for completed works.
  • Review Change Requests from Contractor/ Vendors that they are in line with the Compensation clause of Contract/ Work
  • Assist lead Project Control Manager Projects with a compilation of ITT inputs to SCM, this is mainly reviewing Scope of Work and creating pricing tables Contractors to Bid.
  • Assist Project leaders with preparing a range of various cost analyses and other cost-related reports.

Minimum Educational, Technical Qualifications/Certifications Required

  • BA, bachelor’s degree in accounting and or finance
  • Project Management Professional Certification (from a recognized organization
  • Minimum of 10 years experience in Project Cost Controls & Accounting
  • Minimum of 10 years experience in Energy Sector Projects/ Oil & Gas Sectors.
  • Experience in SAP-associated Project-related activities is a must.
  • Strong Experience in Software is required which is project and finance related.

How to Apply

Job Categories: Accounting & Finance. Job Types: Full-Time. Job Tags: Accountant, Accounts, Accounts and Finance, and Cost Engineer. Salaries: Less than 20,000.


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