Addax Petroleum is a subsidiary of the Sinopec Group, one of the largest oil and gas producers in China, the biggest oil refiner in Asia and the third largest worldwide.
Addax Petroleum was founded in 1994 upon leading petroleum industry expertise and a deep-rooted understanding and respect for African cultures. Over the years, Addax Petroleum has evolved from a young pioneer into an established international oil and gas exploration and production company focused on Africa, the Middle East, and the North Sea.
Addax Petroleum is recruiting to fill the below position:
Job Title: Cost Engineer
Job Number: 140532
Location: Lagos
Position Description
Develop and ensure structured, consistent and accurate cost control, reporting and estimating for the Facilities department. Maximise the use and integration of cost control and WBS systems.
Position Requirements
Job Duties/Responsibilities/Accountabilities
- Provide support to individual Project Engineers (PE’s) in establishing and maintaining up to date Authority for Expenditure (AFE) and related supporting documents including variance analysis of cost over/underuns.
- Monitor expenditure monthly on a Value of Work Done (VOWD) basis for all ongoing Projects(contracts) and department/team budgets and in conjunction with Project Engineers (PE’s) produce cost forecasts (latest estimates) to provide timely notification of potential over/underruns against approved budgets (AFE’s).
- Produce monthly/quarterly/annual variance and trend analysis expenditure reports and explain key cost movements with respect to commitments, actuals (VOWD basis), latest estimates against plan as agreed with responsible PM’s.
- Provide support to PE’s to establish and maintain cost progress S-curves (inclusive of actuals, forecasts, and commitments) for all ongoing Projects. Prepare overall department rolled up reports on the same basis.
- Produce cost reports (monthly, quarterly and annually) as required, giving planned, actual and forecast costs, for all ongoing projects and contracts, in line with the agreed AFE’s/WBS.
- Produce other ad-hoc reports on cost information that may be required from time to time.
- Review and verify monthly accruals as produced by Project Accountants/PE’s to ensure that they are correctly align with VOWD reporting against AFE’s and overall budgets.
- Maintain a Cost Estimating system (including Cost Breakdown System), including a database of historical project costs, and provide cost estimating support to PE’s for new projects / project variations and to assist in forecasting of costs to completion. Maintain a system for storage and retrieval of Facilities departmental budget and cost documents.
- Provide support to PE’s in their preparation of proposals to TB for both new contracts and contract variations to cover cost over/underruns.
- Establish and maintain close interface liaison with assigned Project Accountants.
Key Performance Indicators/Performance Goals
- Maintain accurate tracking, analysis and reporting of departmental budget performance at individual Project/AFE level to ensure that cost overruns are indentified prior to incurring any unauthorised expenditures.
- Prepare the cost input to the departmental monthly report by the 10th working day of the following month.
Financial Dimensions
No direct responsibility but indirectly annual Facilities budget can be in the order of $US 100 – 500 million.
Job Specifications
- University degree or Higher National Diploma in engineering or relevant technical discipline.
- Membership of a relevant Professional Institution preferred but not essential.
- Minimum 8 year’s experience as a Cost Engineer within the oil and gas industry.
- Familiarity with Cost Control and WBS/CBS systems.
- Full capabilities in MS Word, MS Excel, MS Power Point.
- 30 years of old
Key Competencies Requirements
- Good understanding of the key activities involved in Project Management of oil and gas projects within both onshore and offshore environments.
- Sound knowledge and practical experience in estimating, forecasting, monitoring and reporting project costs within a project engineering environment.
- Proficient in MSWord/Excel/Powerpoint.
- Good interpersonal skills required, including the ability to liase with Project Engineers and Project Accountants to extract, as well as provide, key information relating to project costs.
- Well developed ability to prepare reports, narratives and presentations that are accurate, to a high level of quality and on time.
- Well organised, interactive, good attention to detail, ability to work to deadlines.
Application Closing Date
Not Stated
How to Apply
Interested and qualified candidates should:
Click here to apply online