Senior Cost Engineer (Oil & Gas) at Terra Energy Services Nigeria Limited

Terra Energy Services (TES) is an indigenous Engineering and Oil and Gas Service Company incorporated in Nigeria in 2001 with expertise in providing full-service integrated solutions to clients across the entire oil and gas value chain. We currently operate from our offices in Lagos and Port-Harcourt and aspire to become the leading provider of quality Oil and Gas Engineering Services in West Africa. At Terra Energy Services, we maintain a policy of creating a conducive environment for the attraction of the best qualified and motivated staff for performance enhancement.

We are recruiting to fill the position below:

Job Title: Senior Cost Engineer (Oil & Gas)

Location: Lagos

Job Summary

• We are seeking an experienced Senior Cost Engineer with 5–7 years of experience in the oil and gas industry to support cost estimation, budgeting, and financial control for projects. 
• The ideal candidate will be responsible for monitoring expenditures, performing cost analysis, and ensuring financial efficiency across project lifecycles.

Job Description

• Develop and maintain project cost estimates, budgets, and forecasts.
• Monitor project expenditures to ensure they align with approved budgets.
• Conduct cost variance analysis and risk assessments to identify potential cost overruns.
• Prepare cash flow forecasts, financial reports, and cost control updates.
• Ensure compliance with NOGICD Act 2010 and NCDMB regulations.
• Work closely with project managers, procurement, and finance teams to validate cost estimates and track expenditures.
• Support contract negotiations by providing cost breakdowns and impact analysis.
• Implement cost control strategies to optimize project financial performance.
• Maintain and update cost databases for accurate reporting.
• Provide input for tender evaluations and bid analysis.

Principal Accountabilities:

• Develop and maintain accurate cost estimates and project financial reports.
• Conduct cost variance analysis and recommend mitigation measures.
• Ensure compliance with NCDMB and regulatory cost management guidelines.
• Provide real-time cost tracking and forecasting.
• Support contract and procurement teams with cost-related insights.

Academic Qualifications

• University degree/Higher National Diploma in a relevant discipline (Engineering, Finance, Project Management, or related field).

Work Experience:

• 5 - 7 years of experience in cost engineering, budgeting, and financial control in the oil and gas industry.

Technical/Leadership Skills:

• Strong knowledge of cost estimation, budgeting, and forecasting techniques.
• Proficiency in cost management software (SAP, Primavera Cost, or equivalent tools).
• Experience in Earned Value Management (EVM) and cost control principles.
• Understanding of NOGICD Act 2010 and compliance requirements.
• Ability to analyze cost trends, deviations, and implement corrective actions.
• Strong stakeholder management and financial reporting skills.
• Knowledge of contract administration, procurement, and vendor cost analysis.

Key Skills:

• Proficiency in MS Office (Excel, PowerPoint, Word, etc.).
• Excellent analytical and problem-solving skills.
• Ability to manage multiple projects and deadlines efficiently.
• Strong attention to detail and financial planning skills.

Soft Skills:

• Effective Communication
• Attention to Detail
• Problem-Solving
• Collaboration & Teamwork
• Financial Acumen & Strategic Thinking.

Application Closing Date
Not Specified.