Cost Engineer Jobs

An Oil and Gas Cost Engineer in Australia is responsible for meticulously analyzing and managing the financial aspects of oil and gas projects, including cost estimations, tracking expenditures, identifying cost-saving opportunities, and ensuring project budgets are adhered to throughout the development and production phases, all while complying with relevant Australian regulations and industry standards. 

Key Responsibilities:

• Cost Estimation:
• Develop detailed cost estimates for project phases, including engineering, procurement, construction, installation, and commissioning, using industry-standard tools and methodologies. 
• Analyze project scope, design specifications, and market conditions to accurately predict project costs. 
• Benchmark cost estimates against historical data and industry benchmarks to identify potential cost risks. 
• Cost Tracking and Reporting:
• Monitor project expenditures against approved budgets, identifying variances and potential cost overruns. 
• Prepare regular cost reports for project stakeholders, highlighting key cost trends and areas for optimization. 
• Analyze cost drivers and identify opportunities for cost reduction strategies. 
• Change Order Management:
• Review and evaluate proposed change orders, assessing their impact on project costs and schedule. 
• Collaborate with project teams to develop cost-effective solutions for change orders. 
• Risk Management:
• Identify and assess potential cost risks associated with projects, including market fluctuations, unforeseen site conditions, and regulatory changes. 
• Develop mitigation strategies to minimize cost risks and protect project budgets. 
• Contract Administration:
• Review and analyze vendor contracts to ensure cost competitiveness and compliance with project requirements. 
• Manage cost aspects of procurement activities, including price negotiations and contract administration. 
• Collaboration and Communication:
• Work closely with project engineers, project managers, and other stakeholders to ensure cost awareness and alignment with project goals. 
• Communicate cost information effectively to senior management and key decision-makers. 



Required Skills and Qualifications:

• Bachelor's degree in Engineering (Petroleum, Chemical, or related field)
• Proven experience in cost engineering within the oil and gas industry
• Strong understanding of project management principles and cost control methodologies
• Proficiency in cost estimation software and tools
• Excellent analytical and problem-solving skills
• Strong communication and interpersonal skills to collaborate with diverse teams
• Familiarity with Australian regulations and industry standards related to oil and gas projects