Cost Controller (Engineering Background – Oil & Gas)

Job Description: Cost Controller (Engineering Background – Oil & Gas)

Position Summary

The Cost Controller is responsible for monitoring and managing project costs for Oil & Gas projects to ensure alignment with approved budgets and contractual requirements. Leveraging a strong engineering background, the role provides technical insight for cost forecasting, supports project managers in decision-making, and ensures financial control throughout engineering, procurement, construction, and commissioning phases.

Key Responsibilities

1. Cost Planning & Budget Development

• Develop detailed project budgets for upstream, midstream, or downstream Oil & Gas projects.
• Establish and maintain Work Breakdown Structures (WBS) consistent with project scope.
• Interpret engineering deliverables, P&IDs, layouts, and material take-offs (MTOs) for accurate cost estimation.

2. Cost Monitoring & Control

• Track actual costs versus budget across engineering, procurement, construction, drilling, and commissioning activities.
• Maintain cost control systems and ensure accurate cost coding for labor, materials, equipment, and subcontractors.
• Identify cost variances and root causes; propose corrective actions to prevent cost overruns.

3. Forecasting & Reporting

• Prepare monthly cost reports, cash flow forecasts, and cost-to-complete (CTC) evaluations.
• Conduct Earned Value Management (EVM) analysis to measure project performance.
• Present cost status updates to project managers, finance teams, and senior management.

4. Change & Risk Management

• Assess cost impacts of engineering revisions, technical queries (TQs), and scope changes.
• Participate in Management of Change (MOC) processes and provide cost impact assessments for change orders.
• Identify cost risks and opportunities related to design, procurement and site execution.

5. Coordination & Collaboration

• Work closely with engineering, procurement (SCM), project management, and construction teams.
• Support tender evaluations and vendor selection through cost benchmarking and commercial review.
• Coordinate with finance for accruals, cost coding alignment, and month-end reporting.

Qualifications

Education

• Bachelor’s degree in Engineering (Mechanical, Civil, Electrical, Process, or related field).
• Certification in cost engineering (AACE-CCP/CEP) or project management (PMP) is a plus.

Experience

• 3–10 years of cost control or project controls experience within the Oil & Gas sector (EPC, refinery, petrochemical, drilling, offshore, or pipeline projects).
• Experience working with engineering deliverables and understanding Oil & Gas project lifecycle.

Technical Skills

• Proficiency with cost control tools (EcoSys, SAP, Oracle, Primavera, Ares Prism).
• Strong understanding of Oil & Gas technical documents such as P&IDs, isometrics, and material requisitions.
• Advanced Excel skills; Power BI or data analytics knowledge is an advantage.
• Familiarity with EVM, WBS, job costing, progress measurement, and reporting standards.

Soft Skills

• Strong analytical and problem-solving ability.
• Excellent communication and reporting skills.
• Ability to work under pressure in a fast-paced project environment.
• High attention to detail and strong organizational skills.

Key Competencies

• Cost control & forecasting
• Project budgeting
• Change management
• Technical understanding of Oil & Gas systems
• Risk identification and mitigation
• Stakeholder communication
• Data-driven decision making

Job Type: Full-time

Pay: From ₹50,000.00 per month

Work Location: In person