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Jobs in Malaysia   »   Jobs in United Kingdom - Malaysia   »   Finance / Banking / Insurance jobs   »   Cost Engineer - Wells

Cost Engineer - Wells

Company Overview

EnQuest is an independent production and development company with operations in the UK, North Sea and Malaysia. The Group's strategic vision is to be the operator of choice for maturing and underdeveloped hydrocarbon assets by focusing on operational excellence, differential capability, value enhancement and financial discipline.

We are committed to operating responsibly and will not compromise our health, safety or environmental standards to meet our business objectives. Through respect for our people, our contractors, our customers, our stakeholders and the environment, we will operate to achieve our principal aim: Safe Results, with no harm to people and respect for the environment.

We recognise that our people are critical to our success. We have a strong set of Values that underpin our way of working and are dedicated to delivering Safe Results. We provide a rewarding work environment, with opportunities for growth and learning while contributing to the delivery of our strategy. New employees will be encouraged to contribute fresh ideas and take on new challenges that test their abilities and elevate their performance to new levels.

Position Overview

The role is to support the Cost Lead in the day to day management of Wells costs.

Principal Accountabilities

(Key tasks/services for which incumbent is responsible)
  • Day to day cost tracking;
  • Ensure correct information is being tracked in cost tracking system (CTX)
  • Continued understanding of EFC and daily cost with transparent reporting of these numbers
  • During operations, submit daily cost to offshore to be added to DDR
  • Liaise with Engineers and service providers to ensure accurate tracking of daily expenditure against project
  • Review of time writing for EnQuest personnel, ensuring approved personnel are time writing correctly and rejecting any unapproved time writing
  • Manage Maximo for cost areas of responsibility, inputting AFE's and approving Purchase Requisitions and Purchase Orders
  • Preparation of accurate monthly reports;
  • Provide monthly report to relevant JV accountant and/or project team for calculation of monthly accruals
  • Ensure all invoices, commitments and time writing have been recorded
  • Ensure Value of Work Done is re-evaluated based on most current data
  • Interrogate data received from other team members
  • Re-forecast estimate to complete/forecasted final costs and identify any area of concerns such as budget overruns work/delivery slippages etc which may impinge upon other cost areas
  • Ensure forecast expenditure phasing is aligned to current plan and also reflects data received from other discussions held with project team members
  • Carry out weekly cost review meetings to officially liaise with engineers, discussing value of work done and cost forecasts
  • Assist Wells Accounting Team Lead in delivering, maintaining, managing and where necessary improving wells cost framework, procedures and tools Work with invoice checkers to ensure review, verification and correct cost allocation/coding of invoices
  • Liaise with Engineers and offshore personnel on cost related matters, such as progress, milestones and variations
  • Support Wells inventory team with coding, cost and legacy queries where applicable
  • Consult with and advise department and accounting personnel on wells accounting issues
  • Prepare and review well AFE's
  • Prepare and review budgets and forecasts/forecast revisions in advance of submission to Business Partner
  • Ensuring readiness of well reconciliations for presentation to Joint Venture partner
  • Carry out well reconciliation at the end of each well's operation auditors. Also, respond to any queries from auditors or internal audit co-ordinators
  • Follow AFE close out process
  • Involvement in year-end audit process, providing information to external auditors and internal audit co-ordinators
Person Specification

  • Good written and oral communication skills.
  • Ability to interact at all levels
  • Articulates views in comprehensive manner
  • Produces work of presentable quality
  • Ability to adapt to new processes/software
  • Good organisational skills and smart working methods
  • Self-motivated team player with excellent interface skills at all levels.
  • Has good working knowledge of working with Operator Cost Control & Financial Systems.
  • Awareness of Project components such as Project Management, Subsea, Topsides, Drilling, Subsurface and Financial.
  • Extensive working knowledge of Cost Control - Budgets, Allocations, Commitments, Value of Work, Forecasts and Estimated Final Costs.
  • Management of Project provisions - Use of Growth Allowances & Contingency Allowances.
  • Preparation of Project Reporting - Internal & External.
  • Experience of Vendor Management - Interface/Reporting/Milestones
  • Experience of Change Management - Variations.

  • Experience of Microsoft Office is essential and working knowledge of Sun and Maximo.
  • Drilling CTX Cost control system.
  • Graduate in a technical or financial discipline.
This is a long-term contract role

Closing Date - 2nd September
✱   This job post has expired   ✱

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