Job Title: Cost Engineer

Closing Date: 01 March 2024

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Well-Safe Solutions, Aberdeen, though there may be a requirement to visit and work at other company locations or supplier’s premises as required.

The postholder must be able to attend our global headquarters in Aberdeen.

Job Type:


Reporting Line:

The Cost Engineer will report directly to the Project Accountant.


As the business continues to grow, we are looking for an individual who has experience as a Cost Accountant / Engineer.

The Cost Engineer role is responsible for recording, monitoring, and reporting the correct costs to projects. The role also provides support to the projects department in raising Variation Orders and providing daily and weekly cost reports to clients. The role will also involve monthly reporting on each project, including variance analyses, estimate to complete forecasting and narrative of a project’s performance to date and to completion.

The role requires a highly analytical, accurate individual who works well in teams and in a high-pressured environment. The role is cross-functional and therefore requires an individual who can build and maintain effective relationships.

Key responsibilities:
The Cost Engineer will be required to:
  • form a close working relationship with the Project Accounting Lead, Financial Controller, Project Manager, and the finance team
  • record daily costs using the project system
  • approve vendor CTR’s (cost, time, resource)
  • check and approve vendor invoices
  • support suppliers on any queries
  • ensure all financial transactions are properly recorded and reporting is reliable and accurate
  • monitor client purchase orders and track costs against these
  • create client Variation Orders for projects
  • prepare daily, weekly and monthly estimated cost reports for the ongoing projects
  • on award of new projects create the monthly project cost report structure which include actual and estimated costs to date as well as projections to completion, including variances against budget
  • perform month-end accounting activities such as producing project cost reports, ensuring all costs are recorded correctly and performing any project close out routines as required
  • produce end of well cost reports and provide narrative to variances between reports
  • to provide analyses of the performance of projects over the project life
  • facilitate timely and accurate progress billing to customers in conjunction with the finance and project teams
  • support continuous improvement of internal control and standard operating procedures.
  • support the ongoing management of the ERP system and any project related system(s)
  • to support the tendering process as and when required
  • establish a high level of credibility and manage strong working relationships with internal and external parties
  • perform other duties, complete additional tasks and support ad hoc projects as required
Key outcomes:
  • to ensure all project costs are recorded and are monitored and managed to a high degree of accuracy and all project reporting is completed in a timely manner
  • to ensure that financial and project systems are effective, robust, and compliant
  • to ensure that internal policies and procedures are maintained and effective
  • to ensure that there is effective, accurate and timely reporting to the finance, projects, and technical teams with timely billing of invoices
  • to perform month end activities in a timely manner
  • that the assets of the company are protected and safeguarded
  • to build and maintain effective relationships internally and with key business partners, including 3rd party suppliers
  • regular and accurate reporting to the Financial Controller and Project Manager
Limits of authority:

Full responsibility for all operational activities within the philosophies and constraints laid out in the job description.

The company reserves the right to amend or change the activities listed, taking into account the job holder’s qualifications and experience to enable the business needs to be met.

Knowledge & Competency:


  • 3+ years’ experience in a similar role within the Oil & Gas industry either with a rig contractor or operator
  • experience in supporting and developing ERP and operational systems
  • high integrity and openness combined with commitment to good governance
  • organised, diligent, and dynamic, with the ability to manage multiple (and conflicting) workstreams to ensure successful delivery of our objectives.
  • excellent communications skills with colleagues as well as external stakeholders (ability to engage at all levels)
  • team player and relationship builder
  • ability to handle high levels of pressure and critical decision-making
  • proficient use of ERP systems, Office 365 and advanced Excel skills
  • excellent verbal and written communications skills
  • excellent analytical and reasoning skills, plus excellent organisational skills


  • degree in finance / business studies or similar
  • experience of Microsoft Business Central