Wells Cost Engineer

Job Description

If interested, please email with your cover letter and CV.

Location:

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:

Permanent

Reporting Line:

The Wells Cost Engineer will report directly to the Project Director.

Role:

The Wells Cost Engineer will deliver robust and consistent cost management for well decommissioning projects. The role spans cost estimate development, budgeting, detailed cost tracking, forecasting, change control, trending analysis, reporting, and project closeout. Requires close collaboration with internal teams and contractor counterparts to ensure financial governance and transparency.

Key responsibilities: The Wells Cost Engineer will be required to:

• Develop and maintain cost management frameworks, procedures, and tools for wells projects.
• Prepare detailed cost estimates across the project lifecycle, including probabilistic risk analysis and contingency planning.
• Compile project and annual budgets, prepare AFEs and financial approvals.
• Track commitments, VOWD, accruals, and forecast costs, ensure accurate coding of requisitions and invoices.
• Collaborate with Wells Engineers, Project Controls, and Finance to ensure integrated cost reporting.
• Support procurement and contracting teams with cost analysis for tenders and vendor proposals.
• Maintain cost breakdown structures aligned with OEUK Well Decommissioning Guidelines and internal governance.
• Provide accurate monthly cost reports and input into wider business reporting cycles.
• Support project change control by assessing scope changes, cost impacts, and managing allowances.
• Analyse contractor cost reports, validate data, and challenge discrepancies where necessary.
• Interface with and build strong working relationships with internal Company departments and counterparts in Client and Contractor organisations.
• Monitor cost trends and provide early warnings to project management.
• Maintain cost management systems and audit trails, participate in audits and assurance reviews.
• Contribute to lessons learned and benchmarking for future campaigns.
• Actively support HSEQ strategy and participate in project reviews.

Key outcomes:

• Financial Integrity: Project costs remain within approved budgets and AFEs, with clear visibility of variances and corrective actions implemented promptly.
• Reliable Forecasting: Cost forecasts and cash flow projections consistently reflect actual performance and anticipated trends, enabling informed decision-making.
• Governance Assurance: All cost data and reporting meet internal and client governance standards, with complete audit trails available for review.
• Risk-Informed Decisions: Cost-related risks and trends identified early, supporting proactive management of contingencies and allowances.
• Stakeholder Confidence: Timely, accurate, and transparent cost reporting builds trust with internal teams, contractors, and joint venture partners.
• Continuous Improvement: Lessons learned from cost performance and contractor benchmarking applied to enhance future estimating and control processes.

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:

• Minimum of 5 / 10 years’ experience in the upstream energy industry in a major project cost engineer role
• Proven experience in cost engineering within wells or drilling operations.
• Strong understanding of well P&A cost drivers and offshore operations.
• Proficiency in cost management tools and ERP systems.
• Knowledge of OEUK guidelines and UKCS regulatory environment.
• Excellent analytical and communication skills.
• Team player with ability to build strong working relationships between the various Project Teams, Company Business Groups and 3rd party contractors
• Proactive, delivery focused, can operate in a high paced environment and is adaptable to working in a transformative organisation