Senior Cost Engineer (Well Engineering) at LEKOIL Nigeria Limited

, Lagos State, Nigeria -

Full Time

Start Date

Immediate

Expiry Date

14 Aug, 26

Salary

0.0

Posted On

16 May, 26

Experience

10 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Cost Engineering, Well Engineering, Budgeting and Forecasting, Cost Control, AFE Preparation, VOWD Tracking, Joint Venture Coordination, Variance Analysis, Contractor Management, Financial Reporting, Earned Value Management, Trend Analysis, Microsoft Excel, PowerBI, Upstream Project Management, Cost Allocation

Industry

Oil and Gas

Description

Location: Primary location: Victoria Island, Lagos Secondary location: Onshore & Offshore Field Location in Rivers State, Lagos & Akwa Ibom Job Status: Contract (One-year Renewable) Purpose & Key Objectives: The Senior Cost Engineer (Well Engineering) will provide meaningful expert cost engineering support across Lekoil's onshore and offshore exploration, appraisal and production assets, with a primary focus on Well Engineering projects. The job holder will be responsible for establishing and maintaining robust cost control, budgeting, forecasting, and reporting frameworks across the project portfolio, ensuring accurate and timely financial information is available to project stakeholders, joint venture partners, and the Board. This role will partner closely with Finance and the Technical teams to drive cost discipline, improve performance visibility, and support the company's commercial objectives. Principal Accountabilities: Cost Control and Reporting Work with asset leads to establish, standardise, and maintain project cost control frameworks for both onshore and offshore drilling programmes, aligned with company Project Management Systems. Compile, verify, and report monthly budget, commitment, Value of Work Done (VOWD), and Anticipated Final Cost (AFC) figures, including variance analysis and management narrative. Maintain accurate cost allocation across different ventures and assets, including JV cost-sharing structures, based on technical inputs and agreed commercial terms. Monitor and challenge contractor progress and VOWD reports using deliverable registers, CTRs, progress reports, and other available information. Develop and maintain project-specific Cost Control Procedures and tools within the company's Project Management framework. Budgeting and Forecasting Prepare detailed cost estimates, AFEs (Authorities for Expenditure), and budget submissions for drilling campaigns and associated capital projects. Develop and maintain project-specific funding and budgeting information, including shareholder-level breakdowns, and coordinate approvals through required governance channels. Prepare cost forecasts in support of funding requests, counter-estimates, change order evaluations, and trend analysis. Develop owner's cost analysis and projections to ensure completeness of cost management and to support management reporting. JV and Commercial Coordination Coordinate with Finance, Supply Chain Management, Commercial, and Legal teams on the drafting and completion of Cost Sharing Agreements and relevant JV cost recharge frameworks. Liaise with JV partner cost representatives to align on cost reporting, cash calls, funding updates, and audit requirements. Provide all necessary project financial information to Finance and shareholder representatives in a timely and accurate manner, including cash calls and funding updates. Contractor and Compliance Management Work with the contract holder to ensure contractor monitoring and reporting processes comply with company policies and procedures, enabling accurate cost tracking and forecasting. Review, verify, and challenge contractor invoices, change orders, and claims in coordination with the Technical teams and Commercial function. Support the audit and assurance process for project costs, including JV audits and internal controls reviews. Stakeholder Engagement Work with the accountant to present cost performance reporting to project stakeholders, senior management, and JV partners in a clear and structured manner. Provide ad hoc cost analysis and decision support to the Technical and Finance teams as required. Contribute to the continuous improvement of cost engineering processes, tools, and reporting standards across the business. Job Requirements: Qualifications Bachelor's degree in Engineering, Quantity Surveying, or a related technical or commercial discipline. Professional certification in cost engineering strongly preferred — AACE International (CCP, CEP, or equivalent), RICS, or APM. Additional finance or project management qualifications (e.g. PMI, PRINCE2) are an advantage. Experience Minimum 8 to 12 years of practical Well Engineering Experience involving well planning, budgeting, cost and AFE preparation in an operating environment. Proven track record of managing cost control and reporting on well programmes, including AFE preparation, VOWD tracking, and AFC management. Experience with industry cost preparation and monitoring software. cost engineering experience in the oil and gas sector, with demonstrable exposure to both onshore and offshore drilling environments. Direct experience working within joint venture structures, including JV (and PSC) cost reporting, cost sharing, cash calls, and partner audits. Experience working with international oil companies (IOCs), independents, or NOC-driven environments is an advantage. Familiarity with Nigerian upstream regulatory and commercial frameworks is desirable but not essential. Knowledge, Skills and Competencies Strong technical knowledge of upstream project cost control methodologies, including earned value management, trend analysis, and contingency management. Proficiency in cost management tools and systems — specific platforms to be confirmed; experience with industry-standard cost systems (e.g. SUN, Oracle, Prism, EcoSys, or similar) expected. Advanced proficiency in Microsoft Excel; experience with PowerBI or equivalent reporting tools is an advantage. Solid understanding of drilling operations, well construction cost drivers, and associated service contracts. Strong analytical and numerical skills with high attention to detail and commitment to data accuracy. Excellent interpersonal and communication skills, with the ability to engage credibly with technical, commercial, and finance audiences. Ability to manage multiple workstreams concurrently and deliver to tight reporting deadlines. Sound judgement and the ability to identify, escalate, and resolve cost issues in a timely manner. Personal Attributes Proactive and self-motivated; takes initiative without requiring close supervision. Collaborative team player who builds strong working relationships across disciplines. Detail-oriented with a structured and methodical approach to problem-solving. Resilient and adaptable in a dynamic, fast-paced upstream environment. High integrity with a commitment to accurate and transparent reporting. Willingness to travel to onshore and offshore field locations as required.

Responsibilities

Establish and maintain robust cost control, budgeting, and reporting frameworks for onshore and offshore well engineering projects. Partner with Finance and Technical teams to manage AFEs, track project expenditures, and coordinate financial reporting for joint venture partners.