- Exploration and production
- Oil and Gas Services
- Oil sands
- Post-secondary degree
About This Career
Projects often run into the multimillions or multibillions of dollars, so your attention to detail and economics focus serve a key role. Your job is to provide cost estimates and ensure there are cost controls for facility construction, production and services. In short, you make sure the company you work for is either getting the best financial return for its service or product, or getting the biggest bang for the buck.
Cost Engineers provide cost estimates and ensure there are cost controls in place for oil and gas facility construction, production and services. They also aid management in bidding or determining the price of a product or service and provide on-going analysis to ensure costs and schedules are on target.
When you start in this occupation activities may include:
- Participating in the development of project execution plans
- Working with engineers, architects, owners, contractors and subcontractors on changes or adjustments to cost estimates
- Preparing estimates used by management for planning, organizing and scheduling work
- Preparing estimates for use in selecting vendors or subcontractors
As you advance in this career, you may take on additional tasks including:
- Performing quality assurance on the contractor's cost management system
- Consulting with clients, vendors and personnel in other departments to resolve issues
- Establishing and maintaining the tendering process, and conducting negotiations
- Resolving issues related to project cost control procedures
- A post-secondary degree in engineering from an accredited institution and knowledge from within the electrical, mechanical or civil engineering field is required. Other credentials may be acceptable, such as a post-secondary degree in science, technology, mathematics or construction management. This role typically requires extensive experience and exposure to a variety of large capital projects.
- Specific health and safety certifications will be determined by job requirements
- Planning and Scheduling Professional (PSP)
- Certified Estimating Professional (CEP)
- Project Management Professional (PMP)
- Professional Quantity Surveyor (PQS)
- Certified Cost Consultant (CCC)
- To obtain a license as a professional engineer (P.Eng) you must obtain a degree from an accredited engineering program, pass a professional practice exam and have three or four years of engineering experience, of which one year must be gained in Canada. You must also have Canadian citizenship or proof of permanent residency in Canada.
- Once licensed, engineers receive a seal to stamp their designs and drawings.
- Unlicensed engineers must work under the supervision of a P. Eng.
Your organizational skills are critical. You can explain complex financial matters in ways that are easily understood by others. This helps you in negotiations and conflict resolution.
- Critical thinking
- Managing financial resources
- Administration and management
- Judgement and decision making
- Attention to detail
- Economics and accounting
- Complex problem solving
- Engineering and technology
- Law and government
- Negotiating with others
- Professional, scientific and technical services
Related Careers in Oil & Gas
Also known as
- Project Control Specialist
- Cost Analyst
- Cost Estimator
- Construction Engineer
- Project Engineer
- Project Coordinator
Cost Engineer SpotlightPosted
Cost Engineers keep the costs of a project under control through ongoing communication, research and organization. They are skilled at negotiation and...Continue reading