Senior Drilling Cost Analyst

Our client, an Operator based in Aberdeenshire, is recruiting for a Senior Drilling Cost Analyst on a long-term contract basis.

The Senior Drilling Cost Analyst provides estimating, Budgeting, cost control and high level planning support functions to the Company, ensuring that appropriate decisions are taken with full knowledge of budget and cost impact. The value to the Company of this position is in the development and monitoring of Budgets, analysis of actual spend, forecasting of future spend and the ability to challenge costs at every stage. These points are fundamental and essential in enabling the Company to accurately plan and budget for the future.


Key Responsibilities

  • Assisting in the preparation of Drilling & Wells budgets including departmental forecasts.
  • Cost reporting and analysis.
  • Providing financial information and support to management decision making
  • Well Reconciliations
  • Assist in wider area Finance support of the Technical Services department

Budget & Forecast

  • Develop and maintain the respective Corporate Budgets and Forecasts and take responsibility for the content and cost reporting of this data.
  • Ensure that data meets with Company and Joint Venture requirements and adheres to the relevant timetable/deadlines
  • Liaise between the Asset Cost Performance teams to ensure consistent workscopes and budget scenario


  • Develop and maintain reports in SAP to monitor expenditure against Budgets, Forecasts, Commitments and AFEs as appropriate.
  • Conduct monthly reviews of the Cost Control data with Budget Holder and update as appropriate in-line with significant activity changes in the monthly corporate planning.
  • Consolidate the Forecast information for the respective area and feedback on any changes to Forecast along with commentary
  • Produce and review monthly with Budget Holders to agree the Forecast and confirm variance commentary is correct
  • Produce an appropriate level view of Organisation forecasted costs and monitor on a monthly basis
  • Compile further cost reporting on respective area to Management, Finance and JV Partners. Ensure appropriate commentary and advice is given.


  • Identify and plan actions required with Budget Holders on areas of spend to be challenged
  • Work closely with Management in the evaluation of technical/commercial aspects of commitment proposals, giving appropriate advice on performance factors in order to assist management in the selection and award of contracts
  • Provide summarised and detailed cost estimates from scopes for discussion/approval by management/proponent for inclusion into AFEs and Budgets
  • Highlight overall trend of costs and gap analysis
  • Assist Contract Compliance Group in ensuring effective and efficient invoice administration

Working Relationships

  • Work proactively with peers within the department to ensure that data sent from the department is validated, timely and approved by the relevant personnel and in turn that data used from external departments is approved by the relevant authority in those areas
  • Participate in external and internal Audits as required
  • Provide support in each of the areas within Cost Control as required

SOX & Internal Control

  • Ensure that all Internal control and SOX procedures are fully complied with

Education, Qualifications & Experience

  • Degree holder and/or qualified accountant (CIMA) (preferred)
  • Experience gained in the oil industry in a business and commercial or finance environment
  • Good understanding of the technical operations of drilling activities within the oil and gas industry
  • Excellent analytical skills and a sound knowledge of financial analysis techniques and economic measures
  • Experience of budget preparation, cost control and planning within a large organisation
  • Knowledge of Accounting and Reporting standards
  • Computer literate with experience of various applications (primarily SAP, Excel and Powerpoint)