Senior Specialist, Budget & Cost Control

Petroleum Development Oman (PDO)

To lead, coordinate, and execute all Budget & Cost Control activities for Upstream Operated Assets within the Planning & Performance function. The role ensures proactive planning, development, control, and forecasting of budgets and expenditures, acting as the single point of accountability for financial performance of operated assets. Responsibilities include overseeing budget procedures, reconciling approved budgets, tracking commitments and expenditures, identifying deviations, and driving timely corrective actions to ensure optimal use of funds with minimal variance.

The position will act in accordance with the OQEP s Mission, Vision, Values & Strategies, as well as, policies, guidelines, and international standards, supported by an IT Technology platform, HSE standards, Omani s government & other legal justifications, and best international practices in consonance with national objectives.

Main tasks and responsibilities

Budget:

• Oversee budget processes for Upstream Operated Assets, identifying improvement opportunities based on best practices.
• Lead the preparation and consolidation of annual budgets (CAPEX & OPEX) for operated upstream assets.
• Coordinate with technical, operational, and functional teams to gather inputs aligned with corporate strategy and business plans.
• Act as the single point of accountability for the budget of assigned operated assets.
• Monitor budget performance and ensure operational spending remains within approved limits.
• Lead mid-year and quarterly reforecasting exercises, updating budgets based on actuals and revised operational assumptions.
• Provide realistic year-end outlooks and financial scenarios to support management decisions.
• Analyze budget vs. actuals, highlighting significant deviations and underlying causes.
• Support the financial close process by ensuring budgetary impacts are well-accounted for and reconciled.
• Assist the team leader in improving processes and procedures within the department.
• Maintain and update budget data in SAP.

Cost:

• Support in gather and analyse of data to Generate the monthly Value of Work Done (VoWD).
• Monitor actual expenditures against approved budgets, flagging variances and investigating root causes.
• Track monthly accrued cost and follow up closely with functions to actualize it.
• Ensure effective cost tracking by WBS, cost centers, projects, and activities.
• Prepare monthly, quarterly, and annual cost forecasts/ outlook in coordination with operations and finance.
• Update forecasts based on actual performance, changes in scope, and market dynamics.
• Ensure the collected data from the team, is well analysed in term of cost information for the development of the Business Plan.
• Support cost reviews with partners, auditors, and MEM stakeholders as required.
• Support Engineers in providing data to monitor and maintaining gross wells cost model with internal and external data.
• Ensure cost data is accurately maintained in SAP and reporting tools.