Cost Engineer – Reading

Cost Engineer - Reading Location: Reading, UK Contract: 12-Month Contract Working Pattern: 5 Days per Week Rate: Hourly Rate Contract We are supporting a major petrochemical development project and are looking for an experienced Cost Engineer to join the Project Controls team based in Reading. This is an excellent opportunity to support the delivery of a large-scale capital project, providing cost management expertise throughout project execution. Working closely with the Project Manager and wider project team, you will play a key role in ensuring project costs are effectively controlled, forecast, and reported, enabling successful delivery against budget and schedule. This role would suit candidates with experience working on large-scale petrochemical, refining, or downstream oil & gas projects, particularly within a PMC/PMT environment. The Role As Cost Engineer, you will be responsible for monitoring project costs, preparing forecasts, supporting change management, and providing accurate financial reporting across the project lifecycle. You will work closely with project management, commercial, procurement, and finance teams to ensure cost performance is accurately tracked and communicated while supporting informed decision-making throughout project execution. Key Responsibilities Develop and maintain project cost reports, forecasts, cash flow forecasts, and contingency analyses Prepare cost estimates and support budget development activities Monitor project expenditure against approved budgets and forecasts Analyse cost and schedule performance, identifying variances and recommending corrective actions Manage change orders and assess the cost impact of scope changes Review contractor progress payment applications for engineering, procurement, and construction activities Produce accurate weekly and monthly cost reports for project stakeholders Support project forecasting through trend analysis and financial modelling Process Service Entry Sheets, Purchase Orders, and WBS updates within SAP Monitor controllable project costs and provide financial performance analysis Support additional cost studies and scenario analysis as required Liaise with project controls, commercial, and finance teams to ensure accurate reporting and cost alignment Candidate Profile Degree qualified in Engineering, Quantity Surveying, Finance, or a related discipline 5–10 years' experience in project cost management within the petrochemical, refining, downstream oil & gas, or major industrial sectors Experience supporting major Middle East capital projects is highly desirable Previous PMC/PMT experience is preferred Experience working on major capital or mega projects Strong understanding of cost forecasting, budgeting, change management, and financial reporting Experience using SAP and advanced Microsoft Excel Strong analytical and problem-solving skills Excellent communication and stakeholder management abilities Fluent in English