Senior Specialist, Budget

Job title

Sr. Specialist, Budget & Cost Control

Grade

Stream

Operated Assets

Function

Operated Assets - Subsurface & Operation 60&48 - Growth & Planning

Location

Oman - Muscat

Budget control

*OPEX and/or CAPEX and/or Revenue amount as relevant*

Reporting to

Manager, Budget & Cost Control

Direct reports

-

Job purpose

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.

Key interactions

Internal: OQEP Business Units

External: Contractors, Vendors & Suppliers

Notable Working Conditions. Field Operations and office environment, Moderate to intensive computer screen use.

Education requirements

• Bachelor's Degree in relevant field.

Language requirements 

Excellent knowledge of written, read, and spoken English (required) | Arabic - Native (desirable)

Background and experience

Competencies and skills

• 6+ relevant years of experience specialized in finance.
• Proven experience and expertise in developing, preparing and monitoring complex budgets, forecasting and income/expenditure management

Soft:

• Ability to build and maintain good relations with various parties, through listening and support
• Ability to analyze situations, solve problems and process information logically and systematically
• Ability to rethink and improve current practices, generate ideas and find new solutions and implement the ideas
• Ability to set and prioritize goals, use resources and ensure timetables are established for implementing various activities Highly-developed communication skills, including the ability to interact with and gain commitment from a diverse range of stakeholders
• Excellent organizational skills, including the ability to set priorities, manage time, plan work to meet deadlines and work effectively under pressure
• Ability to meet tight deadlines and able to work under pressure

Technical:

• Working knowledge of SAP and advanced MS Office applications skills.
• Possess demonstrated relevant knowledge, experience and expertise in providing quality finance, accounting and budgetary services
• Demonstrated understanding and expertise in financial management including the development, review and enhancement of relevant policies, procedures, professional standards and relevant legislative requirements
• Proficiency in using financial accounting software, the Microsoft Office suite of applications, utilization of web technology and experience in the use of computer based records systems/databases.