Analyst, Asset Control

Posted On: July 1, 2024
Location: Kuala Lumpur
Job Function: Asset Control
Employment Type: Permanent


  • The Analyst, Asset Control reports directly to the Manager, Asset Control 
  • To monitor cost movements by the various Departments and provide support to the stake holders. 
  • Provide support to stake holders on the work process (B2P process) 
  • To ensure cost are reported appropriately.     
  • Provide support for system improvement. 



  • Assists Planning team to coordinate, provide guidance and understand the buildup of the expenditure budget for the designated department, including Work Programme and Budget (WP&B), Business Plan (BP), Latest Estimation (LE) and Authorization for Expenditure (AFE).
  • Participate in the development of the Integrated Asset Plan (IAP); assess the consistency between IAP and budget phasing.
  • Monitor and assess commitments trends, hence identify requirements of budget revisions i.e. additional budget or budget transfer.
  • Monitor, review and consolidate actual expenditures or Value of Work Done (VOWD) against WP&B/BP/LE & AFE in monthly basis.
  • Review Service Entry Sheets (SES) for timely issuance and track invoice and Service Entry Sheet to ensure correct cost code, asset, and field allocation.
  • Ensure all month end closing activities and finance closing are properly compiled timely which includes monthly cash call for partners forecast to Finance and Performance Management and perform correct reclassification of accounts and Work Breakdown Structure (WBS).
  • Manage monthly accruals process. Reconcile and ensure accuracy of the monthly accruals from the data provided by the users.
  • Monitoring accruals & re-accruals ageing to meet the set KPIs setting.
  • Develop variance analysis for actual expenditures against approved WP&B/BP/LE & AFE, as well as variance analysis for period on period monthly reporting.
  • Analyse monthly Internal reports (extraction from SUN) to ensure reasonableness and perform various analyses of expenditures including trending to support operational/ business analyses.
  • Generation of monthly OPEX, Ops CAPEX and CAPEX AFE reports and prepare Journal Entry data for Finance. Generate year-end report submission, actual expenditure versus WP&B
  • Assists Planning team to review monthly cost trends and forecasts, hence reflect in monthly reforecasts.
  • Liaison with Labuan Crude Oil Terminal and Semarang Operator for monthly cash calls/billings/invoices and audit requirements for Kinabalu Oil PSC.
  • Liaison with Angsi Southern Chanel (ASC) operators on billings and for monthly cash calls/billings/invoices and audits requirement for PM305
  • Consolidation of paperwork and closure of AFEs.
  • Work closely with Contract Engineers/Analysts and budget user departments for Contract Close Out and Annual Contract Planning Submission
  • Lead and attend any related audit queries arising from various audits including PSC Audit, Internal Audit, Joint Venture Audits, External Audits and any other audits that may arise for budget user departments.
  • Participate in the settlement of disputes and variation with vendors and suppliers.
  • Maintenance of OPEX Tool /Zero-Based Budgeting (ZBB) input. Ensure all documentation produced is well-kept and auditable.
  • Demonstrate, and work in a manner consistent with, the Hibiscus values of Tenacious, environmentally responsible, People focus, Agile & Trustworthy (TEPAT).



  • Possess a bachelor’s degree in Finance/ Accounting/ Quantity Surveying/ Cost Engineering/ Engineering or related educational background.
  • Possess a diploma in Finance/ Accounting/ Quantity Surveying/ Cost Engineering/ Engineering or related educational background.
  • A recognized professional certificate is advantageous.     
  • Minimum 5 years (Degree) working experience as cost controller in Oil & Gas upstream Operations     or minimum 7 years (Diploma) of combined experience in Finance & Accountancy, Quantity Surveyor and Cost control type background in Oil & Gas upstream Operations.
  • Experience in managing and administrating capital budgets and expenditures for offshore oil and gas capital development projects, inclusive of monitoring and forecasting progress and performance of multiple major contractors.
  • Experience in preparation of annual budget, Work Program & Budget (WP&B), Business Plan budget (BP), Latest Estimation (LE), generation of AFE and Additional Budget Request (ABR), handling of queries from JV Partners, PETRONAS and Auditors.
  • Understand OPEX & CAPEX cost breakdown structure and planning activities. 
  • Excellent communication and presentation skills including oral and written reporting and organization management.
  • Excellent computer skills with modern day PC applications packages which includes PowerPoint, advanced analytical EXCEL skills Power BI & familiar with Maximo system.
  • A team player and able to work independently, multitask and meet tight deadlines.


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