The largest oil and natural gas producer in the EU, the United Kingdom retains proven crude oil reserves of around 4 billion barrels and proven natural gas reserves of some 18.8 Tcf as of 2006. Containing the bulk of domestic reserves and an extensive network of subsea pipelines and infrastructure, the UK Continental Shelf (UKCS) is the most active offshore region for the UK's oil and gas sector, and industry giants Shell, ExxonMobil, Chevron and Total all explore and produce there. The third largest global energy company and headquartered in the UK, BP is operator of such major offshore UK producers as the Foinaven and Forties fields.
Cost Engineering is the management of project cost and includes cost control, estimating, forecasting and budgeting. Cost engineers apply scientific principles and techniques to budget and plan for investment projects and monitor costs throughout the project lifecycle. A cost engineer will work to get the best balance between cost to the client, quality and timely completion of the project.