5 days PL/COSTGB
- This certification is aimed at professionals requiring a comprehensive understanding of the various elements needed for estimating expenditures of an upstream project. Ideal participants include project engineers and managers, petroleum architects, engineers in charge of the modification/extension of existing facilities and R&D engineers.
- This certification provides a structured and comprehensive approach towards project cost estimation and control.
- Upon completion of the course, participants will be able to:
- technically define a project to provide a comprehensive cost estimate,
- perform estimates using a variety of methods and tools,
- apply the main cost control techniques used throughout the project execution.
- Project engineers and managers, petroleum architects, engineers in charge of the modification/extension of existing facilities and R&D engineers.
Ways and means
- Case studies from upstream projects.
- Netbooks with spreadsheets will be used to perform project estimates from basic design parameters.
Duration including competencies assessment duration.
COST ESTIMATION CONTEXT 0.5 day
- Introduction to exploration and production projects
- Oil & gas projects. Asset phases. Evaluation process. Economic studies. Contracting strategy. Project execution phases
- Technical fundamentals
- Production facilities. Structures and pipelines
PROJECT COST ESTIMATION 1.5 days
- Estimation framework
- Scope and exclusions. Cost management process. Estimate classes. Capital expenditures. Operating expenditures
- Software available on the market
- Cost evaluation during project evaluation phases
- Order of magnitude estimate. Factored/modular estimate
- Cost evaluation during basic engineering and contracting phases
- Semi detailed estimate. Detailed estimate
- From historical data to present time cost evaluation
- Cost escalation, cost indexes, inflation. Location factors
- Additional cost elements
- Risks and uncertainties. Provisions. Particularities of cost estimation of brownfield projects
COST ESTIMATING CASE STUDIES 1.5 days
- CAPEX of an onshore project
- Cost estimate of well clusters, CPF, flow lines, trunk lines and infrastructures using diverse documents (historical data, curves, etc.)
- CAPEX of an offshore project
- Cost estimate of a satellite field development
- CAPEX of a deep offshore project
- Cost estimate of the three main packages (FPSO, UFR and SPS)
- OPEX of an onshore field
- Production, transformation and transport costs. Routine and non-routine costs
COST CONTROL 1.5 days
- Overview of cost control process
- Impact of contracting strategy
- Breakdown structures and budget
- Commitment process
- Change management
- Forecasts and reporting