Capital E&P projects usually involve large capital outlays, but funds are limited, so due consideration must be given to appropriate funds allocation. Choices will usually be based on profitability of which the estimated cost is a key driver. Therefore, cost estimates must realistically forecast all actual Capital Costs (CAPEX) and Operating Costs (OPEX) from early development until Ready for Start Up (RFSU). Decision makers must be made fully aware of any inherent estimate limitations before project sanction at the end of FEL3 Phase.
By applying NAPTA’s Project Services Guides while framing an upstream opportunity and then delivering the project we together with our clients will ensure greater uniformity and increased co-operation. Using consistent processes, common terms, standard tools, and the continuous improvement cycle will result in time and effort savings and improved cost estimate quality.
For more information please contact NAPTA International B.V.
