Problems and proposed solutions for oil and gas projects cost estimation in Russia

Authors: S.V. Chizhikov, E.A. Dubovitskaya, A.D. Pashchenko (Ingenix Group, RF, Moscow)

Key words: evaluation of oil and gas projects construction cost, database of analogues objects, classification of oil and gas facilities, methodology of estimating the cost of construction of oil and gas facilities.

The article discusses the fundamental problem of estimating the cost of construction of oil and gas projects in Russia and solution of these problems based on company experience. Major problems of oil&gas projects costs evaluation are: lack of publicly open costs data, methodological differences, and different classification of construction objects. While working on optimization of cost evaluation process, Ingenix Group has developed its own approach to costs estimation. This approach includes own methodology and construction objects classification together with creating own costs database. Finally, it become a basis for developing cost estimation software Ingenix Cost Manager.

 

Key words: evaluation of oil and gas projects construction cost, database of analogues objects, classification of oil and gas facilities, methodology of estimating the cost of construction of oil and gas facilities.

The article discusses the fundamental problem of estimating the cost of construction of oil and gas projects in Russia and solution of these problems based on company experience. Major problems of oil&gas projects costs evaluation are: lack of publicly open costs data, methodological differences, and different classification of construction objects. While working on optimization of cost evaluation process, Ingenix Group has developed its own approach to costs estimation. This approach includes own methodology and construction objects classification together with creating own costs database. Finally, it become a basis for developing cost estimation software Ingenix Cost Manager.

 



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