| OVERVIEW OF E&P PROJECTS • Introduction to exploration and production projects: • Economics and risk analysis in the E&P chain. • Decision process from discovery to production. • Technical fundamentals: • Production facilities. • Structures and pipelines. PROJECT COST ESTIMATION • Estimation framework: • Scope and exclusions. Cost management process. Estimate classes. Capital expenditures. Operating expenses. • 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. CASE STUDIES ON COST ESTIMATION • 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 • Overview of cost control process. • Impact of contracting strategy. • Breakdown structures and budget. • Commitment process. • Change management. • Forecasts and reporting. |