Feasibility and concept engineering studies

Our Feasibility and Concept Engineering studies support clients in identifying the technical and economic viability of a development. By applying our proven methodologies and tools, we can ensure clients are provided with a robust concept screening and selection outcome. 

 

Helping you deal with all issues

Our background in oil and gas means we understand the need for a method of selecting preferred options for Field Development. This of course means dealing with the many unknowns and issues that can arise in project development, like:

  • numerous concepts to assess
  • minimum information is available
  • values and attributes besides cost are to be considered
  • cost data is not available
  • CAPEX (capital expenditure) comparison between options is required
  • buy-in and inclusion of all stakeholders is required

With so many complicating factors to be resolved, established tools can often be limited in their ability to provide answers and options. We think the solution to dealing with these issues lies outside conventional thinking models and we think we’ve found it.

 

We call our solution POISE (Petrofac Options Inception Screening Evaluation)

How POISE helps our clients

We begin the process with a feasibility screening study using our in-house developed software tool known as POISE.

POISE supports conceptual screening workshops that rapidly identify suitable options for greater engineering definition and economic evaluation. We then refine the options through the Concept Engineering Study. This typically results in recommending a single concept to further develop during the front end engineering and design (FEED) phase, or, alternatively, to take straight through to detailed design.

The Concept study takes account of Petrofac’s extensive engineering, procurement and construction (EPC) and Operation Management experience. It’s also supported by a cost estimating function that reflects the latest data from our worldwide procurement capability. This means estimates can be fully benchmarked in terms of execution risk and costs in addition to actual procurement data. Through the integration of knowledge, experience, methodology and tools, we can offer valuable support and guidance to our clients in their key investment decisions.

Another key feature of POISE is in the use of imported, scaled GPS maps of the development area, enabling automatic pipeline length calculation and CAPEX differences between options’ pipelines.

Our expertise spans the oil and gas life cycle including both brownfield and greenfield developments. We have considerable experience solving technical and commercial problems (from reservoirs and well heads to refining, storage and sale) in multiple mature and emerging oil and gas producing regions spanning, onshore and offshore exploration and production assets, fixed and floating installations, mobile production units, subsea systems and new energy infrastructure including offshore wind, biogas and carbon capture and storage. 

Why Petrofac is different

We recognise that our clients’ business drivers and ambitions are unique for every project.  We have the unique tools, approach and experience so that clients can be confident that our recommended outcome will match their business needs.

 

Further information

Concept Capability
Cost Estimating and Planning
FEED Development Capability
Integrated Field Development Planning
Project Definition Capability

Matt Norman
Tel: +44 1483 738891
Email: matt.norman@petrofac.com

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