Antium Costing Methodology

Field development cost, risk and economics optimisation

antium
business risk solutions

Achieving a reliable, auditable and timely estimate of oilfield development cost, risk and economics is a daunting task.

Multiple concepts, options, technologies and layouts can lead to a potential 'combinatorial explosion' of information.

A multidisciplinary team, working against tight deadlines, on fast evolving designs, runs the risk of misdirected effort, information overload and uncertainty.

Integrating data from diverse disciplines, each with its own culture, into a consistent body of decision support data is a real challenge.

The challenges are addressed by the antium methodology.

The methodology enables an integrated project team to arrive at an optimum field development plan, taking into consideration cost, risk and economics.

The client team benefits from clear, timely, decision-support information on which to base economic assessments.

Managers of pre-sanction projects have the metrics needed to monitor progress, direct effort and manage uncertainty.

The project team remains confident that the body of underlying project data is consistent, well ordered, transparent and fully auditable.

Features:

· Rigorous costing methodology

· Team-working framework for multi-disciplinary teams of engineers and specialists.

· Advanced information techniques for data collection, analysis and reporting.

Benefits:

· Reliable, auditable and timely decision support information.

· Optimisation of field concept, layout, configuration and phasing.

· Risk assessment and opportunity identification

· Understanding of field development economics

· Reduced time and effort to perform pre-sanction projects.

Multi dimensional reporting.
Report cost, risk and economics by any classification, e.g. cost category, package, phase, service, etc.

Cost evolution and audit trail
Track changes to cost model. Record source of all data.

Geographic information systems
GIS integrates all project data, provides an environment for engineers to define layouts, and performs rapid re-measure as various cases are explored.

Phasing
Cost and revenue phasing for economics assessment (NPV) and for cash flow planning

Vessel scheduling and utilisation
Ensures a consistent set of vessels is used for all activities. Highlights potential clashes and standing time.

Component cost model
A standard form of key importance to methodology. Enables discipline engineers to make a concise, unambiguous statement of through-life cost implication of major field components (e.g. pipeline or facility) in a discipline-neutral format.

Rigor of database system
Cost, component, measure and development case data all held in structured data tables.

Integrated approach to field development
All discipline data, from drilling to onshore facilities, seamlessly integrated

Revenue phasing
Phasing of well production allows development revenue to be modeled (for NPV).

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