que$tor offshore training nov 2009
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QUE$TORQUE$TORPremier OilJames BlanchardJames BlanchardNovember 18th and 19th 2009
James.blanchard@ihs.comenergy.ihs.comsupport_questor@ihs.com
Contents
1 I t d ti1. Introductions
2. Cost estimation methodology and setting up a QUE$TOR gy g p $project
3 Capital cost component overviews the operating and capital3. Capital cost component overviews, the operating and capital cost reports
4. Modifying QUE$TOR projects using the project editor and viewer
5. Accessing, reviewing and modifying cost and technical databases
Copyright © 2009 IHS Inc. All Rights Reserved.
6. QUE$TOR future developments and wrap-up2
IHS Asia Pacific ENERGY teamMarina MarroncelliMarina MarroncelliRegional Director, Business Developmentmarina.marroncelli@ihs.com
Cahir O’NeillCahir O NeillAccount Manager, Korea and Indonesiacahir.o’neill@ihs.com
Eil N M S i t K d Fl LiEileen Ng, May Saint Kang and Flora LimSales & Marketing Administration Eileen.ng@ihs.com, may.kang@ihs.com, flora.lim@ihs.com
S kh t Si h R dhSukhwant Singh RandhawaCustomer Support Specialist, MalaysiaSukhwant.SinghRandhawa@ihs.com
Yaxing Wang Technical Support Special, Chinayaxing.wang@ihs.com
Copyright © 2009 IHS Inc. All Rights Reserved.
James BlanchardRegional Support Managerjames.blanchard@ihs.com
3
support_questor@ihs.comsupport_international@ihs.com
Breaking the Ice
Wh W ?• Who are We?• Name and Area of Interest/Work
• What do we expect to achieve?• Ideas/process learning and/or confirmation
• How current work/interest could benefit from this Workshop?• Issues/Decisions that could be facilitated• Issues/Decisions that could be facilitated
Copyright © 2009 IHS Inc. All Rights Reserved. 4
IHS IntroductionIHS IntroductionThe source for critical information and insight
5
Who are we?
Th l di id f iti l t h i l i f ti d i i• The leading provider of critical technical information, decision support tools and related services
• Supporting 6 core industries, with expertise in many otherspp g , p y• Provide services to governments, multi national corporations, small
companies and technical professionals• In over 100 countries• In over 100 countries • Over 75,000 customers worldwide
• Maintain comprehensive set of databases, with both proprietary and gathered information, obtained through relationships with content providers worldwideHelps to facilitate decision making support key processes and• Helps to facilitate decision making, support key processes, and improve productivity
• History of serving customers for over 75 years
Copyright © 2009 IHS Inc. All Rights Reserved.
History of serving customers for over 75 years
6
IHS information domains
ENVIRONMENT ENERGYPRODUCT LIFECYCLE
SECURITY
Specialist in the field of
defense, security,
transport & law enforcement:
Provides information,
decision support tools &
related services to energy
Addresses concerns
related to environmental &
sustainability issues:
Provides technical
standards, codes,
government/military p
• Security Editorial
• Security Research
• Security Consulting
gy
industry:
• Research & Consulting
• Energy Editorial
• Hazardous & material
waste management
• Supply chain greening,
specifications &related
documentation:
• Specifications and
Copyright © 2009 IHS Inc. All Rights Reserved. 7
• Lloyd’s Register Fairplay (50%)
• Geologic & Exploration
Data Services
MSDS & chemical
management (dolphin)
Standards information
• Parts Databases
Energy overview: Generic O&G company investment workflow
Leading global provider of CORPORATE g g pcritical information, decision support tools and related services in the energy industry
SMART DATA COLLECTION FIND
OPPORTUNITIES
CORPORATE OBJECTIVES
Worlds most comprehensive global exploration, development and production database
Largest scouting network of Oil and Gas professionals - daily exploration and production is
it d i 180 t i
M&A Activity
monitored in over 180 countries
Industry standard for upstream and downstream intelligence$$
g
Information covers political, fiscal, contractual, geology, production and facilities
EVALUATE OPTIONSEXPLORE,
$$Copyright © 2009 IHS Inc. All Rights Reserved.
production and facilities
8
OPTIONSDEVELOP AND
OPERATE
QUE$TOR IntroductionQUE$TOR Introduction
Overview
QUE$TOR is a front end cost estimation tool• QUE$TOR is a front end cost estimation tool• CAPEX / OPEX / Production Forecast
QUE$TOR i d b i d t ti t f• QUE$TOR is used by engineers and cost estimators for• Prospect evaluation / Feasibility studies• Screening studies / Conceptual studies• Optimisation studies / Asset evaluations• Optimisation studies / Asset evaluations
• Designed to handle green field developmentsOffshore / Onshore / LNG• Offshore / Onshore / LNG
• Reliable, consistent approach to cost estimation• Developed and modified over +20 years
• Regional cost databases
Copyright © 2009 IHS Inc. All Rights Reserved. 10
g• Global coverage
Benefits of using QUE$TOR
R t bl th d l• Repeatable methodology• Confirm / enter prospect data• Generates production profiles (oil, gas and water)p p ( , g )• Generates field development plans• Calculates complete project capital and operating costs
Calculates decommissioning costs for all capital cost items• Calculates decommissioning costs for all capital cost items• Generates project schedules• Calculates an Investment and Production Profiles report for economic
analysis
Copyright © 2009 IHS Inc. All Rights Reserved. 11
Cost Estimation MethodologyCost Estimation Methodology
Project economics
ProductionForecast
Price
Net Cash Flow
PriceForecast
Fiscal M d lOPEX
ForecastTimeModel
CAPEXForecast
Copyright © 2009 IHS Inc. All Rights Reserved. 13
Time
Estimation basis
T ti “Middl f th R d” EPC t t t• Targeting “Middle of the Road” EPC contract cost• Pre-sanction costs excluded (FEED study, Environmental studies etc.)• Owner’s project management costs excludedp j g
• All costs in “Real Terms”• Pre-tax costs• No cost inflation / discounting
Copyright © 2009 IHS Inc. All Rights Reserved. 14
Project Cost Estimation“The only sure way to calculate the capital and operating costs of a project
is to add up all the money spent at the completion of the project”
Copyright © 2009 IHS Inc. All Rights Reserved. 15
QUE$TOR workflow
Create a Create a S h d lS h d lprojectproject Schedule
CAPEXSchedule
CAPEX
Field development schematic
Field development schematic
Select / confirm prime input
data
Select / confirm prime input
data
Generate investment
profile
Generate investment
profile
Run OPEX algorithmsRun OPEX algorithms
Create Field D l tCreate Field
D l tDevelopment Schematic
Development Schematic
Copyright © 2009 IHS Inc. All Rights Reserved. 16
QUE$TOR cost estimation
B tt ti ti i Q tit U it t• Bottom up estimation using Quantity x Unit rate• Equipment • Materials• Fabrication• Installation / Construction
Hook Up and Commissioning (Offshore)• Hook-Up and Commissioning (Offshore)• Design and Project Management• Insurance and Certification• Contingency (Up to P50 level)
Copyright © 2009 IHS Inc. All Rights Reserved. 17
Cost DatabasesCost Databases
Cost databases
R i l t d t h i l d t b• Regional cost and technical databases• 17 offshore• 11 onshore• Separate databases for each component, bulk factors and operating costs
• Costs updated twice a yearM l Q1 t• May release – Q1 costs
• November release – Q3 costs • Dedicated cost analysts ensure accuracy and consistency
• Vendors / Suppliers• Contractors / Fabricators• PublicationsPublications• Users
Copyright © 2009 IHS Inc. All Rights Reserved. 19
Cost and product update cycle
• 6 Monthly releases• 6 Monthly releases• May / November release cycle
• Database update• May release – Q1 costsMay release Q1 costs• November release – Q3 costs
• Software update• Bug fixesg• Enhancements• New features / components
• Release processCD di t ib t d t• CD distributed to users
• Release notes• Benchmarking study• Licence updateLicence update
• Software Hot fixes• Released for “critical” issues• Downloaded from FTP site
Copyright © 2009 IHS Inc. All Rights Reserved. 20
Main QUE$TOR support contact pointsAs part of the continuing licensing agreement for QUE$TOR, IHS offers a full technical support service via our London, H t d Si ffi B th ti d i i t l ti t th ti d d t di f thHouston and Singapore offices. Both computing and engineering support relating to the operation and understanding of the program are available.
Support e-mail address: support_questor@ihs.comE rope CIS Africa Middle East (London)• Europe, CIS, Africa, Middle East (London)
Tel: (+44) 208 6023800Fax: (+44) 208 6023805John Helliwell (Europe, Russia, Africa, Middle East)
il j h h lli ll@ihe-mail: john.helliwell@ihs.com
• The Americas (Houston)Tel: (+1) 713 995 1764Fax: (+1) 713 995 8593Jonathan Stephens (North, Central & South America)e-mail: jonathan.stephens@ihs.com
• Asia Pacific (Singapore)Tel: (+65) 6225 4166Fax: (+65) 6225 9694 James Blanchard (Asia, Australia)
Copyright © 2009 IHS Inc. All Rights Reserved. 21
e-mail: james.blanchard@ihs.com
QUE$TORQUE$TORPremier OilJames BlanchardJames BlanchardNovember 18th and 19th 2009
James.blanchard@ihs.comenergy.ihs.comsupport_questor@ihs.com
QUE$TOR MethodologyQUE$TOR MethodologyPrime Input Data
Development tollgates
Exploration Tollgates
Pre-FEEDRegional
AssessmentDesign,
Construct &Commission
O t E it
Exploration & Discovery
Pre-
Appraisal
FEED
Strategic
Concept
OpportunityDefinition
OpportunityIdentification
Strategic
CountryEntry
Pre-
OpportunityCapture,
Finance &Market
Feasibility
ProjectDelivery
OperateAsset
ExitAsset
PreFeasibilityConcept FeasibilityStrategic
Screening
ConceptTollgate
StrategicScreeningTollgate
PreFeasibilityTollgate
FeasibilityTollgate
Access SelectAppraisalDefine/Execute Operate
Many Fields/Prospects ManyScenarios
OptimisePlan
CarryoutPlan
Copyright © 2009 IHS Inc. All Rights Reserved. 24
Cost estimate classification
Copyright © 2009 IHS Inc. All Rights Reserved. 25
Source: AACE International Recommended Practice No. 18R-97
Generic Process FlowRe-injection
Processing Compression& Metering
Gas
Export
Flare?
Wells Wellhead / Manifolding Separation
Oil
Processing Storage
Oil
WaterExportPumps
& MeteringTreatment
& Metering
Utilities Power Quarters Drilling
Re-injection Disposal
Control
Copyright © 2009 IHS Inc. All Rights Reserved.
Utilities Power Quarters DrillingSystems
Define project
• Select units set, Imperial, Metric, Oilfield or users own
• Select main product
• Select field location to obtain default typical field data extracted from the extensive IHS IRIS21 E&P database
• Create procurement strategy or select from list of previously defined onesp y
• Select technical database, default is set by the field location
Copyright © 2009 IHS Inc. All Rights Reserved. 27
Cost databases – procurement strategy
• Can optionally specify the currency to be used for all costs and the exchange rate to the US$
• Select cost database to• Select cost database to be used for equipment, material, fabrication etc.
Copyright © 2009 IHS Inc. All Rights Reserved. 28
Field level details
• Default field data read from IHS Energy database can bedatabase can be overwritten if required
• Input units for any p yselected input value can be changed ‘on the fly’
Copyright © 2009 IHS Inc. All Rights Reserved. 29
QUE$TOR – Profile Generation
• Associated gas profile calculated automatically
All l b dit d• All values can be edited
• Automatically generates production profile p pparameters
• Field life affects operating costscosts
• Plateau rate used to size facilities
• Production rates can be edited
Copyright © 2009 IHS Inc. All Rights Reserved. 30
Concept selector
• 14 predefined concepts
• Suggests concept based l i fon analysis of
• Water Depth• Reserves• Number of wellsNumber of wells• Distance to
Infrastructure
• Alternative export options
• Development concepts can revised at the Fieldcan revised at the Field development schematic by adding or removing components and links
Copyright © 2009 IHS Inc. All Rights Reserved. 31
QUE$TOR MethodologyQUE$TOR MethodologyField Development Schematic - FDS
QUE$TOR – Cost Summary & Field Development Schematic
• Automatically calculates all component costs and populates the
Copyright © 2009 IHS Inc. All Rights Reserved. 33
y p p pcost tree using QUE$TOR defaults in seconds
Component Listing - Offshore
Copyright © 2009 IHS Inc. All Rights Reserved. 34
Component Listing – Offshore ctd.
Copyright © 2009 IHS Inc. All Rights Reserved. 35
QUE$TOR MethodologyQUE$TOR MethodologyDetailed Costing
Capital cost estimation
QUE$TOR l l t it l t f h t i t• QUE$TOR calculates capital costs for each component in terms of:
• Equipment q p• Materials• Fabrication
Installation• Installation• Hook-Up and Commissioning (Offshore)• Insurance• Design and Project Management• Contingency
Copyright © 2009 IHS Inc. All Rights Reserved. 37
Example - topsides cost estimation
QUE$TOR calculates a weight for each item of equipment or• QUE$TOR calculates a weight for each item of equipment or system
• This is multiplied by a unit cost to give a cost p y g• QUE$TOR then applies bulk material factors (te/te) to calculate
weights for piping, electrical etcSteel weights calculated using algorithms specific to substructure• Steel weights calculated using algorithms specific to substructure type
• Steel and bulk material costs multiplied by fabrication unit rates • Installation durations multiplied by vessel day rates• Atshore, Inshore, Offshore HUC calculated
D i PM C tifi ti d C ti li d t l t• Design, PM, Certification and Contingency applied to complete cost estimate
Copyright © 2009 IHS Inc. All Rights Reserved. 38
Detailed component cost
Copyright © 2009 IHS Inc. All Rights Reserved. 39
CAPEX MethodologyCAPEX MethodologyCapital Cost Scheduling
Capital cost scheduling
Built in schedules developed• Built in schedules developed from project analysis
• Start date and duration of h ti it b dj t deach activity can be adjusted
and ‘locked’• Uniform, triangular, down
t & d li dpayment & delivery and user defined cost distribution profiles available
• User can adjust the duration and start date of each activity via the Gantt chart
• Shows 1st oil date• Option to show schedule in
project or calendar months
Copyright © 2009 IHS Inc. All Rights Reserved. 41
OPEX MethodologyOPEX MethodologyOperating Expenses
OPEX methodology
QUE$TOR d t i l t OPEX % f CAPEX• QUE$TOR does not simply generate OPEX as % age of CAPEX per year as this is not field specific or accurate
• QUE$TOR splits OPEX into the following categoriesQUE$TOR splits OPEX into the following categories• Operating Personnel (incorporates regional shift patterns)• Inspection and Maintenance (labour/spares/surveys/pigging)• Logistics and Consumables (helicopters/boats/chemicals)• Well Costs (routine/non-routine)• Field and Project OPEX (onshore admin/supply base/support)j ( pp y pp )• Tariffs (paid and received)
• Details of personnel, wells, rates, weights, distances are carried f d f CAPEX f i OPEXforward from CAPEX for use in OPEX
Copyright © 2009 IHS Inc. All Rights Reserved. 43
OPEX cost summary
• Yearly operating costs
• Details for each cost centre
• OPEX easily optimised
Copyright © 2009 IHS Inc. All Rights Reserved. 44
QUE$TOR MethodologyQUE$TOR MethodologyInvestment and Production Profile
Investment and Production Profile
• Consolidates CAPEX, OPEX and production for economic analysis
• Allows preliminary p yscreening based on cost/boe
• Can be exported directly into AS$ET for economicfor economic analysis
Copyright © 2009 IHS Inc. All Rights Reserved. 46
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