JV Partner FID Support – Technical and Economic
The project is a subsea tieback to an offshore gas platform and was at the end of the FEED (definition) phase. The non-operating JV partner requested Atteris to benchmark and review the cost and schedule estimates and challenge margins, design requirements and costs.
Work Performed by Atteris
Over a 2 week period, Atteris performed a thorough review of the cost and schedule estimates and delivered a study report with the following outcomes:
- Benchmarked the project cost against a number of similar projects, normalising costs using the upstream capital cost index (UCCI) and by cost estimating the technical differences between the various projects
- Identified and listed technical and schedule challenges which were used to drive the operating JV partner to reduce cost and improve schedule
Following the initial CAPEX and technical review, Atteris continued ad-hoc support to assist its client to finalise its internal FID package.
Atteris assisted its client (a non-operating JV partner) by assessing the subsea and pipeline (SS&PL) aspects of the project’s FID package. Atteris’ findings enabled our client to challenge its JV partner’s design with a number of technical, cost and schedule item issues, resulting in a revised and lower cost FID package.