Round table “Estimating the cost of construction of oil and gas facilities: foreign practices and implications for Russia”

On June 17 in Moscow at hotel Baltschug Kempinski the company Ingenix Group organized a round table “Estimating the cost of construction of oil and gas facilities: foreign practices and implications for Russia”.

The round table has reviewed the practice of Russian and international companies in estimating the cost of construction of oil and gas facilities. The most topical issues, which the companies resolve in the making of their own cost estimation system, were discussed:

What are the main differences between Russian and international techniques of estimating the cost of oil and gas field development?
Application of which cost estimation techniques is the best for Russia?
Is it possible to create a single oil and gas projects costs database in Russia?
How can oil and gas facilities’ construction cost modeling on the basis of the comparables be useful?

Some of the recited reports should be particularly noted:

“Estimation of total cost of ownership of oil and gas equipment” (Teterin V.A., LLC Gazpromneft-Development)
“Improving accuracy of capital costs estimation. International companies’ practice in Russia” (A. Vezeril, Karakum Ltd.)
“Some peculiarities of application of cost forecasting techniques at early stages of execution of an oil and gas production project” (Rybin A.I., independent consultant)
“Estimating the costs of construction of oil and gas facilities” (Dubovitskaya E.A., Ingenix Group)

The event reveled the existing problems in the cost estimation techniques, possible solutions and challenges for the companies on the upcoming issues in this area.

Thanks to Ingenix Group the round table was held at a high technical and qualification level!