Subsea Development CAPEX Estimate Improvement by Implementing AACE RP 18R-97, ISO 19008, and NPS Template (A Case Study).

The Government of Indonesia has decided to shift away from oil to natural gas as the strategy of national oil & gas security. This means, more natural gas projects on the coming years. But there's a fact that projects overrun are becoming "global phenomenon". This might hinder the Governments' strategy becoming reality. To address this, Author had simulated a case study of an imaginary subsea field development concept selection. 2 scenarios had been given to be analyzed which one was the best in terms of cost efficiency. CAPEX estimate of both scenarios were initiated by determining class of estimates with regards to AACE RP 18R-97. Later, creation of multidimensional WBS with regards to ISO 19008. Finally, the WBS was applied to the relevant US National Park Standard Template as a CBS. The case study concluded that proper selection of estimating method, application of multidimensional WBS/CBS (ISO 19008) on to the standard estimation template would significantly increase the CAPEX budget visibility as well as traceability. Hence, this would significantly increase the quality of the CAPEX estimate. [ABSTRACT FROM AUTHOR]