Project Management and Engineering Costs

  1. Subsea
  2. Production Engineering
  3. Production Facilities


The project management of a subsea field development mainly includes planning, execution, processes monitoring and controlling, resources managing, and etc. The cost should be estimated for each stage of the project. The costs for each stage mainly depend on the personnel, e.g. the senior consultant fee, the engineers fee, etc. On average, the costs of different engineers are shown below:

  • Project Engineer: USD 24 K/month;
  • Tree Engineer: USD 20 K/month;
  • Controls Engineer: USD 20 K/month;
  • Flowline Engineer: USD 20 K/month;
  • Riser Engineer: USD 20 K/month;
  • Flow Assurance Engineer: USD 25 K/month.

References

[1] AACE International Recommended Practice, Cost Estimation Classification System, AACE, 1997, NO. 17R-97.

[2] Douglas-Westwood, The Global Offshore Report, 2008.

[3] C. Scott, Investment Cost and Oil Price Dynamics, IHS, Strategic Track, 2006.

[4] U.K. Subsea, Kikeh – Malaysia’s First Deepwater Development, Subsea Asia, 2008.

[5] Deep Trend Incorporation, Projects, http://www.deeptrend.com/projects-harrier.htm, 2010.

[6] American Petroleum Institute, Specification for Subsea Wellhead and Christmas Tree Equipment, first ed., API Specification 17D, 1992.

[7] American Petroleum Institute, Specification for Wellhead and Christmas Tree Equipment, nineteenth ed., API Specification 6A, 2004.

[8] FMC Technologies, Manifolds & Sleds, FMC Brochures, 2010.

[9] Mineral Management Service, Life Time Cost of Subsea Production Cost JIP, MMS Subsea JIP Report, 2000.

[10] R. Goldsmith, R. Eriksen, M. Childs, B. Saucier, F.J. Deegan, Life Cycle Cost of Deepwater Production Systems, OTC 12941, Offshore Technology Conference, Houston, 2001.


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