Overview

Rystad Energy’s Cost Estimating Solution supports energy companies by providing accurate and transparent cost models for projects across multiple energy sectors. With real-time market data, users can assess cost dynamics, including inflation and design trade-offs. The tool ensures improved decision-making by helping model upcoming projects, refine estimates, and understand cost variables in energy, oil, gas, and renewable sectors.

Features and Capabilities

• Advanced Customizable Cost Models: The solution allows the creation of detailed, tailored cost models to fit specific energy projects, ensuring estimates are aligned with unique requirements and project conditions.
• Inflation-Linked Forecasting: It provides tools for adjusting cost projections according to inflation, offering more accurate long-term cost estimates for capital expenditures (CAPEX) and operational costs.
• Real-Time Market Data Integration: Leveraging dynamic market data, the solution ensures that estimates remain relevant and updated, providing a competitive edge in planning.
• Seamless Collaboration with FieldTwin: Integration with FutureOn’s FieldTwin enhances collaborative project development by allowing users to easily share and adjust estimates within the platform for real-time team collaboration.
• EPC Cost Analytics: The solution offers in-depth analytics for Engineering, Procurement, and Construction (EPC) costs, ensuring comprehensive project evaluation from the initial design phase to final execution.
• Design and Execution Trade-Offs: Helps project managers and engineers evaluate and make informed decisions on trade-offs between design choices, project scope, and execution methods, ensuring the most cost-effective approach is used.
• Dynamic Cost Adjustment Mechanisms: Designed to adjust for changes in market conditions, allowing users to revise their project estimates based on the latest economic data, commodity price fluctuations, and geopolitical factors.
• Specialized Offshore/Onshore Cost Insights: The solution provides distinct cost breakdowns for both offshore and onshore energy projects, accounting for unique challenges and requirements in each environment.
• Project Portfolio Risk Evaluation: It helps manage and assess risk across multiple projects in a portfolio, offering predictive analytics that identify potential cost overruns and allow teams to mitigate financial risk early in the project lifecycle.
• Comprehensive Cost Impact Modeling: Users can model the financial impact of different project variables, such as technology choices, timelines, and labor costs, leading to more precise budget allocations.
• Detailed Market Forecasting: The solution integrates forecasting tools that analyze industry trends and predict future cost variations, empowering decision-makers to adjust strategies proactively based on market projections.