Economics across the Capital Project Lifecycle - · PDF fileEconomics across the Capital...

© 2013 Aspen Technology, Inc. All rights reserved

Economics across the Capital Project Lifecycle

Collaborative Engineering Webinar

March 12, 2013

Tom Fiske and Dan McCarthy

Aspen Technology

© 2013 Aspen Technology, Inc. All rights reserved |

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Ongoing Series of Technical Webinars Engineering Webinars for education and best practices

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ALSO UPCOMING:

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Common Models & Data

aspenONE Integration

Support

Manufacturing

& Supply Chain

Conceptual Engineering

Basic Engineering

Detailed Engineering

aspenONE Engineering Best-in-class engineering solutions in an integrated workflow

Aspen Simulation Workbook & Aspen Online

Deployment

Aspen Petroleum Downstream & HYSYS

Upstream

Aspen Equipment Design & Rating

Aspen Basic Engineering Aspen Capital

Cost Estimator (ACCE)

Aspen Plus Dynamics, ACM & Flare System & Energy Analyzer

Aspen Plus

Aspen HYSYS

Aspen Process Economic Analyzer

(APEA)


Aspen Plus

Aspen HYSYS


4

Economics across the Capital Project Lifecycle

Tom Fiske and Dan McCarthy

March 12, 2013


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Disclaimer

Aspen Technology may provide information regarding possible future product developments including new products, product features, product interfaces, integration, design, architecture, etc. that may be represented as “product roadmaps.”

Any such information is for discussion purposes only and does not constitute a commitment by Aspen Technology to do or deliver anything in these product roadmaps or otherwise.

Any such commitment must be explicitly set forth in a written contract between the customer and Aspen Technology, executed by an authorized officer of each company.


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Overview

• Business Overview and Challenges

• Economics in Modeling

• Templates

• Activated Economics

• Integrated Economics

• Authorization Estimation

• Aspen Capital Cost Estimator

• Revamp Estimation

• Aspen In-Plant Cost Estimator


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Business Overview and Challenges


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Business Challenge: Sound Capital Decisions Require Accurate Estimates Across the Lifecycle

Basic Engineering


Construction/ Start-up

Operations/ Maintenance/

Asset Mgt

Finance Planning

R&D

Conceptual Design


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Economic Evaluation Provides the Answers

Integrate estimation with process

modeling

Analyze constructability

with labor, schedule and

resources

Automatic scope generation with volumetric

models

Standardize basis across project and enterprise

Megaproject with multiple

project partners

Improved predictability &

efficiency of conceptual estimating


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Activated and Integrated Modeling, Sizing and Economics


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Traditional Conceptual Engineering

Equipment Design Economic Evaluation Process Simulation

Takes Weeks!


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aspenONE Conceptual Engineering


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Templates

Using Templates

Template Library

Default Templates available for each of the 5 Country Cost and Design Basis available


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Activated and Integrated Economics in Process Simulation

Process Model

Economic Evaluation

Energy Analysis

Equipment Design

Flare Analysis


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Activated Economics


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Activated Economic Analysis


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Activated Economic Analysis Quickly evaluate relative cost

Relative Cost Estimates

Cost Breakdown


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Economics Ribbon to Facilitate Workflow

New status indicators for clarity

Auto-evaluate mode – automatically calculate costs

after each simulation run


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Relative Economic Evaluation Enter Cost Options & Activate

New:

Use templates to ensure consistency and to customize sizing and costing


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Relative Economic Evaluation Map Unit Operations to Equipment

Radfrac

Condenser

Receiver

Reflux Pump

Pump

Exchanger

Column

Vessel

Packing

Section 1

Packing

Section 2

Reboiler

Equipment Unit Operation


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Relative Economic Evaluation Map Unit Operations to Equipment


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Relative Economic Evaluation Enter Equipment Specifications

Enter geometry, material of

construction, etc.


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Relative Economic Evaluation Size Equipment & Evaluate Costs

The equipment tab shows weights and costs for each equipment item.


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Relative Economic Evaluation Size Equipment & Evaluate Costs

The summary tab provides an overview of

operating and capital costs.

These relative estimates are sufficient for comparing conceptual

alternatives.


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Business Challenge: Minimize Capital and Operating Costs

Capital Cost

Operating Cost Equipment

Design

Process Design


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Business Challenge: Minimize Capital and Operating Costs

Two alternative designs are under consideration for GOSP

Two stage separation

….or three stage separation with a stabilizer column


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Economic Evaluation Product Family

Conceptual Engineering

Front End Eng Design

(FEED)


Construction/ Start-up

Operations/ Maintenance/ Asset Mgmt

Business /

R&D

Aspen Process Economic

Analyzer (APEA)

Aspen Capital Cost Estimator (ACCE)

Aspen In-Plant Cost

Estimator (AICE)

ONE Economic Model


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Authorization Estimation


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Overview

Five country basis available (US-Houston, UK-Northwest, EU-Rotterdam, JP-Tokyo, ME-Saudi Arabia Western region

Costs updated yearly based on 1st Quarter data collection

Flexible “engineered” estimate. Changing the Design Basis may change estimate quantities


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Open Project in ACCE


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Adjust Specifications

Estimators Review and Adjust

• Design Codes

• Seismic Requirements

• Soil Loadings

• Electrical Specifications

• Instrument Specifications

• Field Productivity and Wage Rates

• Constructability


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Merge Projects or Import Project Areas


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Add Components

Examples

• Cooling Water Systems

• Communication and Alarms

• Steel Structures

• Pipe Racks

• Site Works

• Buildings


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Estimate and Review


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Project Scaling and Relocation

Project size can be scaled up or down

Project Relocation available for 89 locations.

Modifies both costs and design


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Revamp Estimation


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Revamp and Maintain


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Economic Evaluation Provides the Answers

Integrate estimation with process

modeling

Analyze constructability

with labor, schedule and

resources

Automatic scope generation with volumetric

models

Standardize basis across project and enterprise

Megaproject with multiple

project partners

Improved predictability &

efficiency of conceptual estimating


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PEMEX Economics across the design lifecycle

Challenge Solution Result

Integration of simulation, estimation, and project control

Equipment and sizing data received from Aspen HYSYS via integrated economics

Cost estimation using ACCE

Monte Carlo risk assessment using Crystal Ball software

ACCE integrated with Primavera

PEMEX integrated work flow

Ref: : Olga Monterrubio, PEMEX, AspenTech Global Conference: OPTIMIZE 2011, Washington DC, June 2011


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PEMEX Improving estimating accuracy and project oversight

Challenge Solution

Achieving Class IV estimates within 21%

Achieving Class III estimates within 16%

Predictable and consistently superior results

Successful integration with project control phase

Benchmarking estimated and final installed capital costs

Ref: : Olga Monterrubio, PEMEX, AspenTech Global Conference: OPTIMIZE 2011, Washington DC, June 2011


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Optimize 2013 Global Conference

Technip Why to use Aspen Capital Cost Estimator in the estimation process

Pemex Using new refinery cost estimation procedures

SABIC Methanol to Chemicals – A Conceptual Approach with Aspen Engineering Suite (including integrated economics)

May 6-8, 2013

See these and over 50 additional presentations and training sessions

Suncor Use of Aspen Capital Cost Estimator for oil sands projects


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Registration Discount for Webinar Attendees!

$1,500 – a savings of 25% off the standard conference fee! For more information, visit www.optimize2013.com and use the promotional code WEB2013 to receive the discount. Offer Expires March 31!

OPTIMIZE 2013 6 – 8 May 2013 The Westin Waterfront Hotel Boston, MA USA

http://www.optimize2013.com/


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What Next?

Get more information now

– Additional resources available at: http://www.aspentech.com/products/aspen-economic-eval.aspx

– Videos also available at: www.youtube.com/user/aspentechnologyinc

Contact info for today’s presenter and hosts – Tom Fiske [email protected]

– Dan McCarthy [email protected]

– Ron Beck [email protected]

– Luisa Herrmann [email protected]

http://www.aspentech.com/products/aspen-economic-eval.aspx





http://www.youtube.com/user/aspentechnologyinc

mailto:[email protected]





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