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Search Petrowiki: AFE AND initial project cost estimate
...AFE and ...initial project cost estimate Obtaining an internal ...project financing with an authorization for expenditure (...
Obtaining an internal project financing with an authorization for expenditure (AFE) will consist of doing a project cost estimate and schedule for the total internal and external project expenditures and presenting it to management and partners for approval of these future expenditures. Depending on the data available to you from previous similar projects and your skill and confidence levels, you can do this estimate yourself or ask your chosen engineering contractor to help. You should review your company's standard forms and conditions for AFEs. You should also review the joint operating agreement (JOA) on this subject because its requirements may be different from your company's requirements. If you choose to do the AFE estimate yourself, you should consult the equipment and service vendors in your area that will eventually be supplying the project equipment and services for help in both these areas.
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...Category:1.1.2 Authority for expenditures (AFE) . Pages in category "1.1.2 Authority for expenditures (...AFE)" The following 14 pages are in this category, out of 14 total. A * ...AFE and ...
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...Monitoring and reporting progress and cost of projects The ...project team is now fully assembled, and it is time to start the physical ...project work with all members becoming involved in the engineering, purchasing, and contracting effort. The...
The project team is now fully assembled, and it is time to start the physical project work with all members becoming involved in the engineering, purchasing, and contracting effort. These accomplishments must be measured and reported to determine the efficiency of the work and the true financial impact of the project. Real progress on a job is determined by a counting of such things as the number of documents delivered vs. the total number or the number of welds made vs. the total number required. Progress is not measured by comparing the money spent vs. the money allocated. The requirement for real progress monitoring increases as the job grows in size and complexity.
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...Project execution of surface facilities The first two things to do before you actually begin the ...project execution are to confirm the ...project scope, including schedule and to establish the contracting strategy you will follow to accomplish t...
The first two things to do before you actually begin the project execution are to confirm the project scope, including schedule and to establish the contracting strategy you will follow to accomplish the task assigned. Schedule * 3.2 Part two * 3.2.1 Execution strategy * 3.3 Professional services * 3.3.1 Invoices * 4 Choosing a project team * 5 Manager's responsibility * 6 Project team * 6.1 Personnel * 7 Selecting an engineering company * 8 AFE * 9 Partners' approval * 10 Presentations * 11 Discussions * 12 Procurement * 13 Bid package * 14 Project closeout * 15 References * 16 Noteworthy papers in OnePetro * 17 External links * 18 See also Immediately after notification of your appointment as project manager, you should determine whether your company has any previous experience in this type of project. If so, you should review the project files and determine whether that effort was considered a success or failure and the reasons for that assessment. Remember, those who ignore history are bound to repeat it. You should also copy and review the lease and joint-operating agreement (JOA) that affect the project.
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...Project management of surface facilities ...Project management is quite different from engineering. An engineer is normally responsible only for his or...t and generally deals with the reactions of inanimate substances that follow the laws of physics. A project manager is required to be responsible for the quantity, quality, and timeliness of work products th...
Project management is quite different from engineering. An engineer is normally responsible only for his or her own work product and generally deals with the reactions of inanimate substances that follow the laws of physics. A project manager is required to be responsible for the quantity, quality, and timeliness of work products that generally do not follow any physical laws. To succeed as a project manager, the most important thing is to ensure good communication within the project team. Communication can be accomplished in many forms (verbal, written, formal, and informal), but one size does not fit all, and the project manager is responsible for communications concerning the project and its execution.
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...PEH:Project Management of Surface Facilities Publication Information Petroleum Engineering Handbook Larr...neering Kenneth E. Arnold, Editor Copyright 2006, Society of Petroleum Engineers Chapter 15 โ Project Management of Surface Facilities Gregory J. Kreider, AMEC Paragon Pgs. 565-590 ISBN 978-1-5556...3-118-5 Get permission for reuse Project management is quite different from engineering. An engineer is normally responsible only for his or...
Project management is quite different from engineering. An engineer is normally responsible only for his or her own work product and generally deals with the reactions of inanimate substances that follow the laws of physics. A project manager is required to be responsible for the quantity, quality, and timeliness of work products that generally do not follow any physical laws. To succeed as a project manager, the most important thing is to ensure good communication within the project team. Communication can be accomplished in many forms (verbal, written, formal, and informal), but one size does not fit all, and the project manager is responsible for communications concerning the project and its execution. The communicator, not the listener, is responsible for ensuring that the message has been received and understood. It is also important to understand that the final cost of a project is affected more by its design than by its execution. The decisions made in developing a concept have a much greater impact on cost than those made later on, as indicated inFigure 1.1. Figure 1.1--Ability to influence project costs vs. project life cycle. For our purposes, a project is defined as the group of tasks necessary to reach a given goal in the required timeframe. The project manager is the person responsible for getting those tasks accomplished and achieving that goal.
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...ngineering Kenneth E. Arnold, Editor Copyright 2006, Society of Petroleum Engineers Chapter 15 โ Project Management of Surface Facilities Gregory J. Kreider, AMEC Paragon ISBN 978-1-55563-118-5 Get perm...ission for reuse Project management is quite different from engineering. An engineer is normally responsible only for his or...t and generally deals with the reactions of inanimate substances that follow the laws of physics. A project manager is required to be responsible for the quantity, quality, and timeliness of work products th...
Project management is quite different from engineering. An engineer is normally responsible only for his or her own work product and generally deals with the reactions of inanimate substances that follow the laws of physics. A project manager is required to be responsible for the quantity, quality, and timeliness of work products that generally do not follow any physical laws. To succeed as a project manager, the most important thing is to ensure good communication within the project team. Communication can be accomplished in many forms (verbal, written, formal, and informal), but one size does not fit all, and the project manager is responsible for communications concerning the project and its execution. The communicator, not the listener, is responsible for ensuring that the message has been received and understood. It is also important to understand that the final cost of a project is affected more by its design than by its execution. The decisions made in developing a concept have a much greater impact on cost than those made later on, as indicated in Figure 1.1. Figure 1.1--Ability to influence project costs vs. project life cycle.
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...Project management is quite different from engineering. An engineer is normally responsible only for his or...t and generally deals with the reactions of inanimate substances that follow the laws of physics. A project manager is required to be responsible for the quantity, quality, and timeliness of work products th...at generally do not follow any physical laws. To succeed as a project manager, the most important thing is to ensure good communication within the ...
Project management is quite different from engineering. An engineer is normally responsible only for his or her own work product and generally deals with the reactions of inanimate substances that follow the laws of physics. A project manager is required to be responsible for the quantity, quality, and timeliness of work products that generally do not follow any physical laws. To succeed as a project manager, the most important thing is to ensure good communication within the project team. Communication can be accomplished in many forms (verbal, written, formal, and informal), but one size does not fit all, and the project manager is responsible for communications concerning the project and its execution.
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...ns * 2.2 Deterministic, Analytical, and Monte Carlo Models * 2.3 Early Emphasis on Reserves/Later Cost and Value * 3 Language of Risk Analysis and Decision Making * 3.1 Descriptive Statistics * 3.2 M...isk Analysis, Risk Mitigation, and Risk Management * 5 Typical Applications of Technologies * 5.1 Cost and Time Estimates * 5.2 Handling Problems * 5.3 Points Worth Pondering * 5.4 Resources and Rese... Pitfalls of Deterministic Models * 6.1 Aggregating Base Cases-Adding Modes and Medians (Reserves, Cost, Time) * 6.2 Multiplying Base Cases or P10s (Factors to Yield Reserves or Resources) * 6.3 Includ...
The oil and gas industry invests money and other resources in projects with highly uncertain outcomes. We drill complex wells and build gas plants, refineries, platforms, and pipelines where costly problems can occur and where associated revenues might be disappointing. We may lose our investment; we may make a handsome profit. We are in a risky business. Assessing the outcomes, assigning probabilities of occurrence and associated values, is how we analyze and prepare to manage risk.
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...ES Pages in category "NR" The following 190 pages are in this category, out of 190 total. A * AFE and ...AFE: cementing * ...AFE: completion equipment * ...
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