PRE-FEED & FEED Study Accuracies:
The key deliverables for a PRE-FEED & FEED study will be a technical project feasibility assessment and a cost estimate targeted to an accuracy of a 75% confidence level for the PRE-FEED and an accuracy of a 90% confidence level for the final FEED.
FEED:
The FEED is basic engineering which comes after the Conceptual design or Feasibility study. The FEED design focuses the technical requirements as well as rough investment cost for the project. The FEED can be divided into separate packages covering different portions of the project. The FEED package is used as the basis for bidding the Execution Phase Contracts (EPC, EPCI, etc) and is used as the design basis.
A good FEED will reflect all the clients’ project specific requirements and avoid significant changes during the execution phase. FEED Contracts usually take around 1 year to complete for larger sized projects. During the FEED phase there is close communication between Project Owners and Operators and the Engineering Contractor to work up the project specific requirements.
The final "evaluation" phase is to commission a full FEED study, designed to provide the project ownership groups with layout and facility drawings such that they can go to manufacturers for pricing and detailed design, as well as enough information to make a final investment decision on the project, including but not limited to all aspects of the project:
Natural Gas Delivery:
Including existing facilities, Compression, Liquefaction, Storage, Loading, Shipping, Jetties, Unloading, Licensing and Permits etc. This will result in an estimate of Tolls to approximately +/- 10% (steel and ship prices are subject to prices at time of ordering typically).
Power Generation:
Including existing facilities, Transformers, Switchgear, Power Plant Equipment, Civil Engineering, Connection to the Grid, and Operations & Maintenance. This will result in an estimate of Tariffs to approximately +/- 10%
