Analysis yields turnaround benchmarks for allowance, contingency

04/02/2012
Gordon Lawrence AP-Networks Amsterdam Turnarounds—also known as planned outages or shutdowns—are major events for refineries and other petrochemical facilities. They typically cost large sums of money to execute. Cost estimates for turnarounds, however, have historically been rather inaccurate. This can often be traced to an inability accurately to calculate allowances and contingency for "unknowns" in the estimate. This article examines the allowances and contingencies that are needed, the different methods used for calculating them, and how much money is typically allocated and required. From this, it provides some "rule of thumb" benchmarks for turnaround estimators...
read-story

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.

 

Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected