Field Development Cost Forecast in Malaysia

A Field development project is an early stage of a field cycle. Before any action is
carried out there must be a study done to estimate all the cost involved to make a
specific project worth to be approved. To achieve this many different software and
techniques are applied to minimize investments and maximize the revenue. However,
each project has their own requirements to be fulfilled making it harder to use certain
software to obtain great result The E&P industry has worked for years to develop
software tools to help integrate various subject matter estimates into a unified model
of the business plan for oil and gas assets.
Questor that developed by IHS is one of the tool that involve with cost estimation or
in other word a tool that used to forecast the cost for a specific project of a field. It is
include with project cost estimation for offshore structures and reduce the time for
cost estimation for onshore by analyzing certain components. All these components
are being considered before any summary of cost involved is finalized.