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Conceptual Study

Definition

Conceptual Study stands in the oil and gas and petrochemical industry at the very early stage of a greenfield project to identify all the possibilities and conditions to develop this project.

Comments

During the conceptual study, the engineers will:

– Investigate the multiple technologies to be used

– Evaluate the costs of each solution, especially during the total life cycle of the project including capital expenditure for the construction (CAPEX) and operational expenditure (OPEX) to run the plant

– Estimate construction challenges versus benefits in operations and vice versa

– Measure the impact on the environment (foot print, water and energy consumption, CO2 emissions, local acceptance, decommissioning and restoration costs)

– Draft planning corresponding to each solution to identify critical items

– Identify potential risks on the project and hazards for personnel

– List all the required offsites and utilities

– Determine all the infrastructures needed to bring in the feedstock and to export the production

– Include local constraints about regulation, taxations, employment, content

After this technical and budgetary evaluation, all the pros and cons will be considered to select the optimized process for a specific project in a given environment

Not all the projects have the same complexity and therefore the same need of an extensive conceptual study.

When completed, and if validated, the conceptual study will be the base for the front-end engineering and design (FEED) of the project.

If the oil and gas companies perform sometimes their own conceptual studies, they sub-contract the FEED to engineering companies and later on the engineering, procurement and construction (EPC) contracts.

For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer

4 Comments to “Conceptual Study”

  1. I have read so many articles concerning the blogger lovers however this paragraph is in
    fact a good post, keep it up.

  2. I would like to know difference between conceptual study and feasibility study.

    • It’s very much the same, the only difference is that Conceptual Study is mostly technical, while feasibility study is normally including a comprehensive commercial and financial analysis

  3. Would like to know the difference between conceptual studies and feasibility studies specially for brown field projects.

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