ABSTRACT
Development of complex projects in oil and gas industry requires a profound search for possible methodical approaches to an integrated economic evaluation. One of the most influential challenges is to determine appropriate cost assumptions and to obtain reliable data including capital and operational expenditures for well-prepared decisions. Integrated method uniting modular analogue objects database and cost models to perform early phase cost estimation of oil and gas projects can serve as a solution to increase accuracy and transparency of estimates in current conditions. Results of actual data vs. estimates deviation analysis are presented in the case study from Russian oil and gas industry showing benefits one can derive from calibration and combined usage of two advanced cost estimation tools.
