Hydrocarbon processing and transportation companies turn to Independent Project Analysis (IPA) for data-driven insights on executing refining, midstream, and pipelines capital projects cost effectively and achieving expected rates of return on investment.
The Hydrocarbon Processing and Transportation (HPT) industry sector serves companies that refine petroleum, process natural gas, and move products to market through pipelines and terminals. The following HPT capital project scopes are covered by this industry sector:
IPA has developed a set of evaluation and analysis tools specific to the unique nature of these projects. As a result, clients receive unmatched insights into the definition and development of their projects. With cost, schedule, and other performance measures from thousands of HPT projects (currently more than 4,500), the sector delivers reports and presentations prepared by experienced analysts for clients who require quantitative project performance data to determine how best to move forward with capital project investments.
The sector supports HPT clients at the project, system, and industry levels.
Individual Project Level
Benchmarking gives clients an objective and quantitative assessment of a project's cost and schedule competitiveness against like projects and provides a measure of project development readiness.
Project System Level
The performance of a client’s project system can be evaluated to identify weak and undefined functions and work processes. Evaluations also result in recommendations to improve capital project system effectiveness.
Downstream industry benchmarking conferences and cost engineering forums allow participating HPT companies to share Best Practices for delivering more cost-effective capital projects.
IPA recognizes that improving capital effectiveness is one of the few obvious ways by which companies in the HPT industry sector can improve the profitability of their operations. Therefore, companies must focus on practices that lead to effective project execution.
With its projects database that includes metrics on thousands of hydrocarbon processing and transportation projects from sites around the world, IPA has developed analytical tools suited to evaluate the adequacy of a project’s definition throughout its development, and measure and compare cost and schedule competitiveness with dozens of like projects. These tools, combined with IPA’s nearly 30 years of experience and research into capital projects and project systems, are proven to have helped clients deliver more cost effective capital projects.
Executing projects cost effectively not only includes profitability, but also ensures that resources can be stretched as far as possible.
Capital Project Evaluation
Owner companies have turned to IPA to benchmark and evaluate the performance of individual capital projects and project systems for nearly 30 years. The HPT industry sector maintains and continually adds to a proprietary database containing input from more than 4,500 HPT projects.
Using industry-recognized statistical models and assessment tools, experienced IPA analysts are able to provide a variety of capital project evaluation services for its HPT industry clients.
IPA offers organization and project team assessment services to determine owner and project team function competencies and assess team integration, including the use of contract services.
With databases containing information on more than 4,500 capital projects in the hydrocarbon processing and transportation (HPT) industry, IPA is well positioned to advance industry capital project performance knowledge and provide answers to today’s industry challenges. Downstream project research conducted by IPA has increased the industry’s understanding of Best Practices that drive the performance of many HPT projects, including petroleum refining, LNG, and onshore gas processing project outcomes. A separate database of more than 1,000 pipeline and terminal projects offers additional research opportunities.
Project Assessment Software
With the FEL Toolbox software application, a company can accurately measure the quality of Front-End Loading (FEL), or project definition, for a particular project (less than US $20 million), based on IPA data. Additionally, project teams can use the application to benchmark their project’s FEL compared to other projects executed by their company as well as similar projects in the industry.
Training & Education
The IPA Institute, IPA’s education division, offers a suite of courses centered on various capital project development Best Practices derived from IPA research. The following are public courses frequently attended by project professionals in the HPT industry:
Industry Conferences & Committees
Several owner clients participate in industry groups sponsored and coordinated through IPA. These groups gather annually to share knowledge and Best Practices for improving capital project effectiveness:
So your company has a great new capital project that the business is anxious to get underway. If the project is a success, it will increase the company’s market share in a competitive market. The company must decide who it will tap to serve as the project manager... Read More
It is easy to understand why using modular construction on projects carries some appeal. The commonly held view is...
Manager, Hydrocarbon Processing & Transportation
As Manager of the Hydrocarbon Processing and Transportation (HPT) Business Area, Andras Marton is responsible for developing business plans and maintaining client relationships with companies in these industries. He has been involved in the analyses of refinery, chemicals, and pipeline projects for major international companies, and has also facilitated IPA Institute courses and conducted workshops on a client’s process development system to identify gaps and make recommendations to ensure the successful commercialization of their new technology projects. Previously at IPA, Andras was the client coordinator for the U.S. Department of Energy (DOE) and National Renewable Energy Laboratory (NREL).