Vista expects to complete FEED phase of a major Oil & Gas project 16% under budget
Canadian engineering firm attributes savings to using AVEVA integrated engineering and design software
Calgary, AB: Canadian based Vista Projects (Vista), has announced that it is on track to complete the nine-month front-end engineering and design (FEED) phase of a major oil and gas project on time and under budget. The market-leading engineering and procurement (EP) firm attributes significant gains in cost reduction to its implementation of AVEVA’s Integrated Engineering and Design (IE&D) solution.
“Oil and gas producers are under a lot of pressure to make their projects profitable in the current low commodity price environment,” says Vista Principal Patrick Reilly. “To help, we’re working to reduce our costs by applying innovative technology. In addition to lowering engineering costs, our clients are looking for an engineering partner that can reduce the full lifecycle costs of its assets. AVEVA’s integrated solutions are enabling us to accomplish this.”
For Vista, project long-term viability begins in engineering. Their recent implementation of AVEVA’s IE&D solution alongside AVEVA NET – AVEVA’s enterprise information management solution – enabled the firm to streamline processes, provide transparency to the owner as the project develops and reduce handover costs. Results to date have been positive; Vista is expecting significantly reduced costs in detailed engineering compared to previous benchmarks.
“By using AVEVA’s integrated solutions, we’re on track to deliver this project on-time and under-budget and are actively pursuing new opportunities using the same methodology,” commented Reilly.
The project – the FEED for a large-scale, greenfield steam assisted gravity drainage (SAGD) facility – is commissioned by a major Canadian oil & gas producer and set to complete 16% under budget, which is in part attributable to AVEVA’s IE&D solution. Reilly will be presenting these findings on the 8th September as part of the 2016 World Heavy Oil Congress being held in Calgary.
AVEVA’s IE&D solution integrates engineering, design and project management applications for EP contractors and owner operators. It streamlines data integration with other functions such as estimation and procurement, and improves design efficiencies by combining 2D and 3D tools to enable all project personnel to work from a single, shared platform.
AVEVA Group plc
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AVEVA software has powered the design and construction of some of the world’s most complex engineering projects over the last 50 years. AVEVA enable engineering contractors, Owner Operators and shipbuilders to work more safely, more efficiently and with less risk throughout the life cycle of their projects and operations. For further information please visit www.aveva.com/ednotes.