Crude Oil Storage Tank Construction Cost

550 285 000 total capex for tank faarm 61 14 per barrel 512 77 per m3 a 5 discount rate plus a 4 operating rate translates to pe.

Crude oil storage tank construction cost. Construction management costs 21 102 663 21 102 663 3 165 400 24 269 000 overhead profit 52 724 485 52 725 000 epcm costs. Storage tanks fill up despite a landmark deal between opec and its allies to cut. As an example if i want to calculate the updated cost for the year 2012 then the ratio for the cost index current to the cost index base would be based on the cost index for the year 2012 divided by the cost index for the year 2007. Oil futures plunged to their lowest level in history as demand for crude continues to plummet and u s.

The tank tiger provides as much service as required between the storage terminals and the suppliers to get your deal done. In order to obtain. Api 650 is widely used for tanks that are designed to internal pressures of 2 5 psi or less and store products such as crude oil gasoline chemicals and produced water. A 60 million project to add about 7 million barrels of new crude oil storage capacity at cushing was announced tuesday by houston based plains resources inc an oil and gas company formerly headquartered in oklahoma city plains president patrick collins said construction of the facility to include about 59 above ground crude storage tanks with capacities ranging from about 100 000 to.

Rough storage costs for a developed country with a normal inventory turnover representing short term storage. Storage capacity 750 000 barrels 89 430 m3 x12 9 000 000 barrels 1 073 160 m3 170 472 000 tanks alone. It dictates tank design fabrication welding inspection and erection requirements. Large crude oil storage tanks by utilizing high tensile steel abstract larger tanks and at less cost per barrel of oil stored can be attained by utilizing high tensile steel as has been shown by the construction of the 100 000 m3 630 000 bbls automatically welded floating roof storage tanks at shell s europoort terminal.

0 15 bbl for a terminal connected by pipeline 0 5 bbl for a terminal with marine docking facilities the costs can very significa. Our portfolio contains a large number of suppliers of petroleum products or crude oil searching for storage on a long term or short term basis. The ga was coded in the matlab software and was executed to estimate the construction cost of the spherical storage tank in 11 random samples. This i believe should give a 25 cost estimation from the actual cost.

Subtotal cost contingency total cost tank farm and storage terminal cost estimate. Crude oil tanks 750k bbl x 12. Api 650 is the standard governing welded tanks for oil storage.