APEX MODELLING IN OIL & GAS

A PRACTICAL GUIDE FOR MODELLERS


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Ask a modeller in the oil and gas industry about costs and chances are they will think that capital expenditure (“capex”) is way more important than operating expenditure (“opex”).

Yet over the life of the project, opex is often a much larger number than capex. In addition, it can be difficult to model.

This guide will help you understand the types of opex that you are likely to encounter in oil and gas projects. It will provide you with worked examples. It will help you understand why opex is important
and prompt you to ask questions when you are modelling.

Topics covered in this ebook include:

  • Understanding how to model opex
  • How and when opex is estimated
  • "Top-down" and "Bottom-up" opex estimates
  • Annualisation of opex
  • Different categorisations of opex

Also inlcuded is a comprehensive opex modelling checklist.

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