For appraise stage for any offshore project it is important to define the expected cost for platform offshore structure. The cost of materials, construction and installation is direct function to the steel weight. So if we can expect the weight of the platform in early stage precisely as it can it will provide a good data to the decision maker. This study is focus in providing a parametric figure for the platform weight based on the water depth. From this study it provides an equation to provide us the platform weight as function of water depth and also the topside weight with a reasonable accuracy.
In the early stages for the projects it is required to define the cost estimate and as per AACE in pre feed the cost estimate will be + 40 ﹪. As there are around 100 platform with different water depth. By this parametric methods it is possible to define the cost estimate more accurate as many business decision will be taken based on these numbers.
The cost estimate for materials, construction and installation is linear function to the weight of the steel. So if the steel weight of the platform is define very well the accuracy of the total cost estimate will be more accurate. In addition to that the installation strategy and the required barge is depend mainly on the platform weight so if you have an accurate data it will be optimum to define early the project execution strategy.
Parametric cost estimation methods seek to evaluate the costs of a product from parameters characterizing the product without describing it completely. This method meets the criteria of precision and speed of results with well defined part families but without good explanation facilities. At least three types of parametric methods have been identified (Duverlie and Castelain, 1999): The method of scales, statistical models, and cost estimation formulae.