In two previous posts, I shared how to estimate Purchased Equipment Cost (PEC) of flare system and how to estimate the installation cost of flare system. In this post, I want to share how to estimate total capital cost or total investment cost of flare system.
The overall total investment cost of flare system is illustrated below.
In this post, I want to share to you how to estimate total capital cost of flare system, especially installation cost. In previous post, I already shared a step-by-step method on how to estimate purchase equipment cost of flare system.
Installation cost of flare system covers direct installation costs and indirect installation costs.
In this post I want to share how to estimate total capital cost of flare system. Since the post is quite long, I will divide it into 3 posts:
In the last part, I will also post a free spreadsheet on how to estimate capital cost of flare system described in every post.
For disclaimer, the accuracy of this cost estimation is ±30% (study estimate). Apply for tip flare tip diameter ranging from 1-60 in and stack heights ranging from 30-500 ft. Standard construction material is carbon steel.
The cost is based on 2017$ basis.
