OK AVZ has awarded the FEED study to Mincorp.
Feed study will be 12 weeks to complete, or for the Nervous Nannies 3 months, that is not before 31/5/21.
So highly likely 3 months of bitching from certain characters, I'll put the filters on Hotcopper and do lots of fishing.
The share price during this period will be ramped up and down like a jojo by the pip traders and accumulators.
People who do not want to enjoy the ride, get of the bus, before your heart or missus gives up.
So what is a FEED study?
COMPONENTS OF A FEED STUDY
The
Front-End Engineering and Design (FEED) process is perhaps the most important component of pre-project planning or Front-End Loading (FEL). Critical infrastructure projects are complex and highly technical with thousands of specifications to be considered. FEED studies ensure that the details of the project are in place before construction.
The primary goals of a FEED study are threefold:
- Produce all technical documents
- Confirm product specifications
- Clarify the scope of the project
This “due diligence” works through the details of the project and helps ensure that the project will produce an operational asset for the organization. FEED documentation provides shareholders with crucial budgetary and technical details that are key to the approvals process. Ideally, it proves to shareholders that their capital outlay will be a wise investment for the future and the project should move forward.
Additionally, a FEED study maps out the details of the project between the client and the details of the project between the client and the
Engineering, Procurement, and Construction (EPC) contractor. It gives the client the opportunity to determine which specifications best fit their application and lays a foundation for a positive relationship between the two parties.
Let’s take a look at some of the major components of a FEED study.
Process Flow Diagrams
These high-level diagrams show the general flow of facility processes and equipment. They offer a simple road map, illustrating how the facility operates and how the product moves through your facility.
Process and Instrumentation Diagrams (P&IDs)
These are more detailed diagrams that show how piping and processing equipment interacts with the instrumentation and control devices. P&IDs help engineers and facility operators troubleshoot issues and plan scheduled maintenance once the facility is in operation. These are essentially a blueprint schematic of your facility. Every pipe, every valve, every control valve is included.
Electrical Diagrams
Electrical diagrams are detailed schematics of all of the electrical systems in your facility. They are used to build the facility’s control systems and used to address any issues once the facility is operational.
Facility Plot Plan
A facility plot plan shows an aerial view of your roads, equipment, buildings, and surrounding land. Since it’s drawn to scale, a facility plot plan can help with planning in construction if a certain amount of space is needed to assemble a component. It’s also used to ensure enough space surrounding a facility meets safety clearances.
Design Reports
These reports give an operator the overall specifications of your facility. They tell you the input and output capacity of your equipment. They guide operations as you seek to optimize your equipment and its capacity. They also act as a gauge to determine if your facility is operating efficiently.
Civil and Structural Design and Layout
These documents tell contractors where structural elements like concrete, beams, or foundations should reside and the specifications for those elements. These detailed drawings and designs are primarily used during the construction phase.
Piping/Mechanical Design
These 3D drawings show the placement and routing of all piping within your facility. They provide directions to build all of the piping during the construction phase and help troubleshoot issues during operations.
FEED Studies are a Critical Planning Tool
In addition to the documents listed above, FEED studies provide a refined budget and scope for the project. Operating and maintenance cost estimates may also be included. FEED studies are an essential component of pre-project planning for new asset construction and large retrofit projects.
As these documents come together, design and engineering conflicts will be resolved with the client’s input. Once the designs are finalized, the project can move to the final round of approvals before procurement and construction begin.
Now we know Nigel is not idle, but he is busy.
