As commercial scale CCS projects approach the end of the Front End Engineering and Design (FEED), project sponsors and/or financing agencies will be looking for information to assist them in their decision whether to participate in the construction and operational phases of the project. A Financial Investment Decision (FID) is the expected outcome of a successful project management process.
Since establishing CCS TLM, the management team have performed several Independent Project Review (IPR) giving the project sponsors information about the readiness of the project for FID, and also explore and quantify what options might still remain for improving the commercial outcome for the sponsors.
CCS TLM Limited is a specialist Carbon Capture and Storage consultancy with expertise in the commercial, process engineering, reservoir engineering and project management required to deliver these complex projects.
A key feature of the IPR process is that it examines the entire integrated project, rather than a specific feature. Focused reviews have a place but it is our opinion that a potential investor requires a view across all features of the project to obtain a view of the potential commercial outcomes as balanced by the risks to delivery.
The review process is based on an independent assessment of the risks that would normally be addressed before FID. The extent to which these risks have been addressed is determined by review of the applicable work packages and by discussions with project team members. Understanding the project risks and delivery plans underpin the next phase of the review which is to explore what ways might yet remain to improve the commercial outcomes.
CCS TLM staff have performed a number of similar reviews on integrated CCS projects. Some of these reviews were performed by the founders of CCS TLM in their earlier roles in BP and Hydrogen Energy. Others have been conducted as CCS TLM for various project owners. In all cases the clients have gained valuable insights into their projects that were not available to them until commissioning the review.