RE: IR and PR incomingToday 07:09
Looking again at costs, the $22m FEED costs are part of the Stage 1 CAPEX.
Little bit of info about the work being done now:
Front-End Engineering (FEE), or Front-End Engineering Design (FEED), is an engineering design approach used to control project expenses and thoroughly plan a project before a fix bid quote is submitted.[1] It may also be referred to as Pre-project planning (PPP), front-end loading (FEL), feasibility analysis, or early project planning.
Overview[edit]
FEED is basic engineering, which comes after the Conceptual design or Feasibility study. FEE design focuses the technical requirements as well as rough investment cost for the project. FEED can be divided into separate packages covering different portions of the project. The FEED package is used as the basis for bidding for Engineering, Procurement and Construction contracts (EPC, EPCI, etc) and is used as the design basis (or Basis of Design).
A good FEED will reflect all of the client's project-specific requirements and avoid significant changes during the execution phase. FEED contracts usually take around 1 year to complete for larger-sized projects. During the FEED phase, there is close communication between Project Owners and Operators and the Engineering Contractor to work up the project-specific requirements.