Introduction
A Feasibility Study is a structured evaluation conducted at the early stage of a project to determine the technical, operational, and safety viability of a proposed development or modification.
In the Oil & Gas industry, it integrates engineering concepts, process safety considerations, and operational constraints to assess whether a project can be safely and efficiently implemented before proceeding to detailed design.
Purpose
– Evaluate the technical feasibility of proposed concepts or design options
– Identify key risks, constraints, and opportunities at an early stage
– Assess safety, operability, and environmental considerations
– Compare alternative options to support informed decision-making
– Define preliminary design basis and project scope
– Support investment decisions and project planning
Outcomes
– Assessment of viable design options with comparative analysis
– Identification of key risks and constraints (technical, safety, environmental)
– Preliminary process and safety considerations integrated into concept selection
– High-level cost and schedule insights (where applicable)
– Recommendations for preferred concept or development pathway
– Improved confidence for decision-makers and stakeholders
– Structured Feasibility Study report supporting project approval and next phases
