Elevate your Cost Estimating Capabilities with Que$tor
WHAT IS QUE$TOR?
At Rimkus, we specialise in delivering predictable and robust estimates for the construction and insurance sectors. Utilising a variety of proven methodologies and techniques, we operate in a no-surprise environment, ensuring accuracy from the initial conceptual or Rough Order of Magnitude (ROM) estimates to the delivery of complete, detailed cost evaluations.
S&P Global Que$tor Estimating Tool is your go-to solution for precise, full lifecycle project cost estimation. This tool leverages relevant technical data and is driven by automated engineering calculations, ensuring accuracy through comprehensive scope definition, timeline generation, benchmarking capabilities, and more. As a renowned leader in expenditure modelling, Rimkus utilises Que$tor to transform your approach to project development, project planning, concept selection, decision-making, research, and analysis. It accounts for regional variances in productivity and pricing, supported by robust live market intelligence. Que$tor not only forecasts project efficiency, sustainability, and cost with reliability but also offers significant savings by eliminating the need for external design and engineering services and outdated estimation methods.
Que$tor provides exhaustive cost estimation across various scopes from floating structures like spars, semis, and tankers, to gravity-based structures and wind farms. Our expertise spans the entire energy spectrum covering Liquified Natural Gas (LNG) terminals, offshore pipelines, and intricate subsea architectures such as wells and fiber optics. For onshore and midstream sectors, we assess upstream oil and gas fields, processing plants, and logistics involving Natural Gas Liquid (NGL) and Liquefied Petroleum Gas (LPG). Additionally, Que$tor's capabilities extend to the critical areas of power generation and transmission.
WHY CHOOSE QUE$TOR?
Developed in 1989, licensed from S&P Global, Que$tor is a leading tool in lifecycle cost estimation and project development for the oil and gas industry, with applications ranging from conceptual cost estimation through to estimate quality assurance and conditioning. The tool is currently used by more than 2,500 users in 50+ countries, spanning over 200 companies.
Que$tor continually adds new functionality as the industry changes, operating on real-time offshore and onshore market intelligence to provide live estimates by region in today’s dollars. The tool draws from multiple global databases, including over 200,000 commodity price data points, incorporating marketing intelligence submitted by vendors, suppliers, contractors, fabricators, publications, Que$tor subscribers, and member forums. Que$tor also constitutes a self-engineering tool, which sizes facilities based on certain parameters (for example, throughput capacity).
With Que$tor, Rimkus can provide the following services to a range of clients such as project developers, insurers, and adjusters:
Screen concepts and options for repairs, upgrades, and maintenance.
Generate greenfield new build cost estimates, including total project execution costs.
Identify asset damage and component costs using an onshore/offshore brownfield estimate methodology.
Generate initial cash flow forecasts based on scope, pricing, timelines, and contracting strategies.
Estimate, monitor, and assess costs tailored towards project developments, with options to review, adjust, and exclude specific elements.
Provide additional data sets that can be used to evaluate supplier and contractor pricing.
Inform project economic assessments through delivery of robust capex, opex, and timeline estimates.
Evaluate incidents or losses using tailored methodologies based on severity, value, complexity, and quality of documentation and information available.
Differentiate regional costs through up-to-date databases of typical cost norms based on current data.
Derive full asset valuations that can be used for insurance underwriting or company valuations.
WE CAN UNLOCK YOUR FULL POTENTIAL WITH QUE$TOR
Que$tor is designed to save clients significant time and cost, eliminating the need to conduct extensive engineering, design, and procurement activities while yielding the most accurate results based on current industry developments. It offers clients a variety of benefits, strengthening your approach to cost estimation at every stage of project development:
Que$tor streamlines the valuation process by automating complex engineering calculations using pre-built templates for each type of asset. This framework removes the need to seek external pricing or undertake manual calculations compared to spreadsheet-based approaches.
Rimkus can leverage historical cost data and industry-specific benchmarks, assuring correct cost estimations and eliminating the need to escalate or inflate estimates.
Que$tor serves as a comprehensive database of “live” project specifications and quality data, offering realistic construction estimates and timelines, including current long lead durations, to support the asset valuation process.
Asset valuation can involve numerous variables and uncertainties. Using Que$tor, Rimkus enables insurers to perform precise scenario analyses, assessing the impact of different assumptions and market conditions on the asset’s value or replacement cost.
QUE$TOR CASE STUDIES
LNG TERMINAL
⚲ SURINAME, SOUTH AMERICA
Rimkus utilised Que$tor to support client conceptual decision-making based on location, technical input, and local construction pricing embedded in the tool. Many options were screened with a final option selected and matured in terms of cost and timeline generated from Que$tor. Que$tor also provided opex data to support project economic assessments.
OIL TANK FARM
⚲ LOUISIANA, NORTH AMERICA
A lightning strike destroyed a 200,000 barrel naptha storage tank. In the aftermath of this incident, the refinery engaged Rimkus to provide an estimated range of costs for the demolition and rebuilding of the tank. Rimkus utilised its expertise and the Que$tor estimating software to develop a comprehensive cost estimate based on the limited information available at the time.
ONSHORE WIND FARM
⚲ PENNSYLVANIA, NORTH AMERICA
After the facility suffered a complete loss of a wind turbine, Rimkus utilised its Que$tor cost estimating software to efficiently quantify the scope, which included demolition of the damaged equipment and purchase and installation of a new GWT-2.0-87 wind turbine. The Que$tor-generated replacement cost estimate ultimately came within $50,000 of the settled claim value, demonstrating the accuracy and value of the software in estimating complex losses. By leveraging Que$tor, Rimkus delivered a reliable, defensible replacement cost on an accelerated timeline.
OIL REFINERY
⚲ LOUISIANA, NORTH AMERICA
A fire damaged four tanks at an oil refinery in Louisiana. Rimkus was engaged to estimate the reinstatement costs and timeline. Rimkus utilised its Que$tor cost estimating tool to develop an independent estimate for reinstating the damaged tanks and applied Que$tor benchmark data to estimate costs for engineering, procurement, construction, owner’s costs, and contingency. Rimkus also compared the Que$tor estimate to the EPC contractor’s bid and the client’s internal estimate to validate reasonableness.
MAJOR WIND DEVELOPER
⚲ NORTH AMERICA
Using high-level data available in the public domain, Rimkus provided conceptual cost estimates using Que$tor allowing our client to compare the economic viability of different project configurations, understand the impact of WTG size and project phasing on capex and opex, evaluate the cost differences between fixed and floating foundation options, and therefore make informed decisions regarding project design, investment and potential returns.
LNG FACILITY
⚲ TEXAS, NORTH AMERICA
Following a catastrophic explosion and fire that caused significant damage to an LNG processing facility in Texas, Rimkus was engaged to estimate the reinstatement costs and timeline to support BI and PD claims. The insured provided a proposed reconstruction schedule from its reinstatement team and selected EPC contractor. Rimkus used the Que$tor schedule benchmarks to validate the durations proposed by the contractor and assist the insured in measuring contractor performance and progress over the year-long reconstruction effort. This enabled insurers to have the most accurate data to negotiate a billion-dollar settlement.
BIODIESEL FACILITY
⚲ LOUISIANA, NORTH AMERICA
Following a fire that caused significant damage to a biodiesel facility in 2016, Rimkus supported a litigious claim from the insured relating to property damage and business interruption. Rimkus modelled the facility in Que$tor with outputs used to inform theoretical reinstatement timelines using many factors including regional specific productivity data retained within the database. The Rimkus expert report detailing these estimates was a key document and opinion used to settle the case out of court.
LNG PROCESSING FACILITY
⚲ HAMMERFEST, NORWAY
Rimkus was engaged to estimate the reinstatement timeline and costs to support property damage and business interruption claims following a substantial explosion and fire that caused significant damage to an LNG processing facility in Hammerfest, Norway. The insured’s reinstatement team and selected EPC contractor provided proposed reconstruction schedules. To validate the durations proposed by the contractor and assist both the insurance market and the insured in validating contractor proposed timelines and performance during critical elements of the reinstatement period, Rimkus utilised the Que$tor schedule benchmarks. This enabled insurers to negotiate a multi-million-dollar settlement with the most accurate data.
OIL REFINERY
⚲ POLAND
Rimkus was responsible for the generation of theoretical reinstatement timelines following a major loss at an oil refinery in Poland. The insured’s selected EPC contractor provided proposed schedules, but there were significant gaps, particularly in the procurement section. Rimkus utilised Que$tor to bridge these gaps and create comprehensive timelines by leveraging its extensive database of industry benchmarks. Que$tor’s outputs informed the development of complete reinstatement schedules, allowing Rimkus to estimate the duration of the reconstruction effort accurately.
VARIOUS ASSET VALUATIONS
Following concerns in the insurance market that many facilities and assets are currently undervalued, Rimkus has used Que$tor to develop multiple asset valuations that inform insurers of likely replacement values across oil and gas, midstream, refining, and offshore wind sectors. Que$tor provides both replacement cost and likely reinstatement durations that insurers can use to inform policies during underwriting.
Contact Us
Consultants. Experts. Innovators.™
Rimkus Corporate Headquarters
12140 Wickchester Lane, Suite 300 Houston, Texas 77079
P: +1 713 621 3550 E: expert@rimkus.com
Operating from more than 100 offices, the Rimkus team of expert consultants assists clients with complex matters worldwide
