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Basis of inputs & Assumptions

"Flare gas recovery unit 105" project in MAA refinery, K

ect in MAA refinery, KNPC

ECONOMIC BENEFITS FOR THE PROJECT


"Flare gas recovery unit 105" project in MAA refinery, KNPC
Basis & Assumptions:
Following calculation sheet forms the basis for estimating the revenues from the recovered Fuel gas
Flow rate of the recovered gas
NCV of the recovered gas
Energy price (Original)
No. of hours of operation/year for FGRU
Maintenance
Manpower
Insurance
Power
Water
Inflation
Exchange rate
CER
CER rate

:
:
:
:
:
:
:
:
:
:
:
:

4000 Nm3/hr
815 BTU/SCF
8.7 US $/MM BTU
8400 hrs
5 % of the Total Installed cost
10 Person
2.0 % of the Total Installed cost
818 KWH
94 m3/hr
2.0%
0.288 USD/KD
54419
20 USD/year

DESCRIPTIONS

NORMAL

BASIS:

NM/HR
500
1,500
2,000
4,000

FLARE GAS FLOW RATE


RMP HC FLARE
FUP HC FLARE
TOTAL ACID FLARE
TOTAL FLOW RATES

2
NCV OF RECOVERED GAS

3 COST OF FUEL

CALCULATION:
1
TOTAL HEATING VALUE OF FLARE GAS

BTU/SCF

BTU/NM

815

30,424.0

US $/MM BTU

KD/MM BTU

8.700

2.506

MM BTU/HR

122

2 SAVINGS
MM US $/YEAR
MM KD/YEAR

8.894
2.561

Results:
Base case IRR

8.48%

Sensitivity case IRR


CER revenue case IRR

:
:

10.96%
11.26%

, KNPC

REMARKS

KNPC- CAPITAL PROJECT TRACKING PROCEDURE

APPENDIX I - BASE CASE ECONOMICS


"Flare gas recovery unit 105" project in MAA refinery, KNPC
Values in '000 KDs
Total Revenues

Year
2561

Total Feed Stocks


Purchased water
Purchased power
Labor
Catalyst & Chemical
Maintenance
Insurance

2010

2011

0
39
235
492
554
221

Depreciation
Total Expenses
Cash Operating Income
Taxable Income
Income Tax
After Tax Income
Operating Cash Flow

2012
640

2013
2,613

2014
2,665

2015
2,718

2016
2,772

2017
2,828

2018
2,884

2019
2,942

2020
3,001

2021
3,061

2022
3,122

2023
3,185

2024
3,248

2025
3,313

2026
3,380

2027
3,447

2028
3,516

2029
3,586

2030
3,658

2031
3,731

2032
2,855

10
59
123
138
55

40
240
502
565
221

41
245
512
576
221

42
250
522
587
221

42
255
533
599
221

43
260
543
611
221

44
265
554
623
221

45
270
565
636
221

46
276
576
649
221

47
281
588
661
221

48
287
600
675
221

49
293
612
688
221

50
298
624
702
221

51
304
636
716
221

52
311
649
730
221

53
317
662
745
221

54
323
675
760
221

55
330
689
775
221

56
336
703
791
221

57
343
717
806
221

44
262
548
617
166

385
255
255
255
255

1,568
1,045
1,045
1,045
1,045

1,595
1,070
1,070
1,070
1,070

1,622
1,096
1,096
1,096
1,096

1,650
1,122
1,122
1,122
1,122

1,679
1,149
1,149
1,149
1,149

1,708
1,177
1,177
1,177
1,177

1,738
1,204
1,204
1,204
1,204

1,768
1,233
1,233
1,233
1,233

1,799
1,262
1,262
1,262
1,262

1,830
1,292
1,292
1,292
1,292

1,863
1,322
1,322
1,322
1,322

1,896
1,353
1,353
1,353
1,353

1,929
1,384
1,384
1,384
1,384

1,963
1,416
1,416
1,416
1,416

1,998
1,449
1,449
1,449
1,449

2,034
1,483
1,483
1,483
1,483

2,070
1,517
1,517
1,517
1,517

2,107
1,552
1,552
1,552
1,552

2,144
1,587
1,587
1,587
1,587

1,637
1,217
1,217
1,217
1,217

1,045

1,070

1,096

1,122

1,149

1,177

1,204

1,233

1,262

1,292

1,322

1,353

1,384

1,416

1,449

1,483

1,517

1,552

1,587

1,217

Project Cost
Investment Capital: Capital plus Fees

11,070

Total Investment
NET Cash Flow

INPUT
Income Tax Rate
Project life(Yrs)
Crude & Products Inflation
Capex Inflation
Year of Commissioning
Capex Reference Year
First Operating Year
Salvage Value of the asset

1,670

6,500

2,900

1,670
(1,670)

6,500
(6,500)

2,900
(2,645)

IRR
0%
20
2.0%
2.0%
2012
2010
3
0

8.48%

KNPC- CAPITAL PROJECT TRACKING PROCEDURE

APPENDIX II - SENSITIVITY CASE ECONOMICS


"Flare gas recovery unit 105" project in MAA refinery, KNPC
Values in '000 KDs
Total Revenues

Year
2817

Total Feed Stocks

2010

2011

Purchased water
Purchased power
Labor
Catalyst & Chemical
Maintenance
Insurance
Depreciation
Total Expenses
Cash Operating Income
Taxable Income
Income Tax
After Tax Income
Operating Cash Flow

43
253
492
554
221

2012
704

2013
2,874

2014
2,931

2015
2,990

2016
3,050

2017
3,111

2018
3,173

2019
3,236

2020
3,301

2021
3,367

2022
3,434

2023
3,503

2024
3,573

2025
3,645

2026
3,718

2027
3,792

2028
3,868

2029
3,945

2030
4,024

2031
4,105

2032
3,140

11
63
123
138
55

44
258
502
565
221

45
263
512
576
221

45
268
522
587
221

46
274
533
599
221

47
279
543
611
221

48
285
554
623
221

49
291
565
636
221

50
296
576
649
221

51
302
588
661
221

52
308
600
675
221

53
315
612
688
221

54
321
624
702
221

55
327
636
716
221

57
334
649
730
221

58
340
662
745
221

59
347
675
760
221

60
354
689
775
221

61
361
703
791
221

62
368
717
806
221

48
282
548
617
166

391
314
314
314
314

1,590
1,284
1,284
1,284
1,284

1,617
1,314
1,314
1,314
1,314

1,645
1,345
1,345
1,345
1,345

1,673
1,376
1,376
1,376
1,376

1,702
1,408
1,408
1,408
1,408

1,732
1,441
1,441
1,441
1,441

1,762
1,474
1,474
1,474
1,474

1,793
1,508
1,508
1,508
1,508

1,824
1,543
1,543
1,543
1,543

1,856
1,578
1,578
1,578
1,578

1,889
1,614
1,614
1,614
1,614

1,923
1,651
1,651
1,651
1,651

1,957
1,688
1,688
1,688
1,688

1,991
1,726
1,726
1,726
1,726

2,027
1,765
1,765
1,765
1,765

2,063
1,805
1,805
1,805
1,805

2,100
1,846
1,846
1,846
1,846

2,137
1,887
1,887
1,887
1,887

2,175
1,929
1,929
1,929
1,929

1,661
1,479
1,479
1,479
1,479

1,284

1,314

1,345

1,376

1,408

1,441

1,474

1,508

1,543

1,578

1,614

1,651

1,688

1,726

1,765

1,805

1,846

1,887

1,929

1,479

Project Cost
Investment Capital: Capital plus Fees

11,070

Total Investment
NET Cash Flow

INPUT
Income Tax Rate
Project life(Yrs)
Crude & Products Inflation
Capex Inflation
Year of Commissioning
Capex Reference Year
First Operating Year
Salvage Value of the asset

0%
20
2.0%
2.0%
2012
2010
3
0

Energy price @ 10% higher than base case price

1,670

6,500

2,900

1,670
(1,670)

6,500
(6,500)

2,900
(2,586)

IRR

10.96%

KNPC- CAPITAL PROJECT TRACKING PROCEDURE

APPENDIX III - CER REVENUE CASE ECONOMICS


"Flare gas recovery unit 105" project in MAA refinery, KNPC
Values in '000 KDs
Year
Total Revenues

2010

2011

2561

Total Feed Stocks

Purchased water
Purchased power
Labor
Catalyst & Chemical
Maintenance
Insurance
Depreciation
Total Expenses
Cash Operating Income
CER revenue
Taxable Income
Income Tax
After Tax Income
Operating Cash Flow

39
235
492
554
221

2012
640

2013
2,613

2014
2,665

2015
2,718

2016
2,772

2017
2,828

2018
2,884

2019
2,942

2020
3,001

2021
3,061

2022
3,122

2023
3,185

2024
3,248

2025
3,313

2026
3,380

2027
3,447

2028
3,516

2029
3,586

2030
3,658

2031
3,731

2032
2,854.5

40
240
502
565
221

41
245
512
576
221

42
250
522
587
221

42
255
533
599
221

43
260
543
611
221

44
265
554
623
221

45
270
565
636
221

46
276
576
649
221

47
281
588
661
221

48
287
600
675
221

49
293
612
688
221

50
298
624
702
221

51
304
636
716
221

52
311
649
730
221

53
317
662
745
221

54
323
675
760
221

55
330
689
775
221

56
336
703
791
221

57
343
717
806
221

44
262
548
617
166

1,568
1,045
313
1,045
1,045
1,358

1,595
1,070
313
1,070
1,070
1,384

1,622
1,096
313
1,096
1,096
1,409

1,650
1,122
313
1,122
1,122
1,436

1,679
1,149
313
1,149
1,149
1,463

1,708
1,177
313
1,177
1,177
1,490

1,738
1,204
313
1,204
1,204
1,518

1,768
1,233
313
1,233
1,233
1,546

1,799
1,262
313
1,262
1,262
1,576

1,830
1,292
313
1,292
1,292
1,605

1,863
1,322
313
1,322
1,322
1,635

1,896
1,353
313
1,353
1,353
1,666

1,929
1,384
313
1,384
1,384
1,698

1,963
1,416
313
1,416
1,416
1,730

1,998
1,449
313
1,449
1,449
1,763

2,034
1,483
313
1,483
1,483
1,796

2,070
1,517
313
1,517
1,517
1,830

2,107
1,552
313
1,552
1,552
1,865

2,144
1,587
313
1,587
1,587
1,900

1,637
1,217
313
1,217
1,217
1,531

1,358

1,384

1,409

1,436

1,463

1,490

1,518

1,546

1,576

1,605

1,635

1,666

1,698

1,730

1,763

1,796

1,830

1,865

1,900

1,531

10
59
123
138
55
385
255
255
255
255

Project Cost
Investment Capital: Capital plus Fees

11,070

Total Investment
NET Cash Flow

INPUT
Income Tax Rate
Project life(Yrs)
Crude & Products Inflation
Capex Inflation
Year of Commissioning
Capex Reference Year
First Operating Year
Salvage Value of the asset

1,670

6,500

2,900

1,670
(1,670)

6,500
(6,500)

2,900
(2,645)

IRR
0%
20
2.0%
2.0%
2012
2010
3
0

11.26%

"Flare gas recovery unit 105" project in MAA refinery, KNPC


UTILITIES,MANPOWER AND MAINENTANCE COST

Sr No

Description

Utility Consumptions

Utility Rate
Measurement
Unit

Values

Annual Utility Costs


US $ per year
KD'000 per year

Measurement
Unit

Quantity

KWH/Hr

818

$/KWH

0.119

817,182

235

136,001

39

Power

Sea Water

M/Hr

94

$/MIG

0.783

Manpower

Person

10

KD/Month

4100

492

Maintenance

(% of Capital Cost)

5.0

MMKD/Year

11.070

554

Insurance

(% of Capital Cost)

2.0

MMKD/Year

11.070

221