Case Study: Phillips66 achieves faster decision-making and major cost savings with Aspen Technology's Aspen Capital Cost Estimator

Global Refinery Deploys Cost Estimation Solution to Accelerate Decision Making and Lower Costs

Phillips66, a leading integrated refiner operating 12 refineries in the U.S. and Canada with a throughput of 2.6 million barrels per day, needed to deliver accurate capital cost estimates with fewer staff to support a $1.4B downstream investment program and accelerate project decision making. To meet that challenge, Phillips66 adopted Aspen Capital Cost Estimator from Aspen Technology to standardize estimating processes and provide earlier decision support.

Aspen Technology implemented a systematic, statistics-driven estimating solution with a shared database and workflows that extended to E&C bidders, moving business decisions forward to the FEL 2 stage. As a result, Phillips66 increased estimator productivity from $30M estimated/day to $80M/day in two years, reduced estimate variability from 35% to 12% and cost variability to under 15%, brought overruns to near zero, and aggressively completed $1.4B in capital projects while keeping the same staff levels.

Phillips66

Jim Whiteside

Phillips66