The Nelson-Farrar Cost Index (NFCI), the primary operating and construction cost estimating benchmark in the oil and gas industry, is now owned and operated by Baker Engineering and Risk Consultants Inc. (BakerRisk®).
NFCI data has been used for decades by project planners, EPC firms, insurers, operating companies and valuation consultants to help predict construction and operating costs for oil refineries and similar facilities. Using NFCI data, users can calculate present-day costs based on known costs in the past.
BakerRisk currently provides the NFCI as an email-based subscription that includes monthly and quarterly reports with construction cost, operating cost and "costimating" indices. These indices also show component values related to major asset classes, fuel costs and labor costs. BakerRisk brings new value to the NFCI by leveraging longstanding relationships with dozens of operating companies, EPCs, insurance companies and others. This allows BakerRisk to continually review NFCI calculations against real-world cost data and make improvements as needed, ensuring accurate and precise calculations of the indices.
For more information, visit www.bakerrisk.com/nelsonfarrar or email NelsonFarrarInfo@BakerRisk.com.
