Crude Oil Storage Tank Construction Cost

While floating roof tank is the optimum selection for storing larger quantities of crude oil.

Crude oil storage tank construction cost. Oil futures plunged to their lowest level in history as demand for crude continues to plummet and u s. Lamberson international construction consulting llc all costs in us based on usgc 4q 2013 description base materials cost mto allowance cut waste allowance design allowance total material cost subcontract costs fabricate installation cost subtotal cost contingency total cost tank farm and storage terminal cost. A 60 million project to add about 7 million barrels of new crude oil storage capacity at cushing was announced tuesday by houston based plains resources inc an oil and gas company formerly headquartered in oklahoma city plains president patrick collins said construction of the facility to include about 59 above ground crude storage tanks with capacities ranging from about 100 000 to 250 000 barrels should begin near the end of the year collins said he expects the first tanks to be ready. 550 285 000 total capex for tank faarm 61 14 per barrel 512 77 per m3 a 5 discount rate plus a 4 operating rate translates to pe.

Storage capacity 750 000 barrels 89 430 m3 x12 9 000 000 barrels 1 073 160 m3 170 472 000 tanks alone. Storage tanks fill up despite a landmark deal between opec and its allies to cut global.