Get access to industry-leading cost escalation data for operating and construction cost factors, including equipment by class, fuel, labor, and raw materials, with the Nelson-Farrar Cost Index, maintained and operated by BakerRisk.
The Nelson-Farrar Cost Index (NFCI) is one of the longest-running cost indices specific to the Oil and Petrochemical industry. Created in the 1940s, The NFCI was originally developed by Dr. W. L. Nelson and Dr. Gerald L. Farrar. From the 1970s until 2017, the Oil & Gas Journal (OGJ) published the indices monthly, with quarterly summaries featured in the January, April, July, and October issues.
Industry estimators, project planners, project managers, and appraisers can use the NFCI Construction Cost Index data to develop reliable estimates for current or future project costs.
Operating company risk managers, insurance underwriters, and brokers can use the NFCI data to determine rebuild costs and to be sure that the reported Replacement Cost Values are properly adjusted over time without relying on costly insurance appraisals.
Updates of the NFCI Construction Cost and Operating Cost indices are provided monthly to subscribers. More detailed breakdowns by asset class, cost of raw materials, and labor elements are produced and issued quarterly.
Changes are coming and BakerRisk will be offering access to NFCI reports using a new on-demand web portal.
BakerRisk also maintains a historical archive of past reports for prior years dating back to 2004 and can provide historical data as requested.
Please allow up to 10 business days to process your subscription request.
For more information on NFCI, or to inquire about purchasing historical reports, please contact us at NelsonFarrarInfo@BakerRisk.com