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Types of Joint Ventures: Incorporated and Unincorporated

Estimated reading time: 5 minutes   In the oil and gas and petroleum sector, international joint ventures are very common. A joint venture is an alliance in which two or more companies, individuals or organizations operate jointly owned properties. Most companies are willing to take partners for large-scale investments in high-risk oil and gas ventures for…

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Notice of Readiness for Laytime Calculation (With Real-Life Case Study Example)

Estimated reading time: 5 minutes   Laytime and demurrage are one of the most litigious issues in shipping. The terms in the contracts are tricky as it is commonplace that shipowners and charterers face delays in ports, leading to demurrage charges to be incurred. The vague wording in the charter party contracts also provide lots…

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Effective Incident Investigation and Reporting

Estimated reading time: 4 minutes   All incidents, regardless of size or impact, need to be investigated. Whether it is a fatality, injury, illness or a close call, an effective incident investigation and report process helps employers understand what happened and why it happened. It presents an opportunity to identify operational hazards and shortcomings in…

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Implementing a Successful Well Integrity Management System

Estimated reading time: 5 minutes     Developing and implementing well integrity management systems has been on the rise for the oil and gas industry worldwide. During the periods of high demand, oil and gas fields were developed rapidly. Wells were drilled and put online in a short time as drilling days, footage and direct…

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2019 Statistics for the API 936 Certification Program

Estimated reading time: 4 minutes   Refractory materials and lining reliability are key to increasing the performance of fired heaters, incinerators, kilns and reactors across a range of industries. The proper refractory lining optimises production yield and minimises energy costs, while enabling consistent high performance of a furnace over the lifecycle of the refractory lining…

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4 Phases of Plant Shutdowns

Estimated reading time: 4 minutes   Plant shutdown and start-up is an important aspect of plant maintenance that helps improve the life expectancy of assets. Effective planning and execution of shutdowns and turnarounds is essential to maintain inventory levels and reduce loss of revenue for the oil and gas industry, particularly if improper maintenance leads…

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Latest Developments in Safety Case Regime Singapore

Estimated reading time: 4 minutes   In 2017, the Ministry of Manpower (MOM) first announced the Workplace Safety and Health (Major Hazard Installations) Regulations. This requires all MHIs to develop and submit their respective Safety Case, in accordance to the regulations. MHIs are required to prepare Safety Case reports and present all risk reduction measures in place…

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How to Improve Corporate Communication Skills

Estimated reading time: 5 minutes The increasing importance of corporate communication underscores the need for organisations to be strategic when communicating. According to this Towers Watson study, companies with highly effective communication practices enjoy 47% higher total returns to shareholders compared to organizations with poor communication. Improved communication doesn’t only affect your returns to shareholders, it can…

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What Is Reservoir Characterisation?

Estimated reading time: 5 minutes   Robust reserves and simulation are achieved by the logical, systematic integration of all relevant data. A quality reservoir interpretation is extremely cost-effective compared with data acquisition or development mistakes and essential with today’s complex reservoirs and data sets. Proper integration replaces the need to run expensive, irrelevant logs, explains…

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Guide to Understanding Drilling Contracts: What Is A Day Work Contract?

Estimated reading time: 7 minutes     The upstream or E&P segment of the international oil and gas industry, is in all probability, the riskiest in terms of capital intensity, long payback periods, technological dependence and a host of legal and environmental compliance requirements. It is commonplace for entities seeking hydrocarbon reserves to offset this…

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