Posts Tagged ‘contract management’
Effective Contract Management
Why Choose this Training Course This is a 3-day training course. Theodore Roosevelt famously said, “Risk is like fire: If controlled, it will help you; if uncontrolled, it will rise up and destroy you.” So, effective contract management helps to manage risk and is essential to ensure contract success and failure to do so can…
Read MoreEffective Contract Management
Why Choose this Training Course This is a 3-day training course. Theodore Roosevelt famously said, “Risk is like fire: If controlled, it will help you; if uncontrolled, it will rise up and destroy you.” So, effective contract management helps to manage risk and is essential to ensure contract success and failure to do so can…
Read MoreWhat is the Contractual Structure of EPC Contracts?
Estimated reading time: 7 minutes EPC (Engineering, Procurement and Construction) contracts is a common form of contracting agreement found in the Construction and Oil and Gas industry. The engineering and construction contractor will carry out the detailed engineering design of the project, procure all the equipment and materials necessary and lastly construct to deliver a…
Read MoreGuide 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…
Read More6 Features of Production Sharing Contracts
Estimated reading time: 5 minutes Regional Masterclass Production Sharing Contracts 2019 A PSC (Production Sharing Contract), or PSA (Production Sharing Agreement) was first introduced in Indonesia in 1960 for the agriculture sector before it was adopted for the petroleum industry. The success of the PSC was later picked up by other countries in the…
Read More6 Best Practices to Increase Supply Chain Value
Estimated reading time: 5 minutes Supply chain management (SCM) is the broad range of activities required to plan, control and execute a product’s flow, from acquiring raw materials and production through distribution to the final customer, in the most streamlined and cost-effective way possible. SCM involves the integrated planning and execution of processes to…
Read MoreTips on How to Prevent Disputes When Dealing with EPC Contracts
Estimated reading time: 5 minutes When understanding contractor costing in the international power generation industry, it involves preparing an accurate cost estimate for any project. The preparation of this is a complex process as the cost estimate is based on several key factors. For example, it involves the input of architects and engineers to…
Read More5 Tips to Minimise Unexpected Demurrage Fees
Estimated reading time: 5 minutes Laytime and demurrage are traditionally one of the most contentious issues in the shipping industry, owing to the frequency with vessels are delayed in port, the cost caused by such delays, and the often ambiguous wording in charter parties and contracts for the international sale of goods. To maintain…
Read MoreManaging EPC Contracts
Estimated reading time: 6 minutes There are several key success factors to manage EPC contracts. These types of contract are often referred to as Engineering, Procurement and Construction (EPC) contracts or Turnkey contracts. A properly drafted EPC contract ensures the contractor have limited ability to bring claims for extensions of time and additional cost. Organisations are…
Read MoreUnderstanding Production Sharing Contracts
Estimated reading time: 3 minutes Production Sharing Contracts 2019 The Production Sharing Contract is one of the most significant form of legal contracts/agreement to be found in the oil and gas industry. The purpose of any contract is to establish the rights; duties and obligations of the parties are in terms of both performance and…
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