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joint ventures agreement oil gas

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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Understanding Contractor Costing in EPC Contracts

Estimated reading time: 4 minutes     As global demand for power generation continues to grow, there is a growing shift in both the pricing and costing methodologies employed by turnkey contractors. This is largely due to the client or owner wishing to ensure that all (or most) of the risk exposure is to be…

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Fraud

Estimated reading time: 3 minutes     Combating procurement fraud is vital due to the disastrous impacts’ procurement fraud brings. In Southeast Asia, procurement fraud costs US$140billion each year. Nearly all organisations will have been victims of procurement fraud and the consequences can be much greater than the value of the fraud. The most common types of…

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EPC Contracts

Estimated reading time: 2 minutes   The private sector is learning more towards more Engineering, Procurement and Construction (EPC) contracts when taking on large scale infrastructure projects. In every project, it is necessary to have good contract management in place; otherwise it can have negative consequences for all stakeholders involved. It will also affect the…

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