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Managing EPC Contracts in the Energy Sector
12th December 2022 - 14th December 2022
One event on 12th December 2022 at 12:00 am
One event on 8th March 2023 at 12:00 am
Why Choose this Training Course
As the Energy industry matures; competition has intensified as organisations seek different ways in which to achieve a sustainable competitive advantage. One response to this has been to adopt a form of ‘risk transfer’ via outsourcing to make another party the ‘bearer’ of risk – i.e. appointing a contractor company that offers a ‘one-stop shop’ solution – to undertake the whole scope of a project by being the main contractor and subsequently managing the entire range of sub-contractor agreements to ensure that the deliverable in question is met in its entirety for the client / end user. These types of contract are often referred to as EPC (Engineering; Procurement and Construction contracts), whilst another common name for them is ‘Turnkey’ contracts. If the contract can be executed successfully, the contractor stands to benefit, whilst if there are problems and delays, it is the contractor who may find themselves liable for bearing these costs.
Unfortunately, given the scale and scope of this species of commercial contract, there is a great likelihood that most of the ambit of contractual misfortune in terms of breach; delay; quality issues; HSE compliance and local content issues (to name but a few) will manifest at some point during the project’s lifetime. This EPC contracts training course will furnish delegates with a thorough understanding of the key components and their interactions of an EPC contract and will address issues relative to dispute resolution. Focus is on open dialogue and collective problem solving relative to case examples and class exercises. This EPC contracts training course has been designed to provide an immersive, value adding experience to delegates who attend.
Who Should Attend
- Contract personnel/managers / administrators
- Procurement departments
- Individuals involved in managing project inventories
- Individuals engaged within risk management
- Team leaders
- Anyone else wanting to learn more about EPC contracts
Key Learning Objectives
- Become familiar with the importance of scoping an EPC project correctly both from the client / end user perspective and the contractor.
- Have awareness of the key features and contractual provisions of an EPC contract.
Have a greater understanding of the dynamic nature of contractual provisions and some of the consequences that arise as a result of them within the commercial world.
- Understand how an EPC contract is structured.
- Grasp the fundamentally important aspects of managing risk in an EPC contract.
- Become familiar with key procurement aspects associated with EPC contracts and projects.
- Be competent in supplier selection and evaluation.
- Know what to focus on for managing the commercial performance of an EPC contract.
- Understand the importance of project change orders and how to efficiently manage change.
- Be competent in managing critical interfaces in power projects such as access to grid; fuel specifications and the commissioning regime.
- Understand the requirements and importance for EPC projects efficiency of critical (long) lead items and their impacts, both positive and potentially negative.