4 Types of Tender and Tendering Processes
Estimated reading time: 6 minutes An effective bid management and tender process provides a positive evaluation approach that leads not only to the appointment of appropriate suppliers but to ensure that the ongoing relationship is a mutually beneficial. A wholly balanced and highly efficient bid and tender management process improves the quality of the supply chain while reducing costs and managing risks. A tender is a submission made by a prospective supplier in response to an invitation to tender. It makes an offer for the supply of goods or services. As procurement routes have become more complex, tenders may be…
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Gas Explosion Hazards: Hazardous Areas & Potential Ignition Sources
Estimated reading time: 6 minutes Fires are the accidents that occur most frequently, their causes are very diverse and require intervention methods and fire risk assessment techniques that are unique to each situation. Electrical hazards, flammable liquids and gases and combustible dust are 3 of the most common causes of industrial fires and explosions. In the industrial setting, there are many hazards – more importantly fires, explosions and toxic releases. Fires occur the most frequently in industries and is the first major hazard in chemical or process industries. Industrial fires are highly hazardous and dangerous, and accidents lead to the…
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Advantages of Production Sharing Contracts
A PSC (Production Sharing Contract), or PSA (Production Sharing Agreement), creates a contractual relationship between an IOC (International Oil Companies) and the host country, authorising the IOC to explore for and exploit hydrocarbons in a defined area and for a defined period. By definition, a PSC is a contract between one or more investors and the host country in which rights to prospection, exploration and extraction of mineral resources from a specific area over a specified period of time are determined. In other words, a PSC is an agreement between the parties to a well and a host country regarding…
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Environmental Sustainability In Oil & Gas Industry 2019
Estimated reading time: 4 minutes The issue of environmental sustainability has always been a major concern for governments and players from the oil and gas industry worldwide. However, the increased consumer awareness of environmental, climate impacts and societal expectations pushed the industry to embrace and incorporate sustainability. Sustainability is now, the center of strategy and investment decisions, and major oil companies are investing in renewable energy. Other industry players such as natural gas producers, shippers, and consumers are increasing their focus on mitigating methane emissions. Major oil, gas, and chemicals companies are making increasingly sizable investments in companies…
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Oil & Gas Well Plug & Abandonment: Reducing Costs
Oil and gas wells that are no longer economically viable for production, or have wellbore issues that require closure, undergo a process of plugging and abandoning (P&A). Production wells that can no longer be used are plugged to prevent the oil and gas reservoir fluids from migrating uphole over time and possibly contaminating other formations and water bodies. A well is plugged by setting mechanical or cement plugs in the wellbore at specific intervals to prevent fluid flow. The plugging process usually requires a workover rig and cement pumped into the wellbore. The plugging process can take two days to…
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4 Key Skills for Global Project Managers
Estimated reading time: 5 minutes As globalisation grows today, project management in today’s world increases in complexity. The great diversity of the world’s cultures makes it impossible for any project manager, no matter how skilled and experienced, to understand fully all the cultures that may be encountered. Cultural competence is key. Some of the main reasons why you should get a certification as an international project manager include increased demand, acquire a unique set of skills and increased chances of project success. Some of the key skills needed by project managers to be internationally ready are adaptability, being culturally…
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Process Safety & Leadership: Strategies to Deliver Stakeholders ROI (With Case Studies Examples)
Estimated reading time: 5 minutes Part of process safety excellence is having a strong, committed process safety culture, starting from the top. It is one of the most important tasks of leaders in the processing industries — to set a culture and guide an organization to hold process safety as important as profit margins and return on investment. Every aspect of the organization must include process safety principles and tools to minimise the poor impacts on workers, communities, and the environment. Development and implementation of robust Process Safety Management (PSM) systems is a primary focus for leading companies in…
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5 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 a harmonious business relationship between shipowners and charterers, it is desirable to avoid disputes on charter parties. Therefore, the establishment of a clear and solid contractual basis on laytime calculations and demurrage rules for all parties is one of the utmost importance. A firm understanding…
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Best Practices for Commissioning Offshore Projects
Estimated reading time: 5 minutes Commissioning of mega offshore projects, whether it is an FPSO, a GBS, a steel jacket or other concepts, is a large and complex undertaking which all too often do not receive enough management focus at the early stages of the project. For example, providing enough upfront quality planning (front end loading) and preparations in place, and making sure practical risk assessments are viewed as a continuous activity throughout the project. Focusing on controlling critical success factors helps to successfully deliver on the commissioning plan. Successful capital project investment depends on successful project commissioning and…
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3 Tips & Crisis Management Case Studies
Estimated reading time: 4 minutes Crisis management is an important skill all leaders and spokesperson need to have. While minor situations arise regularly in the course of business, larger scale issues can end careers and destroy entire organisations if handled incorrectly. A communication crisis today comes in many forms, from a data breach to false accusations, but all require a strategic response strategy to handle the crisis. Organisations need to have a media crisis management strategy in place to control the crisis as quickly as possible. When handled properly, it can limit the negative consequences the organisation faces in…
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