Contracts Sub-committee

The objective of the Contracts Sub-committee is to:

• Provide guidance to the WSCA Board on all Contracts matters where collective action is beneficial to the Well Services sector, without breach of Anti-Competitiveness guidelines

Activity

The Contracts Sub-committee has been very active, in conjunction with the Legal Sub-committee in the redrafting of the LOGIC/CRINE  Standard Well Services Contract and the associated Guidance notes.  The standard contract is of benefit to the whole Well Services sector through standardisation  and simplification of contractual arrangements between Well Service Contractors and Operators, Operator's other contractors and Third Parties.

The Contracts and Legal groups have also, in conjunction, with other interested parties developed the Industry Mutual Hold Harmless Agreement which has the benefit of giving mutual indemnification thereby reducing cost across the Industry through clearer definition of the risks that the Contractor has to cover . (See IMHH website www.imhh.com for further information.)

The Contracts Group is currently working on a draft of a Standard Subcontract (short form) and standardised agreements between Well Services Contractors for supply and purchase of equipment and services between them.

 

Further information:   Contact  Zeina Sawaya of Schlumberger (e-mail: zsawaya@aberdeen.oilfield.slb.com)