The industry body for the UK’s oil and gas sector has launched a new version of its supplies contract as it looks to help firms reduce the time and cost of securing supply chain deals.
The Standard Contract for Services marks the first in a series of updated documents from Oil and Gas UK which is being made available for firms.
The document is aimed at covering a variety of services along the oil and gas supply chain, and comes following advice from operators and contractors.
“While there was significant investment in the UK Continental Shelf in 2013, the industry continues to face challenges on many fronts, including rising costs and the need to improve capital efficiency,” said operations manager Ken Cruickshank.
“In these circumstances, it is vital to maintain competitiveness and we want to champion collaborative, industry-wide tools such as standard contracts, to help the supply chain become more cost effective and efficient.
The group aims to update standard contracts for a range of services, including rigs and well services, following the last update a decade ago.
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