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IndustryGlossary Term

Corrective Maintenance

Repair work performed after equipment has already failed or broken down. For subcontractors, it often means urgent mobilisation and unplanned labour costs. Scope can expand quickly, so clear change-order procedures are essential.

Related Terms

Service Company

Industry

A company that provides specialized services to oil and gas operators, such as drilling, completions, workover, transportation, or maintenance. Also called oilfield services (OFS).

PWHT (Post-weld Heat Treatment)

Industry

A controlled heating and cooling process applied to welds after completion to reduce stress and improve strength. Subcontractors must confirm PWHT requirements before mobilising, as it adds time, equipment, and certified personnel to scope. Failing to price it into your bid can significantly erode job margins.

NPRA (National Petroleum Reserve-alaska)

Industry

A large federally managed area in northwest Alaska open to oil and gas exploration and development. Subcontractors working here face extreme remote logistics, strict federal permitting, and seasonal access windows. Mobilisation costs and compliance requirements are significantly higher than conventional onshore projects.

Mobilization/Demobilization

Industry

The process of moving equipment and personnel to a job site (mobilization) and returning them afterward (demobilization). Often billed as separate line items.

EPC (Engineering, Procurement, Construction)

Industry

A project delivery model where one main contractor handles all phases from design to completion, typically creating multiple subcontracting opportunities for field service companies across different project phases. For subcontractors, EPC projects often mean working under a prime contractor who coordinates all trades and manages the overall timeline and specifications.

Dual-Class Share Structure

Industry

A corporate ownership arrangement where founders or executives hold shares with greater voting power than ordinary investors. For subcontractors, this means a client company's leadership can make major operational decisions without shareholder approval. Expect stable long-term contracts but limited outside pressure to change payment terms or procurement practices.

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