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IndustryGlossary Term

Fixed Equipment

Stationary assets such as pressure vessels, heat exchangers, and storage tanks that require scheduled inspection, maintenance, or repair. Subcontractors are often mobilised specifically to service fixed equipment during turnarounds or planned shutdowns. Scope is typically defined by inspection reports and regulatory requirements.

Related Terms

AGC (Associated General Contractors of America)

Industry

A U.S. trade association representing general contractors in construction. Subcontractors working with AGC members often encounter standardised contract templates and safety compliance expectations tied to membership. Knowing AGC standards helps subs align bids and prequalification documents with GC requirements.

WCB (Workers' Compensation Board)

Industry

Provincial agencies in Canada that provide workplace injury insurance. Contractors must maintain WCB coverage and good standing to work on most sites.

STEO (Short-term Energy Outlook)

Industry

A monthly U.S. Energy Information Administration report forecasting near-term oil, gas, and energy prices. Subcontractors use it to anticipate upstream spending trends and project demand for field services. Shifts in STEO forecasts often signal whether operators will ramp up or cut back work programmes.

Stress-Corrosion Cracking

Industry

A failure mode where metal components crack under the combined effect of tensile stress and corrosive environments. Subcontractors must inspect susceptible equipment — like pipelines, pressure vessels, and lifting gear — for early signs. Missed SCC (Stress-Corrosion Cracking) damage can trigger costly shutdowns, liability claims, or failed inspections.

Legacy Site

Industry

An older facility or work location operating on outdated infrastructure, systems, or equipment. Subcontractors often face non-standard conditions, ageing assets, and extra compliance requirements on these sites. Mobilisation and scoping costs can be higher due to undocumented or deteriorated site conditions.

Shut-In Production

Industry

A well or facility that has been temporarily halted from producing oil or gas. For subcontractors, shut-ins often mean suspended work orders and delayed invoicing. Confirm contract terms around standby rates before production stops.

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