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Industry Glossary Term

JIP (Joint-industry Project)

A cost-sharing initiative where multiple operators or companies fund research, technology development, or industry challenges together. For subcontractors, JIPs can open doors to new contracts, but procurement processes are often slow and heavily governed. Understanding which operators are involved helps you identify who holds the real budget authority.

Related Terms

Dry Gas

Industry

Natural gas composed almost entirely of methane, with minimal liquid hydrocarbons. Subcontractors working dry gas sites face simpler handling requirements but often leaner margins than wet gas projects. Expect lighter equipment specs and fewer fluid management scopes.

ISNetworld

Industry

A contractor management platform used by operators to verify that subcontractors meet safety, insurance, and compliance requirements before being allowed to work on sites. Maintaining ISNetworld compliance is essential for subcontractors working with major operators.

PMC (Project Management Contractor)

Industry

A PMC is the company hired by an owner to oversee and manage an entire project on their behalf. As a subcontractor, the PMC is typically your primary point of contact for approvals, invoicing, and scope direction. They control schedule and budget, so understanding their reporting requirements is essential for getting paid on time.

Refined Products Pipeline

Industry

A pipeline system that transports processed petroleum products — such as gasoline, diesel, and jet fuel — from refineries to distribution terminals. Subcontractors are commonly mobilised for inspection, maintenance, and integrity work on these lines. Strict product contamination and safety protocols apply, requiring up-to-date certifications.

TOFD (Time-of-flight Diffraction)

Industry

An ultrasonic weld inspection method used to detect and size internal flaws in pipelines and pressure vessels. Subcontractors performing NDT work must hold TOFD-specific certifications to qualify for this scope. It is widely accepted by regulators as an alternative to radiographic testing.

BOEPD (Barrels of Oil Equivalent Per Day)

Industry

A standardised measure combining oil, gas, and NGL output into a single daily production figure. Operators use it to size contracts and scope field service requirements. Higher BOEPD targets typically mean more crews, equipment, and sustained subcontractor workload.

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