A formal business arrangement where two or more companies partner to pursue a specific project or contract, which can affect subcontractors by changing who issues purchase orders, approves invoices, or holds liability on site. Field service companies should confirm early which JV partner is the contracting entity to avoid payment delays or scope disputes.
JV (Joint Venture)
Related Terms
Geothermal Well Testing
IndustryA process used to measure heat output, flow rates, and pressure in geothermal wells. Subcontractors provide specialised testing equipment, instrumentation crews, and data logging services. Work often involves high-temperature conditions requiring specific safety protocols and certified equipment.
Capital Program
IndustryA planned set of major construction or infrastructure projects approved by an owner or operator for a defined period. For subcontractors, it signals sustained work volumes and long-term contracting opportunities. Aligning your capacity with a client's capital program can anchor your pipeline for months or years.
ROV (Remotely Operated Vehicle)
IndustryAn unmanned, tethered underwater robot used to inspect, survey, or perform work on subsea pipelines, wellheads, and structures — subcontractors providing ROV services typically require specialised operators and vessels, and should account for mobilisation costs and standby rates when bidding these scopes.
Mud Reclaimer
IndustryA piece of solids-control equipment that separates reusable drilling fluid from cuttings on the rig site. Subcontractors operating or maintaining this unit help reduce fluid disposal costs and waste volumes. It is commonly found in directional drilling and HDD (Horizontal Directional Drilling) scopes.
Core Desorption
IndustryA lab process where gas is measured as it releases from rock core samples pulled during drilling. Subcontractors handling or transporting cores must follow strict protocols to preserve sample integrity. Mishandling can compromise data and trigger costly disputes with operators.
Feedstock
IndustryRaw material fed into a processing facility, such as crude oil, bitumen, or natural gas. Subcontractors often support feedstock handling through pipeline work, tank maintenance, and material transfer operations.
Latest Industry News
Eni and PETRONAS Launch Searah JV Across Malaysia and Indonesia
Eni and PETRONAS have named their new Southeast Asia upstream joint venture Searah, combining assets across Malaysia and Indonesia under a unified operational framework. Subcontractors with offshore and drilling expertise may find new opportunities as the JV ramps up.
6 months agoIndustryGranite JV Lands $325M Big Creek Sewer Tunnel in Cleveland
Granite Construction and Super Excavators will build the $324.8 million Big Creek Tunnel for NEORSD, a 20-foot-diameter rock tunnel with shafts, diversion structures and utility work. Construction starts fall 2026.
5 days agoIndustryCandu-Aecon JV Lands $1.7B Deal for Pickering Unit 5 Refurbishment
A Candu Energy-Aecon joint venture signed a $1.7-billion, three-year contract with Ontario Power Generation to refurbish Unit 5 at the Pickering Nuclear Generating Station, with similar work planned for three more units.
16 days agoIndustryMortenson-McCownGordon JV Lands $1.9B Kansas City Royals Ballpark
A Mortenson and McCownGordon Construction joint venture will build the Kansas City Royals' $1.9 billion downtown ballpark, with groundbreaking targeted for May 2027 and completion by opening day 2030.
20 days agoRelated Guides
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Rig counts are the earliest signal of where field service work is heading. Learn how to read drilling activity trends, anticipate demand shifts, and position your crew before the phone stops ringing.
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An AFE (Authorization for Expenditure) controls every dollar spent on an oilfield project. Learn how it affects your billing, change orders, and cash flow as a subcontractor.
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