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
Energy Transition
IndustryThe global shift from fossil fuels toward renewables, hydrogen, and lower-emission energy sources. For subcontractors, it means new project types, updated certification requirements, and evolving client scopes. Diversifying skills into solar, wind, or carbon capture work helps firms stay competitive.
Heavy Crude
IndustryOil with high viscosity and density, requiring specialised handling equipment and heat-assisted extraction methods. Field crews working heavy crude sites often face more demanding maintenance schedules and equipment wear. Subcontractors should factor in higher mobilisation and operational costs when tendering these projects.
Carbon Dioxide Treater
IndustryA vessel or system used on oil and gas sites to remove CO2 (Carbon Dioxide) from produced gas or water streams. Subcontractors are often hired to install, service, and inspect these units. Proper handling requires H2S and pressure safety training.
Unconsolidated Formation
IndustryLoose, weakly bonded subsurface material — such as sand, gravel, or soft clay — that hasn't hardened into solid rock. These formations create unstable borehole conditions, increasing risk of collapse and equipment loss. Subcontractors drilling or excavating in these zones often face additional scope, specialised equipment requirements, and potential cost disputes.
TVD (True Vertical Depth)
IndustryThe straight-line vertical distance from surface to a specific point in a wellbore, regardless of how the well is drilled — subcontractors working on directional or horizontal wells need to reference TVD (not measured depth) when scoping equipment reach, calculating hydrostatic pressures, or verifying work zone depths on service orders.
NGL (Natural Gas Liquids)
IndustryHydrocarbons extracted from natural gas, including propane, butane, and condensate. NGL facilities and pipelines generate steady subcontract work in processing, instrumentation, and maintenance. Understanding NGL handling requirements helps crews meet site-specific safety and equipment standards.
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.
3 months ago IndustryWalsh-Soletanche JV Breaks Ground on $669M Delaware Container Terminal
Early construction has begun on a $669 million container terminal expansion at the Port of Wilmington, with state lawmakers approving an additional $110 million to cover cost increases tied to inflation, scope changes, and tariffs.
5 days ago IndustryGilbane-Turner JV Delivers $2.1B Highmark Stadium After Nearly 5 Million Labor Hours
A Gilbane-Turner joint venture handed off the completed $2.1 billion Highmark Stadium to the Buffalo Bills, capping a three-year build that drew nearly 6,000 craft workers and logged close to 5 million labor hours.
9 days ago IndustryJacobs-McCarthy JV Breaks Ground on $185M Torrance Groundwater Desalter Expansion
A joint venture of Jacobs and McCarthy Building Cos. has started construction on the $185 million Torrance Groundwater Desalter expansion in Southern California, with substantial completion targeted for October 2028.
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