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Industry Glossary Term

Maintenance Capital

Funds spent to keep existing equipment and infrastructure operational rather than expanding capacity. For subcontractors, client maintenance capital budgets directly drive demand for inspection, repair, and servicing contracts. Tighter maintenance capital spending often signals reduced field work volumes ahead.

Related Terms

Pjm (pennsylvania-New Jersey-Maryland) Interconnection Queue

Industry

A waiting list managed by PJM for new power generation and transmission projects seeking grid connection approval. Subcontractors use it to track upcoming infrastructure builds and time their bids accordingly. Long queue backlogs signal sustained field work demand in the PJM service territory.

ROV (Remotely Operated Vehicle)

Industry

An 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.

COR (Certificate of Recognition)

Industry

A voluntary safety certification program in Canada that recognizes employers who have developed health and safety management systems that meet established standards. Required by many operators in Alberta and Western Canada.

HRSG (Heat Recovery Steam Generator)

Industry

A large boiler unit that captures exhaust heat from gas turbines to produce steam for power generation. Subcontractors are commonly engaged for HRSG installation, maintenance, and inspection scopes. Work typically requires certified welders, boilermakers, and compliance with pressure vessel regulations.

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.

Midstream

Industry

The segment of the oil and gas industry involved in processing, storing, and transporting oil, gas, and NGLs. Includes pipelines, gathering systems, and processing plants.

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