An alliance of oil-producing nations that controls global crude output levels. Their production decisions directly affect upstream activity and subcontractor demand. When OPEC+ cuts output, drilling and field service work typically slows; increases often trigger new project mobilisations.
Opec+ (organisation of the Petroleum Exporting Countries Plus)
Related Terms
Intervention Vessel
IndustryA specialised ship used to perform maintenance, repair, or remediation work on subsea wells and pipelines. Subcontractors are often mobilised to these vessels for ROV operations, well work, or equipment installation. Scheduling and access are tightly controlled by the operator.
Phase Gate
IndustryA formal approval checkpoint where a project must meet defined criteria before work advances to the next stage. Subcontractors often cannot mobilise, invoice, or begin new scope until the client clears each gate. Delays at phase gates directly impact crew scheduling and cash flow.
Cavern Storage
IndustryUnderground storage facilities carved out of salt formations or rock, used to hold large volumes of natural gas, crude oil, or other hydrocarbons. Subcontractors handle construction, maintenance, inspection, and integrity testing at these sites, often needing confined-space and geotechnical certifications. Injection and withdrawal seasons create predictable maintenance windows, helping field service companies plan mobilisation.
BOE (Barrel of Oil Equivalent)
IndustryA standardised unit of energy measurement that converts different types of oil and gas production into equivalent barrels of crude oil, used by operators to report total production volumes when determining project scope and service requirements for subcontractors.
Ultra-Deepwater
IndustryOffshore drilling operations conducted in water depths exceeding 1,500 metres. Subcontractors working these projects require specialised certifications, equipment ratings, and offshore survival training. Mobilisation costs and logistics complexity are significantly higher than shallow-water scopes.
Screen Media
IndustryThe replaceable filtering surfaces installed in vibratory shakers and separators on drilling and processing sites. Types include wire mesh, polyurethane, and rubber panels, each suited to different material grades. Subcontractors are often responsible for sourcing, swapping, and disposing of worn screen media during operations.
Latest Industry News
OPEC+ Adds 206,000 Barrels Per Day in May, Pressuring Oil Prices
Eight OPEC+ members agreed to boost collective output by 206,000 boe/d starting May 1, adding fresh downward pressure on WTI at a time when US operators were beginning to loosen spending plans.
4 months agoIndustryWTI Tops $100 as Hormuz Tensions Keep Oil Markets on Edge
Crude oil prices remain above $100 per barrel amid Strait of Hormuz disruptions and tight global inventories, with OPEC+ adding modest supply in April. Here's what elevated oil prices mean for field service companies.
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Industry GuideHow Rig Count Trends Affect Subcontractor Demand and What to Do About It
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