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Industry Glossary Term

P3 (public-Private Partnership)

A project delivery model where government and private companies jointly fund and develop infrastructure like pipelines, roads, or facilities. Subcontractors often work under large prime contractors who hold long-term P3 concession agreements. Payment structures and scope changes can be complex, so review contract terms carefully before mobilising.

Related Terms

Interoperability

Industry

The ability of different software systems, tools, or equipment to work together without manual workarounds. For subcontractors, this means your timesheets, invoicing, and reporting tools can connect directly with a prime contractor's systems. It reduces double-entry errors and speeds up approvals and payments.

Screening Circuit

Industry

A series of vibrating screens used on-site to separate solids by size from drilling fluids or aggregates. Subcontractors operating or maintaining this equipment must track run-hours carefully for service billing. Screen cloth replacement is a common scope item in solids-control contracts.

Alternative Delivery Models

Industry

Contracting arrangements beyond traditional lump-sum or day-rate structures, such as alliance, integrated project delivery, or performance-based contracts. These models shift how subcontractors are engaged, paid, and held accountable for outcomes. Understanding them helps field service firms assess risk, pricing strategy, and scope responsibilities before signing.

Capital Maintenance Agreement

Industry

A long-term contract where a subcontractor provides scheduled upkeep and repairs on a client's major assets or facilities. Work scopes, pricing, and mobilisation terms are typically locked in advance. These agreements offer subcontractors predictable revenue but may limit flexibility to take on other work.

Shaker Screens

Industry

Mesh filters mounted on shale shakers that separate drill cuttings from drilling fluid on the rig. Subcontractors handling fluid management or solids control must track screen condition and swap them regularly. Damaged or plugged screens slow operations and can trigger downtime charges against your crew.

Ip120 (initial Production 120-Day Rate)

Industry

The average daily production output of a new well over its first 120 days. Operators use this benchmark to schedule and extend field service contracts. Strong IP120 results often trigger follow-on work for completions and production crews.

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