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IndustryGlossary Term

Service Company

Related Terms

Turnkey Contract

Industry

A fixed-price agreement where the subcontractor delivers a fully completed scope of work for a set sum. You absorb all cost overruns, so accurate estimating and tight cost control are critical. Profit or loss depends entirely on how well you manage execution against your original bid.

Raise Boring

Industry

A drilling method that creates vertical or inclined shafts by reaming upward from a pilot hole. Subcontractors use it for ventilation shafts, ore passes, and utility corridors. It requires specialised rigs and certified crews, affecting your equipment and labour bids.

Topside

Industry

The above-water structure of an offshore platform, including processing equipment, living quarters, and wellheads. Subcontractors working topside must meet strict offshore safety and certification requirements. Scope of work and billing rates often differ significantly from subsea or onshore assignments.

Greenfield Construction

Industry

Building a facility or infrastructure from scratch on undeveloped land, with no existing systems to tie into. For subcontractors, this means larger scopes, longer mobilisation windows, and more coordination with multiple trades. Expect extended project timelines but higher volume of billable work.

Begin Actual Construction

Industry

The point when physical site work starts, triggering contract milestones, mobilisation schedules, and billing periods for subcontractors. It typically marks when crews, equipment, and materials must be on-site and ready. Delays to this date directly affect subcontractor cash flow and resource planning.

Well Pairs

Industry

Two horizontal wells drilled together — one injector, one producer — used in SAGD (Steam-Assisted Gravity Drainage) operations. Subcontractors often mobilise crews and equipment to service both wells simultaneously. Expect back-to-back work scopes and coordinated scheduling across a shared pad site.

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