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IndustryGlossary Term

Sources Sought

A notice issued by a client or prime contractor to identify qualified subcontractors before a formal tender is released. Responding helps get your company on the bidders list. It is not a contract offer, but skipping it can mean missing the actual bid.

Related Terms

Acre-Feet

Industry

A volume measurement equal to one acre of surface area filled one foot deep, roughly 1,233 cubic metres. Common in water management contracts for tailings ponds, frac water storage, and site remediation. Subcontractors may be scoped and billed based on acre-feet of material moved or treated.

NPRA (National Petroleum Reserve-alaska)

Industry

A large federally managed area in northwest Alaska open to oil and gas exploration and development. Subcontractors working here face extreme remote logistics, strict federal permitting, and seasonal access windows. Mobilisation costs and compliance requirements are significantly higher than conventional onshore projects.

WCB (Workers' Compensation Board)

Industry

Provincial agencies in Canada that provide workplace injury insurance. Contractors must maintain WCB coverage and good standing to work on most sites.

Acreage Position

Industry

The total land or mineral rights an operator holds for exploration or production. A large acreage position often signals sustained work programmes and long-term subcontractor demand. It helps field service companies forecast pipeline opportunities in a region.

BPD (Barrels Per Day)

Industry

A measure of a well's or facility's daily oil output. Higher BPD typically means greater activity levels, more crews on site, and increased service demand. Subcontractors often see scope and call-out frequency tied directly to a client's BPD targets.

Subsea Production System

Industry

A network of underwater equipment — including wellheads, manifolds, flowlines, and control systems — installed on the seabed to extract and transport oil or gas to a surface facility, representing a specialised scope of subsea installation, inspection, and maintenance work that subcontractors must hold specific certifications and equipment to perform. For field service companies, contracts in this space typically involve saturation diving support, remotely operated vehicle (ROV) operations, or subsea engineering services under strict offshore safety and quality regimes.

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