FieldNews
Subscribe

Daily oil & gas and construction news for subcontractors

IndustryGlossary Term

Tank Farm

A designated site containing multiple large storage tanks for oil, gas, or chemicals. Subcontractors frequently perform inspection, maintenance, and cleaning work at these facilities. Access permits and confined space certifications are typically required on site.

Related Terms

Duct Bank

Industry

A grouped arrangement of conduits encased in concrete, used to route electrical or communication cables underground on job sites. Subcontractors installing or excavating near duct banks must follow strict dig protocols to avoid damaging live services. Identifying duct bank locations early prevents costly delays and liability.

Opec+ (organisation of the Petroleum Exporting Countries Plus)

Industry

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.

P3 (public-Private Partnership)

Industry

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.

Completions

Industry

The phase of oil and gas well development after drilling is finished, encompassing the work required to prepare a well for production — including perforating, fracturing, and installing wellhead equipment. For subcontractors, completions represent a concentrated burst of high-demand field work where specialised crews, equipment, and services are mobilised under tight timelines.

ERP (Enterprise Resource Planning)

Industry

Software that centralises a subcontractor's core business functions, including payroll, invoicing, procurement, and scheduling. It replaces disconnected spreadsheets and paper systems with a single source of operational data. Larger GCs and operators may require subcontractors to integrate with their ERP for work orders and payment processing.

Workover

Industry

Operations performed on an existing well to restore, maintain, or improve production. Includes activities like recompletions, artificial lift installation, and remedial cementing.

Stay sharp on field operations

Industry news and insights, delivered to your inbox.

Subscribe to FieldNews
A community project byAimsio