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Industry Glossary Term

Well Plugging

The process of permanently sealing a wellbore with cement or mechanical barriers to prevent fluid migration. Subcontractors are often engaged for specialised plugging and abandonment (P&A) scopes. Demand for this work is steady as regulators push operators to remediate inactive wells.

Related Terms

EPC (Engineering, Procurement, Construction)

Industry

A project delivery model where one main contractor handles all phases from design to completion, typically creating multiple subcontracting opportunities for field service companies across different project phases. For subcontractors, EPC projects often mean working under a prime contractor who coordinates all trades and manages the overall timeline and specifications.

Tide Gate

Industry

A one-way valve or flap gate that allows water to drain freely but prevents backflow from rising tides or high water levels. Subcontractors working on coastal or waterfront sites must account for tide gate locations when planning drainage, excavation, or utility work. Ignoring these structures can cause flooding, schedule delays, and scope changes.

IFB (Invitation for Bids)

Industry

A formal document issued by an operator or prime contractor soliciting fixed-price bids for a defined scope of work. Subcontractors must submit pricing by a set deadline, with contracts typically awarded to the lowest qualified bidder. Review the technical specs and site conditions carefully before submitting your number.

Permanent Magnets

Industry

Fixed magnets that retain their magnetic field without external power, used in motors, sensors, and lifting equipment on job sites. Subcontractors handling this equipment must follow strict handling and storage protocols to prevent injury or tool damage. They are common in downhole tools, generators, and magnetic lifting devices.

Fuel Security

Industry

The guaranteed availability of diesel or other fuels needed to keep equipment and vehicles running on remote job sites. Subcontractors must plan fuel supply chains carefully to avoid costly downtime. Disruptions can delay project milestones and trigger penalty clauses in service agreements.

Modular Above-Ground Storage

Industry

Prefabricated, relocatable tanks or containment units installed on-site without permanent foundations. Subcontractors use them for temporary fuel, water, or chemical storage on remote or fast-moving job sites. Their modular design speeds up mobilisation and reduces civil work costs.

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