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The NEC contracts now form a suite of contracts, with NEC being the brand name for the "family" of contracts. [16] When it was first launched in 1993, it was simply the "New Engineering Contract". This specific contract has been renamed the "Engineering and Construction Contract" which is the main contract used for any construction based project.
A senior mud engineer typically works in the day, and a junior mud engineer at night. The cost of the drilling fluid is typically about 10% (may vary greatly) of the total cost of drilling a well, and demands competent mud engineers. Large cost savings result when the mud engineer and fluid performs adequately.
A cost-plus contract, also termed a cost plus contract, is a contract such that a contractor is paid for all of its allowed expenses, plus additional payment to allow for risk and incentive sharing. [1] Cost-reimbursement contracts contrast with fixed-price contract, in which the contractor is paid a negotiated amount regardless of incurred ...
A standard form contract (sometimes referred to as a contract of adhesion, a leonine contract, [a] a take-it-or-leave-it contract, or a boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed in a "take it or leave it ...
Surface mud systems. In the oil drilling industry, effective solids control can be attributed to the overall performance of all the components of the mud systems.Conditioning the drilling fluid with the goal of dramatically lowering maintenance cost, avoiding excessive chemical treatment and maintaining mud systems volume will decrease the chance of equipment failure, unnecessary high mud ...
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