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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 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.
Mud is a vital part of drilling operations. It provides hydrostatic pressure on the borehole wall to prevent uncontrolled production of reservoir fluids, lubricates and cools the drill bit, carries the drill cuttings up to the surface, forms a "filter-cake" on the borehole wall to prevent drilling fluid invasion, provides an information medium for well logging, and helps the drilling by ...
A mud pump (sometimes referred to as a mud drilling pump or drilling mud pump), is a reciprocating piston/plunger pump designed to circulate drilling fluid under high pressure (up to 7,500 psi or 52,000 kPa) down the drill string and back up the annulus. A mud pump is an important part of the equipment used for oil well drilling.
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As of 2008, Saudi Readymix grew to a work force of over 2,500 employees (2,900+ as of June 18, 2011), [5] reached production of over 5,000,000 m 3 of concrete a year, and [6] amassed a fleet of more than 400 mixer trucks, some of which are GPS equipped, [7] 150 mobile and stationary pumps, [8] and 3 aggregate quarries.
Drum mixers (reversing drum mixer and tilting drum mixers), used where large volumes (batch sizes of 3–9 m 3 or 3.9–11.8 cu yd) are being produced. This type of mixer is capable of high production outputs. All the mixer styles have their own inherent strengths and weaknesses, and all are used throughout the world to varying degrees of ...
The cost stop gives to the government the guarantee to recover part of the production (as long the price of the crude produced is higher than the cost stop), especially during the first years of production when the costs are higher. Since the beginning of the 80s all major contracts include invariable a clause of cost stop.