a drilling contract that calls for the payment of a stipulated amount to the drilling contractor on completion of the well. In a turnkey contract, the contractor furnishes all material and labor and controls the entire drilling operation, independent of operator supervision. A turnkey contract does not, as a rule, include the completion of a well as a producer.
A well drilling contract which specifies paying the drilling contractor on the basis of completing drilling and preparing a well for production.
A contract to drill, complete and equip an oil or gas well for a set, predetermined price. The turnkey format is designed to limit the liability of an investor to the amount of their capital contribution for drilling and completion.
A contract in which an operator or drilling contractor agrees to furnish all labor and materials necessary to drill a well to a certain depth or stage of completion for a specified sum of money. The operator or contractor assumes all of the responsibility and risks involved in completing the operation.
immediately. an agreement in which a contractor designs, constructs, and manages a project until it is ready to be handed over to the client and operation can begin he conditions concerning payment for a purchase nbalanced growth: the result when not all sectors of an economy can grow at the same rate.
Contract under which contractor carries out and completes his assignment for a fixed fee, as opposed to working on per diem basis.
An agreement under which a contractor agrees to complete a product so that it is ready for use when delivered to the other contracting party.
An agreement in which a contractor is responsible for setting up a facility from start to finish for another firm.