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Integrated contracts within the oil service industry

Eriksen, Maria

Masteroppgave/UIS-TN-ISØP/2019, 2019

University of Stavanger, Norway

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  • Título:
    Integrated contracts within the oil service industry
  • Autor: Eriksen, Maria
  • Assuntos: industriell økonomi ; kontrakter
  • É parte de: Masteroppgave/UIS-TN-ISØP/2019, 2019
  • Notas: Masteroppgave/UIS-TN-ISØP/2019
  • Descrição: A written contract is an important part of the project. It defines the agreement and contributes to clarity on what is agreed so that misunderstandings can be avoided. It creates predictability so that the parties have the necessary confidence in how a legal relationship should work between them. However, a contract not only provides duties, responsibilities and sanctions, but is also an important tool for cooperation. This applies in particular when it comes to the form of communication and deadlines for different messages between the parties, and their legal effects. A contract also enables the parties to control risk. A written contract regulates who the contracting party is, what the agreement applies and does not apply to, what terms the agreement is based on, rights and obligations, deadlines, who represents the parties, how the communication should be, what defines a breach of contract, how breach of contract is sanctioned, how disputes should be handled, and when and how the agreement ceases. A company can choose to enter into several service contracts, which was a common practice in the past, or sign a so-called total contract, which is becoming more common now in recent times. The purpose of this thesis is to look at the differences and assess the benefits of signing a total contract with one service company rather than several smaller service contracts. The master thesis will be based on the Frame Contract (Contract), entered into on 03.07.2015 between Statoil Petroleum AS on behalf of the participants in the Licence Group (Company) and Baker Hughes Norge AS (Contractor). This contract will be compared to Master Service and Supply Agreement ("Agreement"), entered into on 28.08.2008 between StatoilHydro ASA (Company) and Baker Hughes Norge AS (Contractor).
  • Editor: University of Stavanger, Norway
  • Idioma: Inglês
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