Oil & Gas / Petrochemical

Community Leads

Welcome to the Oil, Gas & Petrochemical Community.

Group Mission/Vision: Provide its members with insights to new trends and emerging practices in the fields of contracting, commercial and relationship management in the oil and gas sector. This community was started by the members of IACCM in the industry to talk about issues particular to them.

The Petrochemical, Oil and Gas Community of IACCM is a global group of contracts and commercial practitioners from companies in the Petrochemical, Oil and Gas industries. The Community will create and share knowledge, within legal and ethical boundaries. The group will provide help to solve problems raised by its members related to the activites associated with commercial and contract management in the Petrochemical, Oil and Gas industries. This will be done by sharing ideas, discussing challenges, exploring new directions and, where appropriate, initiating research or inviting experts to present on key topics in the oil and gas sector related to contract, commercial and relationship management. Since this is a highly regulated industry, please be mindful of that when making postings.

The Community will:

  1. Build a vibrant network of contracts and commercial practitioners in the Petrochemical, Oil and Gas industries.
  2. Offer networking events whenever possible to our community.
  3. Provide standards and best practices for use by our community.
  4. Provide Ask the Expert Calls.
  5. Review available training and provide quality IACCM training in the Petrochemical, Oil and Gas industries
  6. Provide Subject Matter Experts and a “body of knowledge” for our community.
  7. Provide breakout forums at IACCM conferences for Petrochemical, Oil and Gas industry subjects.
Community Updates

Ask The Expert: Data Protection - the global impact of GDPR

In May 2018 the new General Data Protection Regulation will come in to force and it will have implications for organizations across the world. Join this webinar to find out how GDPR will affect you and your organization. The main points will include: - What will May 2018 bring?: Overview of Europe's changing data protection and cyber incident regulatory framework. What about Brexit? - Key changes: What will be expected of organizations which trade physically or digitally in the EU? What impact will the changes have on contracts? - Data transfers: How do EU data transfer laws work? What could upcoming developments impact contracts and projects?


Relational Contracting - Notes from IACCM Member Meeting Brisbane, Sydney and Melbourne July 2017

In this special member meeting, with Jim Bergman, IACCM VP Africa, Middle East, Asia & Special Projects shared the latest thinking on Relational Contracting, a feature in commercial management of paramount to sustainable supplier relationships. Includes link to White Paper - Unpacking Relational Contracts


Supplier Managed OCTG Agreement

Currently our team is looking at the strategy for supply of OCTG with option to have the supplier manage all current and future inventory stock of OCTG ie outsource the logistics of OCTG Appreciate any thoughts or best practice for contracting conventions to be applied as we are aware this model is used frequently by IOC and some NOC.


Next-Level Cybersecurity: Preparing for Internet Shutdown

Does your Company have a comprehensive plan in place to ensure that critical business can still get done in the case of a prolonged Web outage? Most businesses today rely on the Web at least in some part. Some more than others, so this failure should be considered and planned for; can your business survive if the web went down and for how long?


Fixed Price Contract versus Incentive Based Contract in the Oil Industry

The research question of this paper is to analyse when an operator and a service provider prefer a fixed price contract, common in the oil and gas industry, versus the uncommon incentive-based contract. The contracts are modelled with 20 parameters and one free choice variable which is the time to complete the project determined by the service provider. The method is to determine the service provider's first order condition and compare the two actors' profits for the two contracts. The actors' preferences for the two contracts are presented with analytical inequalities and graphic illustrations. We show when both actors, versus only one actor, prefer(s) the incentive-based contract. Both actors never jointly prefer the fixed price contract. The two actors collectively always prefer the incentive-based contract. This result follows since costs associated with moral hazard, adverse selection, monitoring, coordination, etc. decrease with the use of an incentive-based contract.


Members Meeting - San Francisco June 20th hosted by PG&E

Presentation slides for IACCM Members meeting held in San Francisco June 20th at the PG&E offices on Market Street

Community Members