OIL & GAS
Palm Commercial Services has the capability and experience of working with international projects working for National Oil Companies, Major Oil Companies and at all levels within the Supply Chain
The Oil and Gas industry is an inherently hazardous one. Exploring for, producing, transporting and processing volatile hydrocarbons is attended by a whole host of risks: to people, property, the environment and to the valuable commodity itself. The degree of difficulty associated with these operations, and therefore the level of risk which attends them, is only heightened when – as is commonly the case in the United Kingdom – oil and gas reserves are located offshore.
Due to the hazardous nature described above there is the potential for significant losses to contracting parties - hence contractual relationships in the industry are highly structured for good reason. This ensures that all pertinent issues are agreed in writing e.g. the enormous potential liabilities of the parties in the event of a major accident or incident.
In most cases there are more than two parties involved, for example there will be numerous contractors on a drilling unit or platform, and all of these inter-relationships also have to be covered, with the main issue being those not a party to the contractual agreements. For example, if a passing fishing boat is damaged by an incident on a drilling unit, who is responsible – the contractor who caused the incident or the operator of the drilling unit/platform? Applicable laws, insurances, taxes, conflict resolution issues will ensure that contractual relationships are also highly structured.
Palm can provide assurance to our clients that all of the above risks and uncertainty is covered whilst retaining a good working relationship with the ultimate client.