03/09 DeepWater Issue 4
An overview of recent developments in offshore oil and gas
Over the past few months many of us have grown familiar with the phrase “we live in a $40 a barrel world with a $100 a barrel cost base”. While oil and gas services have not collapsed in the same way as, for example, the shipping industry, the medium to long term effects of a lower oil price and general downturn in demand cannot be overlooked.
In this issue:
- Obtaining certainty of payment - strengthening the contractor's position under the IDDC
- The consequences of sub-contractor insolvency for an EPIC contractor
- Intellectual Property: a credit crunch strategy
- "Cash is King" - collecting unpaid invoices
- Insolvency unravelled
- Spot the difference: valued and unvalued insurance policies
