Offshore contracts sub-standard, says report

THE OFFSHORE oil and gas industry is showing signs of 'worrying neglect' by failing to put in place 'effective arrangements' for handling contractual disputes, which result in cost overruns and delays. That is the conclusion of Ian Garrard, managing partner at Curtis Davis Garrard, in the light of a new report by the Douglas-Westwood consultancy. The study, which Garrard says highlights the need for an 'urgent review' of companies' contractual management strategies, 'clearly shows that many within the industry are still ill-prepared when faced with disputes'. If they were written more sensibly, contracts would help project management and dispute resolution, rather than serving as something t