The Pegasus-Global November 2009 Newsletter

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Industry Sector News

Oil and Gas

Pegasus-Global's advice at the September 2009 Deutsche Bank Oil & Gas Conference

There is an interesting picture emerging in terms of the poker game currently being played between the oil Majors and the Services companies. What follows is my sense of some of the current industry dynamics from spending time recently with RDS, BP, Total and Pegasus-Global (services consultant):
-- Going back 6-9 months, Service companies were suggesting that NOC project awards could provide some bridging for their backlog while significant IOC awards took time to feed into the system (roughly expected to be within a 12 month time frame). Speaking to some of the IOCs at that time, this expectation was not unreasonable. Six months on and it seems that most of the Service names are singing the same tune (i.e. the likelihood of further NOC awards, while those from the Majors would start to come through within 12 months).
-- BUT I GET THE SENSE THAT THE MAJORS' ATTITUDE TOWARDS TAKING SIGNIFICANT FIDs (in the move from sprint to marathon projects) MIGHT HAVE SHIFTED IN THE INTERVENING PERIOD AND IT IS NOT CLEAR TO ME THAT SERVICE COMPANIES HAVE REALISED THIS.

Read more of Pegasus-Global's advice at the September 2009 Deutsche Bank Oil & Gas Conference

Pegasus-Global this Month

AAA National Construction Dispute Resolution Committee (NCDRC) holds semi-annual meeting on December 3

That the American Arbitration Association (AAA) has a national advisory committee composed of the leading construction industry trade and professional associations.

In 1966 the American Institute of Architects (AIA) amended its documents to call for the administration of arbitration by the AAA. Shortly thereafter the AAA, in cooperation with the AIA and other industry trade and professional associations, founded the National Construction Dispute Resolution Committee (NCDRC) which today includes over 30 industry associations.

The NCDRC's mission is to provide comprehensive guidance to the AAA on construction dispute avoidance, management and resolution services. This partnership provides leadership in:

• developing effective alternative dispute resolution techniques,
• advising on changes to construction arbitration rules and mediation procedures,
• establishing criteria for construction arbitration and mediation,
• advising on the development of conflict resolution training for neutrals and advocates, and
• advising on the development of instructive resources to educate the industry on the use of dispute avoidance and resolution mechanisms.

The NCDRC meets twice a year in person and periodically by conference call when important industry-related matters affecting ADR so requires. The assistance and guidance provided at these meetings and throughout the year benefits the users of dispute avoidance and resolution techniques in the construction industry.

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