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Your Position :Home->Past Journals Catalog->2019 Vol.1

Analysis of Risks and Mitigation in General Construction Contracts
Author of the article:Yang Pan1 ,Li An2 ,Wang Linya1
Author's Workplace:Yang Pan 1.China Petroleum Engineering & Construction Corp. Southwest Company;2.PertoChina Southwest Oil&Gasfield Company Key Surface Engineering Construction Project Department
Key Words:Gasfield; EPC project; Contract; Law; Analysis
Abstract:

As domestic demand for clean natural gas experienced explosive growth, the natural gas industry adopted multi-year general construction contracts for upstream ground engineering projects. Through the seamless coordination of design, procurement and construction, this type of contracts decreased capital investment, shortened construction duration, and increased productivity.Nevertheless, risks still persisted. Natural gas ground construction projects are huge and complex. Contracts, although essential to the smooth implementation of such projects, are prone to risks such as poor negotiation and implementation. Based on many years of experience with multi-year construction contracts, this paper discusses certain common features, pitfalls and proposes solutions.

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