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Performance-based contracts in E&P-II: Can PSUs achieve a breakthrough?
Apr 26: Public sector companies have been trying unsuccessfully for over two decades to implement performance-based contracts, particularly in their ageing fields
8The lack of success has been on account of not being able to figure out how to design such a contract, how to go through the partner selection process and then how to go through the contract execution phase.
8For reference purposes, the website carries here a detailed mapping of the different kinds of contacts that are available within the  performance-based contract framework.
The pros and cons of the following types of contracts are elaborated
Cost plus
-- Fixed price
-- Performance based
8An insight is also given on how to design such contracts and what that will entail for an oil & gas company.
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