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The PSC program is managed by the USCG and United States Navy through an integrated program office. On 23 April 2019, Halter Marine Inc was awarded the contract for the detail design and construction of the lead PSC. [5] The contract option for the second PSC was exercised on 30 December 2021. [4]
The New Engineering Contract (NEC), or NEC Engineering and Construction Contract, is a formalised system created by the UK Institution of Civil Engineers that guides the drafting of documents on civil engineering, construction and maintenance projects for the purpose of obtaining tenders, awarding and administering contracts.
A contract was signed on 13 October 1998 for an initial six units, with the GNG as the major sub-contractor. A member of the GNG, the Hamburg-based Blohm + Voss was to build the first two ships, while PSC-ND was to complete the final fitting out and trials. The remaining ships were to be built at the PSC-Naval Dockyard from ship modules ...
The contract also involved technology transfer to PSC-ND from German side as well as to specified a local content of not less than 30 percent, and an offset program of not less than 30% of the contract value. The German Naval Group is also to make a counter purchase obligation amounting to 11% of the contract value.
The construction of the first cutter, USCGC Argus (WMSM-915), was planned to begin in the late summer of 2018, with delivery in August 2021. [35] In September 2018, the USCG exercised the contract option to begin construction of the lead Offshore Patrol Cutter, along with long-lead materials for OPC #2.
First implemented in Malaysia, the risk sharing contracts (RSC) departs from the production sharing contract (PSC) first introduced in 1976 and most recently revised last year as the enhanced oil recovery (EOR) PSC which ramps up recovery rate from 26% to 40%. As a performance-based agreement, it is developed in Malaysia for the Malaysian ...
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