Contractors who are managing to continue to operate in the offshore oil and gas sector have had some time to adjust their business models and modes of operation to the new commercial realities resulting from the lower oil price. However, the radically different economic circumstances of recent years continue to manifest themselves in challenging commercial scenarios quite unlike those experienced in the better times when the oil price was significantly higher.

This guide, written for the benefit of contractors operating in the offshore sector but likely to be of interest to others contracting under English law, considers a number of common commercial scenarios encountered by contractors in the current leaner times. It discusses the associated English law issues arising, and offers guidance as to how contractors might navigate the issues they face and on how best to avoid certain pitfalls.