Observations and suggestions in closing out contract for large energy and natural resources projects
Over the next 2 years, nearly $70 billion worth of contracts will be closed out on major capital infrastructure projects across Australia, a large portion of which is centred around the large LNG projects in central Queensland and on the North West Shelf in Western Australia.
The downturn in global energy markets has led to a situation where affected parties – joint venture partners, contractors, employees and all those affected by contract disputes – need to protect their reputations, retain margins and, in several instances, recover costs where projects are challenged economically.
© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.