Project is at a very early stage usually initial scoping/pre-feasibility stage. Operator/Developer has announced initial plans for the development of a project.
Letter of Intent
A letter from one company to another acknowledging a willingness and ability to do business. A letter of intent is not a contract and cannot be enforced, it is just a document stating serious intent to carry out certain business activities.
Memorandum of Understanding (MoU)
An MoU is a document describing a bilateral or multilateral agreement between two or more than two parties.
Planning Consent Applied
Projects Operator/Developer submits an application to the relevant government authorities to begin construction of a development.
Projects Operator/Developer submits an appeal to a decision made by the relevant authorities that prohibits the development of a project.
Government / Authority Approved
The relevant authorities grant the operator/developer approval for the development
Preliminary stage in a bidding process where it is determined if an applicant has the requisite resources and experience to complete the job as required.
Tendering & Bidding
Companies invited to submit bids for specific contract(s) type by the projects operator/developer. Often the companies bidding will have been prequalified.
Bids Under Evaluation
Tenders submitted by contractors which are being evaluated by the operator/developer of a project.
Operator/Developer has announced that they have identified a contractor or a group of contractors that they would prefer to undertake the contract tendered.
Award of the tendered contract(s) to selected contractor or contractors.
Project or a unit of the project is deemed ready for service. Prior to entering service, equipment is installed and tested, problems identified and corrected and training given to operating staff.
Project Complete / Plant in operation
Production, Power Generation has commenced at the project. Majority of construction work on the project has been completed.
Drilling & Appraisal
Relevant only for upstream exploration projects. Further drilling and appraisal drilling is undertaken to prove up reserves of a hydrocarbon discovery. Other appraisal work can include geophysical/geological studies, and the shooting of seismic surveys.
Project has progressed to a certain point and has then been abandoned. The reasons are nearly always due to financing problems, a lack of final consenting approval or political intervention.
Project on Hold
Work on a project is suspended. This can be for a number of reasons including, the awaiting of finance, project viability, contractor becoming insolvent.