Contractual- and relational governance structures : a qualitative study of regional differences in contract type and contract formalization within th…

2011

Masteroppgave i økonomi og administrasjon - Universitetet i Agder 2011 With rig-operation rates of a million dollars a day it is absolutely necessary to ensure that all drilling and well contractors perform satisfactory and deliver according to contract. There are many ways to organize the related transactions and potential associated relations to ensure efficient governance structures. In this thesis, I have analyzed actual contracts and interviewed a range of industry professionals concerning contractual - and relational governance. The findings indicate that the formal governance is mostly neoclassical, but that it is complemented with informal relational contracts, and when a relationsh…