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Lump Sum Turn Key Contract

Definition: A “Lump Sum Turn Key (LSTK) Contract” refers to bidding terms and conditions between the End User and an EPC which don’t allow any financial change for a given scope of work until the EPC is able the deliver the newly built plant in full operations to the End User.

Comment: The benefit of the (LSTK) contract for the End User is to know how much will cost the construction of his plant and how long it will take as the project execution lead time is normally directly connected to the cost. The game for the “EPC” is to deliver the facility ahead of time to benefit from contractual bonus (the opposite of penalties in case of delay) and to restore his margin in managing smartly his procurement.

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1 Comment to “Lump Sum Turn Key Contract”

  1. Responsibilities As panel Operator

    Maintain area log sheets and log book.
    Electrical equipment locks out tag out as per requirement.
    Maintain area equipment and area housekeeping.
    Also maintaining the monthly KPI’s.
    Everyday performed the safety equipment audit and maintain the deficiencies.
    Weekly performed the pressure safety valve audit.
    Performed monthly Car seal open and car seal close valve audit.
    High pressure boilers (system generation unit)
    Refrigeration system for process plant
    Hydrogen-Gas Purification System (PSA unit)
    High pressure Hydrogen compressor
    Dry and wet flare system
    Fire water system
    Portable water /Demin water system
    Cooling Tower/close loop CW circute
    Instrument Air compressor
    Waste water unit
    Rewards and Acknowledgement
    Rewarded with Safe Worker certificate many times by efficiently implementing these procedures.
    Work safely during master startup, emergency shut down and turn around in UTILITY Plant.
    Environment safety award received for pick and highlight Hydro carbon leakage.

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