Material Inventory Committee (MIC)
All oil and gas companies have material and equipment, which is always moving around from location to location. In joint ventures, there are governing contracts which specify the rules to be followed when moving, selling, disposing or salvaging this equipment. The Material and Inventory Committee strives to be a resource to industry to help ensure companies are properly equipped with information and processes to meet these obligations.
The Material and Inventory Committee is a multi-stakeholder group composed of various companies' accounting, supply chain, and investment recovery personnel with various levels of experience. Industry standards, trends and changes are discussed. The PASC Controllable Material Price Catalogue is updated on a yearly basis. This book contains guidelines for handling and controlling material and equipment inventories, descriptions and illustrations, and current market values for transfer or sale purposes.
We are always looking for new members to join our committee so that we can ensure we are meeting the needs of the industry as a whole. If you would like to join our committee, or are just curious about what we do and would like to find out more information, you can contact Darcy Van Aert.