Independent contractors (IC) are non-employee workers hired to perform a set task or a series of tasks. The independent contractor is considered to be self-employed, responsible for having proper insurance, paying taxes and paying workers or themselves. Based on their IRS classification, independent contractors are also known as 1099 workers.
In the oil and gas industry, independent contractors are typically engaged as technical professionals or subject matter experts with the knowledge and skills necessary to complete certain aspects of complex projects. Although the skills needed for these tasks are highly specialized, they translate easily from project to project, allowing an independent contractor to come into a project to perform a specific function, and then leave to perform the same function on another project. [Read more…]