ctr meaning in oil and gas

Usually a CTR is prepared by a Contractor undertaking a discrete piece of work for a client (a major oil and gas company) on a reimbursable basis. The CTR will be a little mini estimate of the cost of the work calculated on the basis of the resources (manpower) used and the estimated time to be taken at the agreed rates for the resource categories. CTR's can be used for cost control and monitoring of Contractor performance on Projects.