The volume of private sector investment is generally small and short-term. This type of agreement generally does not provide a strong incentive to conclude a project at an early stage. This type of private sector involvement is also called design construction. The following figure shows the typical structure of a turnkey contract. On the basis of the award of the contract, a contractor works on behalf of an oil and gas organization to carry out the project from scratch. There are other tenders for the purchase of various equipment, electrical and construction works. The contractor handles all the requirements that are met under the oil and gas organization for which the contractor is working on a turnkey project. This contractor performs all inspections and review procedures to ensure the project is running smoothly. Based on the results and analyses, the contractor mandates the project and hands over the project to an oil and gas organization for other operations.
A turnkey project or contract, as described by Duncan Wallace (1984), is:  1- In EPC, an employer will provide basic engineering to a contractor and the contractor must perform a detailed construction on the basis of the basic project received. 2- In Turnkey, the employer will provide only certain technical specifications for the project and it is the contractor`s responsibility to prepare the basic and detailed planning of the project. 3- In turnkey, the contractor is responsible for the construction and commissioning, commissioning and resumption of the facility to the employer, but in EPC it may be the responsibility of other third parties to carry out the commissioning and commissioning. Turnkey refers to something that is immediately ready to use, usually used for the sale or delivery of goods or services. The word is an indication that the customer, after receiving the product, must simply turn the contact key to make it operational, or that the key must be handed over to the customer.  Turnkey is often used in the construction industry, for example when it comes to the pooling of materials and work by the builder or general contractor to complete the house without the owner`s involvement. The word is often used to describe a house built on the developer`s land, with developer funding ready to move in for the client. When a contractor builds a «turnkey house,» he frames the structure and finishes the interior; It`s all over to the cabinets and carpets. Turnkey is also commonly used in motorsport to describe a car that is sold with a powertrain (engine, gearbox, etc.) unlike a vehicle that is sold without a vehicle, so that other components can be reused. Real estate is defined as a ready-to-use home or property for the intended purpose, i.e. a home that is fully functional, does not need modernization or repair (a recommissioning). In the commercial field, a building designed for car repair would be defined as turnkey if it were fully equipped with all the machinery and tools necessary for this specific trade.
[Citation required] The turnkey process includes all stages to open a site, including site selection, negotiations, land use planning, work coordination and complete installation. «Turnkey-Real Estate» also refers to a type of investment. This process includes the purchase, construction or rehabilitation (of an existing site), renting to tenants, and then selling the property to a buyer. The buyer buys an investment property that generates a revenue stream. The tender file contains the scope of the project, price details, product details, what is necessary if necessary, penalty, payment plan, etc., from the oil and gas organization to the contractor.