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Ting... are you in O&G ?
Guess u be reading from news article.... if oil price crash to below UPC... company will cancel contract and defer.... prinary term expire 2020... need to negotiate extension term
Ting, i would like to ask what you mean is they provide service for drilling, so the income is not affected, in fact their income is more as they provide more drilling services this year to other oil and gas company?
But most likely their income will be lower isnt it? As the oil and gas companies might not pay them as their income also affected, what about opex operations in velesto? Wont it affected much?
For 2020 all 7 of the velesto drilling rigs are engaged with petroleum operators to carry out the drilling activities under both green and brown fields thus the income for 2020 is secure under already signed daily chartered rate but for renewal contract the DCR might not be attractive if the oil price remain at competitive price
