UOB HayHian research said Petronas has yet to issue guidance on capital expenditure (capex) cuts or contract renegotiations.
PETALING JAYA: As the termination risk on global jack-up rigs due to Covid-19-related issues will weigh negatively on sentiment, local contracts for foreign rigs have a higher risk of termination.
As such, UOB KayHian assumes that the termination risk on Velesto Energy Bhd
’s rigs will be low as they are locally owned.
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