Originally Posted by
212man
Can you give some examples? Apart from Dancopter a few years ago. I know Staoil pulled out early in Tanzania, but that was based on the drilling campaign ceasing early and nothing to do with re-tendering.
I can't give any other specific examples but we were told by management that most of our contracts had to be re-negotiated / re-tendered after the downturn and we only managed to keep them by lowering our rates significantly. Of course it wouldn't be the first time we were lied to by our management, that’s why I asked the question. Industry Insider says that the contracts he knows of were honoured so more than likely we weren’t told the (complete) truth.