MIDF said industry players expect further signs of recovery with increased drilling activities, particularly in South-East Asia with contracts awarded back in the second half of last year by regional players. This is expected to drive the utilisation rates for the rigs.
PETALING JAYA: After a tumultuous four months for the oil and gas (O&G) sector, industry players can heave a sigh of relief on the back of some certainty as global oil prices start to stabilise.
Over the past month, the price of Brent crude oil has consistently sat above the range of US$40 per barrel as it recovered from the April plunge to US$16.
