I recently had the opportunity to chat with a BD Director from NPCC.

His punchline was that you would make more returns putting money in ASB than doing an EPCC Job nowadays. Why would you go through all the hoops and bounds for razor thin margins ?

Another thing he highlighted is that the current market is saturated not only with people under quoting price wise but also nonsensical lead times for LLIs . Apparently they lost the KSCPP project because of a certain EPCC promising they could deliver the TBMs YEARS ahead of the competition ....

Guess what? Lol

Seems like you have to lie and bullshit to get jobs nowadays

Any opportunity to join Petronas & ENI's JV company?

Your guess is spot on ....

Just got back from regional offices . It's even worse than expected . People feel like they might lose their jobs even more ...

For instance GPSC already has legacy staff from Exxon , seems
like to be handed over to ENI . List sudah keluar.

Besides , throughout MA so many assets are now going to be COP/LLAs.

Good news is new builts are now at light speed pace to cover the deficit . But still it will take time like BIGST , MFDP , UDWs , New players etc.

Its a battle of attrition now , we are going to be at the bottom of the trough before it starts to pick up again . Sudah keluar signs .... end of the year but little to no activities for LLIs . You know I know thats the first indicator that theres nothing for next year lol.

Honestly the advice i give to my friends now is to take any job they can and hold on to dear life.

LLA Late Life Assets

context is LLI .

No LLI means significant reduction of any MRO/MMO activities or FIP + .

Ergo Super Cost Savings , reduce any scope of work or bedding to the maximum .

Get ready its about to get crazy for floaters