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E&P equipment cost to start rising in 2018-II: Daily hire rates to move up
May 10: The sharp fall in day hire rates for rigs and vessels are evident across thet world and also in India as is evident from price evinced by ONGC contracts.
8One not much talked about segment that has been hit hard is the Remotely Operated Vehicles (ROV) category.
8Day rates may not have plunged as hard as those for other vessels but the fleet utilization levels have seen a sharp downturn.
8The data is further segmented into drill support and vessel based ROV utilization.
8The data is useful for Indian deepwater operators to understand so that they are in a better position to arrive at their internal cost estimates and bargain better with suppliers.
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