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ONGC's Jack-Up Rig tender-V: Time for ONGC to change its business model
Jun 22: If ONGC knows, as it the world already knows, that charter hire rates for jackup rigs are going to go up in three years, what prevents the company to look at a longer term perspective given that it will continue to have a requirement for such rigs well into the future?
8One answer is that rig requirement details are never planned for more than three years in the company.
8Internal planning is not good enough to look at a longer term perspective.
8But clearly there are other business models, like the one entered by Saudi Aramco recently, that ONGC can follow that will lock up its requirement for jackup rigs from a longer period of time
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