EDC to start outsourcing its drilling operations
Bacon-Manito geothermal power plant, Philippines (source: First Gen Corp.)
Alexander Richter
17 Dec 2010
Philippine company Energy Development Corp. is to close its drilling operations and will outsource its well drilling operations seeking globally competitive drilling service providers.
In news from the Philippines it is reported that, “Energy Development Corp. (EDC) will close its Well Construction Group in February next year.
In a disclosure to the stock exchange, EDC said the company will outsource its well drilling operation.
“Upon closing of its drilling operations unit, the company will be securing the services of globally-competitive drilling service providers, a practice which the company believes is consistent with global best practices of oil, gas and geothermal companies,” it said.”
Source: Business World
