Energy Voice | EMAS Offshore wins $33million of new contracts in Asia and Africa - News for the Oil and Gas Sector: "“The group is likely to experience an intense price competition on its charter rates and a tapered rate for its vessel utilisation. This will inevitably have an impact on the group’s operating
and financial performance.
“However, we continue to adopt measures to strengthen our balance sheet and conserve cash. We are focused on opportunities for our offshore assets and accommodation and support services, and barring any major long-term disruption, we will be able to benefit from an eventual upturn.
“In the face of significant volatility and weakness in the oil price environment, we have taken further steps to reduce cost, targeting a further reduction between 10-20% on vessel cost and general administrative expenses."
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