Dateline 2012-09-12:
WE hosted a luncheon for private company Gryphon, an aggressive accumulator of mobile offshore production unit (Mopu) rigs that is benefitting from thriving exploration and production (E&P) activities in the oil and gas (O&G) sector, to provide its outlook for the Malaysian rig market.
Gryphon expects especially brisk demand for the sparsely available Malaysian-flagged rigs driven by rising rig count in Malaysian waters, as Malaysia intensified its E&P activities to boost oil production, rising substitution effect as Malaysian-flagged rigs replace some foreign-flagged rigs (on charter expiry). Gryphon notes that the domestic charter rate for rigs has recently firmed up, and expects rates to inch up over time, which point to potentially rising margins for rig owners.
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Wonder whether our friend is back in action after the “little jolt”?