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
