"TPDC has decided to require tangible commitment from the Joint Venture and will clearly take account also of the remedy of existing defaults before deciding on the PSA extension."
SWE only need to approve OEL's farmin partner who will, under the farmin terms, cover 50% of the total drilling costs (as will Tata for SWE).
The well then gets drilled, which is, or should be, TPDC's prime concern.
If SWE were operating in the Philippines, they'd be relieved of their operatorship.
Kito Licence Related, page-5
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