Given the board's fixation on RGN being drilled on budget and on time makes me think that the drilling contractor was pressured to meet unrealistic timeline resulting in shortcuts being taken which resulted in the cementing problem.
Whilst I have no direct knowledge of gas and oil industry, I have often seen bosses in other industries put pressure on staff to meet certain kpis that actually result in preventable rework as the fixation is on quantity of work, not quality.
I still laughingly recall a Qantas plane having maintenance work being done and when they finished they lowered the plane off the jacks, not realising the one of the doors was still clamped in position resulting it buckling and then taking a few more days to redo that whole section of the plane.
EGO Price at posting:
29.5¢ Sentiment: None Disclosure: Held
