The driller is good and actually makes money. It has a skillset in a niche market.
The e&c business is not so good, it bleeds money and should've been sold long ago.
If you sell the e&c business, and revitalise/focus on the core directional drilling ops you should have a reasonably profitable business. I see the problem as one of management/governance rather than a really poor franchise.
Ann: Award of QGC Trunkline Contract , page-9
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