UMW Oil & Gas Sees Reduction in Workover Activities


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Archived, originally published in March 2016 

The group expects oil price to remain low and continue to be volatile in the near future, resulting in lower activities in exploration and development of new oil and gas fields, which has in turn, led to lower drilling and workover activities.

It also expects lower utilization of hydraulic workover units, along with drilling rigs.  

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