Does contracting work out, not cost money?
Permanent staff and contractors cost money. On a daily basis a contractor cost more. The saving is achieved in that the contractor does not hang around on the payroll on a permanent basis, no need to cover salaries when there is little to do, no need to fund make-work projects, no medicals, no bonuses, no vacations, no warming a chair, no sipping cofee, no trading jokes about C-64's, etc. You may hire the contractor for a specific purpose, they do what they have to do and then you get rid off them until needed again.
A company like FO is essentially a shell since the JV with XOM and MOL were signed. XOM will do all the work. FO need only worry about the 100% owned land, and for that there is nothing to do until XOM is ramping up production in the JV. That is quite away yet. So in the mean time all make work projects should be killed, and all staff let go, except for the very essential to keep the shell alive
Make work projects?, did I say that?. Yes, that is the Aussie land gushing oil that TK's much famed research team has its eyen on.
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