Offshore drilling rig service and inspection firm ModuSpec has won a contract to support the intake of a stranded new-build jack-up drilling rig.
The jack-up was originally constructed in 2020 in Singapore and has remained stranded in the construction yard following the market crash and global pandemic, ModuSpec said.
As the upstream oil & gas market has recovered, the owners of the stranded rig have been awarded a multi-year contract in Latin America, ModuSpec explained.
The ModuSpec team will support during the reactivation period of the jack-up – to be ready to commence a program starting in the fourth quarter of Q4 2023 – including witnessing the reactivation and recommissioning of key equipment and systems.
"Over the past 24 months, ModuSpec has helped several clients to bring stranded rigs back to life, requiring a unique approach working in collaboration with the rig owner and oil company," ModuSpec said.
Mark Watson, Operations Manager for ModuSpec, said: “We are delighted to be chosen for this contract. There are around 50 stranded new-build rigs located in the shipyard which could be reactivated and made available to the market."
“We have a proven history with new-build rig projects, providing the support required before they can leave the shipyard and commence operations. We have to take into account that this rig has been stranded for nearly three years and special attention is needed to ensure the equipment and systems can function safely, as intended and within compliance. We look forward to working with another client in Latin America, a market where we have been very successful.”