Bloomberg reported last week that many of the offshore rigs that have been cold stacked are set to be completely scrapped, casting a huge blow to many rig operators’ business. They described the event as, “the most aggressive in an unprecedented experiment with what’s called cold stacking for big drillships.”
Unfortunately, we find ourselves in a downturn situation today that mirrors what we experienced in the mid-1980’s. The big difference, however, is that the offshore drilling rigs* of today are much more expensive and technologically complicated. Since we posted the article Best Practices for Dehumidification of a Mobile Offshore Drilling Rig Lay-up back in September 2014, the response has been overwhelming.
Lately, we have been reading and hearing reports from mobile offshore drilling rig owners that a number of MODUs are going to be stacked—unfortunately, this is a cycle that we have been through before. From past experience, we have learned that laying up rigs with proper dehumidification equipment installed helps to preserve the integrity of the below deck equipment and the quarters. When it comes time for the rig to be reactivated, it turns to the right faster and in better condition than a rig that is cold stacked at dockside or in the middle of a bay.