ModuSpec has secured a number of key projects valued at around $400,000 to support clients with the assessment of stranded newbuilds located in Asia.
The work will see the independent rig assurance specialist inspect several semi-submersibles and drillships in both China and Singapore respectively. The units are being considered for potential deployment in Northern Europe and offshore West Africa as the deepwater floater segment continues to tighten and both operators and rig owners alike look further afield for additional capacity.
Each of the stranded newbuilds is partially complete and will require reactivation, recertification and recommissioning to ensure they are operationally ready and compliant.
ModuSpec will undertake detailed assessments of the preservation status of critical rig equipment, certification requirements and compliance with regulations applicable to the intended area of operations. One client has also requested independent verification of capital expenditure (CAPEX) requirements to support its evaluation.
Mark Watson, Regional Director with ModuSpec, said: “We have seen an increasing level of utilisation for offshore floating rigs, in particular deepwater campaigns, which has resulted in both rig owners and operators considering stranded newbuilds currently in Asia. ModuSpec has extensive experience supporting the intake and deployment of newbuild rigs worldwide, helping clients make informed decisions on both acquisitions and future drilling campaigns.”
