After a period of dormancy, drilling activity has improved globally, with offshore rig utilisation now at over 60% compared to 40%. Despite an increase in demand for rigs, there is still an oversupply in the rig market. So, what does this mean for your rig intake strategy going forward?
The preference may be to contract a hot rig because there are typically less operational risks when compared to a similar specification non-operational rig. Are the hot rigs actually hot? And what happens if you cant get a hot rig?
The rig selection and intake process requires a planned and multidisciplined approach to ensure you identify and manage risk effectively - a typical tick in the box rig inspection will not suffice in most cases. Our guide looks at the four key steps to successful rig intake, whether its hot or not, covering:
- Rig intake
- Robustness of management systems
- Rig Acceptance