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ModuSpec - Oil & Gas Drilling Solutions

ModuSpec News

Read all about the latest news and developments at ModuSpec.

Rise of the stranded rigs – a perspective on rig intake

12-06-2024

During the boom of the upstream oil & gas industry a decade ago, the order book for new-build rigs was full and shipyards in the Far East were building and commissioning at a pace never seen before. Then we hit a major industry-wide downturn in 2015 and then another in 2020, and the demand for new-build rigs disappeared almost entirely. Today, against the backdrop of the current rig demand supercycle, focus is on increasing utilisation of current fleets and orders for new-build rigs have not materialised… yet.

ModuSpec completes two geothermal projects in Europe

05-06-2024

ModuSpec has successfully delivered rig inspection services for two geothermal projects within Continental Europe.

Safety Awareness June 2024

03-06-2024

Near miss - Material lost while in transport