The unfortunate downturn in drilling has resulted in the stacking of several shallow water jack up rigs. The far sighted owners of these rigs have already begun making repairs and modifications while the rigs are off day rates in order to be ready to return to work as soon as the drilling industry catches fire again. The smart drilling contractors that get the repairs and modifications made during the slack times are ready to go when the time comes and the ones that are not ready will lose valuable day rates while waiting for the necessary repairs. When the industry gets hot again all the contractors that perform the repairs will be overwhealmed and harder to get.
 

Polar will begin test assembling two derricks for the Perigrino platforms belonging to Statoil Hydro in January 2008. The test assemblies will be at the Kiewit shipyard in Ingleside Texas. After testing the systems the rigs will be barged to Brazil for offshore installation.
 

The three derricks that are to be dismantled in Alaska are in very good condition and ideal for use as test derricks for drilling equipment manufacturers. All three are angle leg standard derricks. 30’ base x 147’ tall x 8’ top. These derricks should be available by the end of July, 2009.

Please contact John Harris with Polar for details.
 

Polar has been contracted by Proserv Decommissioning Contractors & Engineers Inc. to dismantle three derricks on two different Marathon Oil platforms in Cook Inlet near Kenai Alaska. The project is expected to begin at the first of May.