Rebuilding Confidence in Reactivated DP Assets
The offshore energy sector, like any industry, is constantly subject to market cycles. Challenging conditions may lower demand, resulting in a significant number of resources such as offshore support vessels (OSVs) and drillships being deactivated for potentially extended periods. Over time, however, cycles reverse and demand increases for these same assets.Operators reduced expenditures on offshore exploration and production activities, with a subsequent lower demand for these offshore assets, many of which were ultimately deactivated and laid-up (or “stacked”) for extended periods.