The $1.2 billion deepwater Titan sat idle in a Singapore shipyard for five years, like an abandoned cruise ship with a derrick strapped to its deck. Spanning nearly three football fields, the ship will soon head to the deepest waters of the Gulf of Mexico, where its crew will be able to drill 8 miles below the ocean floor in search of oil. purlin Corporation
The hunt for offshore petroleum is on again, given the rise in global demand for energy, supply disruptions due to the war in Ukraine and crude oil prices that remain above historic levels. Other giant rigs such as the Titan that were inactive at the end of the last decade are now operating in deep waters off the coast of Brazil, while rigs lacking propulsion are mining shallow waters in the Middle East after hitching a ride in that part of the world. are doing. on tugboats.