Description of the project via Morris Architects' fact sheet:
"There are approximately 4,000 oil rigs in the Gulf of Mexico varying in size, depth and mobility that will be decommissioned within the next century. If a deck on one of these rigs is about 20,000 square feet, then there is potentially 80 million square feet of programmable space just off the coast of the United States. The current method for rig removal is explosion, which costs millions of dollars and destroys massive amounts of aquatic life. What if these rigs were recommissioned as exclusive resort islands? Could the Gulf be America's "Dubai" and the rig the artificial island on which to build it? This project examines the possibilities of creating a self-sufficient, eco-friendly high-end resort experience in our own backyard - the Gulf of Mexico."
Renderings and the full story at Curbed LA.