Abstract: A novel process and system is provided for protecting oil filed tubular goods such as subs, drill pipe, casings, tubing, drill collars, line pipe and the like having threaded or machined end coupling portions, against rust, pitting and moisture induced corrosion damage, wherein the machined, threaded or tool joint area of such tubular product are coated with grease, dope or like protective compounds and then is encased and protected against the weather and moisture attack by a shrinkable plastic wrapping enveloping end portions of the machined and grease coated tubular products protecting them by a shrink wrap encasement of low density polyethylene film or the like.