According to embodiments, a modified casing buoyancy system is provided for use as either one or both a casing buoyancy tool during casing operations and a cement plug during cementing operations, the apparatus being operably connected to a casing string and having at least two tubulars, wherein a portion of at least one (outer) tubular comprises at least one connector for controllably releasing said tubular downhole, and at least a portion of the other (inner) tubular comprises a dissolvable portion for controllably degrading thereof.