Well-Safe Solutions introduced the acquisition of the West Epsilon jack-up rig from Seadrill sparking one other job enhance for the corporate.
Built in 1993, the asset is a heavy-duty, harsh setting jack-up with an in depth and enviable operational historical past within the North Sea.
The information comes following the corporate’s acquisition of the Well-Safe Guardian in April 2019 and provides to their rising portfolio of bespoke decommissioning belongings. Well-Safe will begin work instantly on the newly renamed ‘Well-Safe Protector’ to undertake an improve and modification programme, able to deploy the unit particularly for enhanced plug and abandonment tasks in early 2021.
Phil Milton, CEO, Well-Safe Solutions mentioned: “The acquisition of this asset permits us to proceed to ship our imaginative and prescient and the enterprise mannequin that we got down to ship to the trade, giving us the flexibility to cowl each subsea wells and a number of platform tasks. We have remained focussed and dedicated to our technique and are delighted to have reached this settlement with Seadrill.
This additional funding into the enterprise not solely strengthens our providing however will drive additional recruitment with the creation of round 100 new jobs, which, throughout these occasions of nice uncertainty inside the trade, is welcome information.”
Operations on the improve and SPS renewal of the corporate’s first rig, the Well-Safe Guardian, had been paused earlier this 12 months as a result of COVID-19 pandemic. However, with operations now restarting and the addition of the Well-Safe Protector, Well-Safe is poised to be the primary UK firm offering a full, Tier 1, P&A specialist service from each a bespoke decommissioning semi-submersible and jack-up drilling rig, providing substantial value financial savings and environmental advantages to our clients.
With the trade’s variety of drilling models (each semi-submersible and jack-up’s) within the UKCS in decline by each retirement and chilly stacking, Well-Safe is bucking the pattern by investing closely of their fleet. Providing heat belongings with a full 5-year SPS able to undertake multi-operator, multi-well campaigns as a part of their ‘P&A Club’ providing, delivering the cost-savings that the trade and regulators want.
The acquisition will see Well-Safe’s staffing ranges rise each onshore and offshore ¬as the corporate continues preparations to deploy each the Well-Safe Guardian and the Well-Safe Protector in early 2021.
Notes to editors:
Founded in 2017, WSS is the first-of-its-kind tier one firm that gives an entire properly plug and abandon (P&A) functionality to the trade, from front-end engineering and design to venture execution. Well-Safe’s ground-breaking method to P&A brings collectively a wealth of oil and fuel experience and expertise, with vital funding in bespoke, match for goal, devoted marine and land-based belongings. Acknowledged as an organization that has what it takes to unravel one of many UK’s largest industrial challenges, Well-Safe is positioned to fulfill the wants and regulatory imperatives round decommissioning and expects to create 400 jobs over the subsequent three years.
(Source and picture: WELL-SAFE Solutions)
The submit P&A SPECIALIST WELL-SAFE SOLUTIONS ACQUIRES WEST EPSILON JACKUP FROM SEADRILL appeared first on Energy Global News.