Skip to main content

Well-Safe Solutions announces agreement to add third rig to fleet

Published by
Oilfield Technology,


Well decommissioning specialists Well-Safe Solutions have announced that they have reached an agreement with Awilco Drilling to acquire the WilPhoenix semi-submersible rig – Well-Safe Solutions’ third asset acquisition in three years.

Built in 1983, the WilPhoenix is an established presence in the North Sea, having been extensively refurbished and upgraded in 2016. Well-Safe Solutions expect to take delivery of the rig in June 2022 and will carry out optimisation and recertification requirements for future well plug and abandonment (P&A) activity.

The rig acquisition – for an undisclosed sum – is expected to create around 100 jobs in a variety of onshore and offshore roles, in addition to the 231 personnel already employed by Well-Safe Solutions.

Phil Milton, Chief Executive Officer at Well-Safe Solutions, said: “The addition of our second semi-submersible rig, to be known as the Well-Safe Defender, is a landmark achievement for the business. “Strong demand for our other dedicated P&A semi-submersible rig, the Well-Safe Guardian, demonstrates a clear business case for the need for further specialised assets. We are very pleased to have reached an agreement with Awilco Drilling to integrate this well-regarded asset into our portfolio. The addition of a third specialist decommissioning rig enables Well-Safe Solutions to deliver upon our vision of being the industry’s trusted well decommissioning service partner of choice, and is in line with the company’s long-term growth strategy.”

Neil Ferguson, Operations Manager at Well-Safe Solutions, added: “The WilPhoenix has a strong track record and is the right candidate to undergo conversion for well P&A. We are dedicated to assisting the global energy sector in the transition to net zero and reconfiguring an existing asset for decommissioning activity enables our clients to take advantage of considerable financial savings and environmental benefits.”

Well-Safe Solutions is the first UK company with its own assets to provide a Tier 1 well decommissioning service focused exclusively on P&A, with the Aberdeen-headquartered company owning and operating the Well-Safe Guardian semi-submersible and Well-Safe Protector jack-up rig. The WilPhoenix is expected to enter service with its new owners as the Well-Safe Defender in late 2022.


Read the latest issue of Oilfield Technology in full for free: Spring 2022

Oilfield Technology’s first issue of 2022 begins with analysis from Wood Mackenzie on the disconnect between surging oil prices and US oil production growth and investment. The rest of the issue is dedicated to features covering sand removal technology, dissolvable frac plug technology, digitalisation of offshore operations, annular intervention, oilfield chemicals, subsea compression systems and smart instrument measurement.

Exclusive contributions come from TETRA Technologies, NOV, Archer, Expro, Locus Bio-Energy Solutions, AES Drilling Fluids, MAN Energy Solutions and Winters Instruments.

 

 

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/04052022/well-safe-solutions-announces-agreement-to-add-third-rig-to-fleet/

You might also like

Professor Andrew Woods reports on oil & gas industry safety risks

A report on the safety risk of working in confined spaces, developed by Professor Andrew Woods of the BP Institute at Cambridge University, indicates that many organisations in the oil & gas industries have been operating below the generally tolerable levels of safety risk.

 
 

Embed article link: (copy the HTML code below):