Well-Safe Solutions has announced two new contracts worth $25 million for well decommissioning activities in the North Sea.
The deals, which include options for an additional $25 million, mark a significant milestone for the energy transition specialist.
The firm work, totalling approximately 170 days, will utilise Well-Safe Solutions’ jack-up rig Well-Safe Protector and semi-submersible Well-Safe Defender.
Spirit Energy has contracted the Well-Safe Protector to decommission five wells on the York platform in the Southern North Sea over a 97-day period.
This latest contract builds on a successful collaboration earlier this year, where the Well-Safe Defender decommissioned 15 subsea wells for Spirit Energy with an impressive 99.2 per cent rig uptime.
The new project is set to commence in Q2 2025, with options for two additional subsea wells.
In a separate agreement, an unnamed global operator has engaged the Well-Safe Defender for a 75-day campaign to decommission at least two subsea wells, starting in March 2025.
This contract includes options for two more wells in 2025 and three in 2026.
Nicky Riley, Head of Wells at Spirit Energy, commented on the partnership: “Spirit Energy has partnered effectively with Well-Safe Solutions to ensure swift and responsible decommissioning of the asset.
“This builds on the success of our previous collaborations on the Chestnut, Trees and Appleton fields.”
Chris Hay, Chief Commercial Officer at Well-Safe Solutions, highlighted the significance of these contracts: “Securing these contracts with an array of blue-chip operators demonstrates the flexibility of the Well-Safe Solutions offering in safely and efficiently liquidating ageing well stock.”
Hay also noted the importance of decommissioning in the region’s future: “Approximately 60 per cent of the UKCS’ topside and subsea decommissioning is set to occur between 2026 and 2032, making this a key growth industry for the UK and Scotland alike.”
These contract wins follow Well-Safe Solutions’ recent expansion into Malaysia, marking the company’s growing presence in the global decommissioning market.
