International energy transition specialists Well-Safe Solutions have been awarded two new contracts totalling US$25 million for approximately 170 days of firm work, using the Well-Safe Protector jack-up and Well-Safe Defender semi-submersible.
The scopes comprise of well decommissioning activity in the UK Continental Shelf for Spirit Energy and an additional global operator.
Both include options for a further combined duration of up to 140 days in 2025 and 2026 – worth up to US$25 million in addition to the firm US$25 million backlog.
Spirit Energy have selected the Well-Safe Protector to decommission five wells on the York platform, located in Block 47/03a of the Southern North Sea, over 97 days.
Spirit Energy’s decision to award this scope to Well-Safe Solutions follows a successful campaign for both companies earlier in the year. The Well-Safe Defender previously decommissioned 15 subsea wells in the Trees, Chestnut and Appleton fields in just 11 months with 99.2% rig uptime, concluding work in March 2024.
The firm scope is planned to commence 2Q25 and will be performed in conjunction with the Well-Safe Protector’s current contract, with the two optional subsea wells to be decommissioned in direct continuation or deferred until a later date. The optional wells are projected to take circa 50 days.
Spirit Energy’s Head of Wells, Nicky Riley, said: “With York having reached the end of its economic life in the summer this year, 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. Together, we look forward to continue setting the standard for efficient, responsible decommissioning of assets at the end of their productive lives.”
In a separate agreement, the Well-Safe Defender will carry out a well decommissioning campaign on at least two subsea wells in the North Sea for a second unnamed client, beginning in March 2025 and lasting for 75 days, in direct continuation with the rig’s current contract.
This contract contains two optional subsea wells which may be added in direct continuation with the firm scope in 2025, plus a further three subsea wells to be executed during 2026.
Chris Hay, Chief Commercial Officer at Well-Safe Solutions, said: “Securing these contracts with an array of blue-chip operators – each with their own distinct requirements – demonstrates the flexibility of the Well-Safe Solutions offering in safely and efficiently liquidating ageing well stock.
Welcoming back Spirit Energy for another mutually-beneficial project is testament to the close cooperation and high performance we achieved together in our last campaign.
As the North Sea continues to face political and economic headwinds, it is heartening to see operators securing valuable North Sea assets amidst a backdrop of availability concerns and units departing the region.
Approximately 60% 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. We are proud to be collaborating with our clients as the industry moves towards a low-carbon future for the North Sea.”
This clutch of new contract wins follows on from the company’s recent expansion into Malaysia in September 2024, with the appointment of Adrin Shafil as Country Manager.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/18112024/well-safe-solutions-announces-north-sea-contracts-worth-us25-million/
