Well-Safe Solutions, a well abandonment service provider, announced the acquisition of the West Epsilon jackup rig from Seadrill. Built in 1993, the asset is a heavy-duty, harsh-environment jackup with an extensive operational history in the North Sea. The news comes following the company’s acquisition of the Well-Safe Guardian in April 2019 and adds to a growing portfolio of bespoke decommissioning assets.
Well-Safe will start work on the newly renamed “Well-Safe Protector” to undertake an upgrade and modification program and deploy the unit specifically for enhanced plug and abandonment projects in early 2021.
“The acquisition of this asset allows us to continue to deliver our vision and the business model that we set out to deliver to the industry, giving us the ability to cover both subsea wells and multiple platform projects,” Phil Milton, CEO, Well-Safe Solutions, said. “We have remained focussed and committed to our strategy and are delighted to have reached this agreement with Seadrill.”
“This further investment into the business not only strengthens our offering but will drive further recruitment with the creation of around 100 new jobs, which, during these times of great uncertainty within the industry, is welcome news,” Mr Milton added.
According to the company, the acquisition will see Well-Safe’s staffing levels rise both onshore and offshore as the company continues preparations to deploy both the Well-Safe Guardian and the Well-Safe Protector in early 2021.