WELL-Safe Solutions has announced the acquisition of the West Epsilon jack-up rig from Seadrill, in a move which will create 100 new jobs.
The news comes following the Cove-headquartered company’s acquisition of the Well-Safe Guardian in April 2019 and adds to their growing portfolio of bespoke decommissioning assets.
Well-Safe will start work immediately on the newly renamed ‘Well-Safe Protector’ to undertake an upgrade and modification programme, ready to deploy the unit specifically for enhanced plug and abandonment projects in early 2021.
The acquisition – for an undisclosed sum – will see 80 new jobs be based offshore, and most of the 20 new onshore positions will be in Aberdeen.
Phil Milton, Well-Safe Solutions chief executive officer, said: “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.
“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.”
Operations on the upgrade and SPS renewal of the company’s first rig, the Well-Safe Guardian, were paused earlier this year due to the COVID-19 pandemic.
However, with operations now restarting and the addition of the ‘Well-Safe Protector’, Well-Safe is poised to be the first UK company providing a full, Tier 1, P&A specialist service from both a bespoke decommissioning semi-submersible and jack-up drilling rig, offering substantial cost savings and environmental benefits to our customers.
The company expects to create 400 jobs over the next three years.