Well-Safe Solutions Secures Major Decommissioning Contract with EnQuest

Well-Safe Solutions, an Aberdeen-based firm, has recently announced the successful securing of a significant decommissioning contract with EnQuest. This contract is projected to generate over $45 million in revenue and position the company for long-term activity in the North Sea.

The key highlight of this contract is the deployment of Well-Safe Solutions’ semi-submersible rig, named Well-Safe Defender. The rig is scheduled to undertake a minimum of 100 days of work in 2026, followed by at least 130 days in 2027. Additionally, the contract includes options for further work between 2028 and 2034.

This contract award comes at a crucial time for Well-Safe Solutions, providing stability in a tight market where rig availability is becoming increasingly constrained. Currently, only seven semi-submersibles are positioned in or near the region, with many either committed or stacked.

Well-Safe Solutions has a track record of successful campaigns for UKCS clients utilizing both the Well-Safe Defender and its sister unit, Well-Safe Protector.

Phil Milton, CEO at Well-Safe Solutions, expressed excitement about this contract, labeling it as a “pivotal moment” for the company that sets the stage for the next phase of growth.