Well-Safe Solutions

H1 Building
Hill of Rubislaw, Anderson Drive
Aberdeen,  Aberdeenshire  AB15 6BL

United Kingdom
01224 548400
http://www.wellsafesolutions.com
  • Booth: 1161


A fully integrated "Tier 1" well abandonment service.

Offering a fully integrated "Tier 1" well abandonment service, with a P&A club. Providing the complete package, using their own bespoke marine and land based assets. Delivery safe, efficient well Plug and Abandonment operations in collaboration with clients resulting in cost reductions with open and transparent communication.


 Press Releases

  • http://www.wellsafesolutions.com/news/200m-investment/

    A major new entrant to North Sea decommissioning has been unveiled. Well-Safe Solutions, set up by a group of oil industry stalwarts - including Alasdair Locke, Mark Patterson, and Paul Warwick - will provide a ground-breaking approach to the safe and cost-efficient decommissioning of subsea wells.

    The new start company, which aims to attract £200million in investment and create 400 new jobs, will offer a specialist well abandonment service that allows operators to meet the challenges and regulatory imperatives around decommissioning, while significantly reducing costs.

    Well-Safe has secured funding from Scottish Enterprise, including investment from the Scottish Investment Bank and a regional selective assistance grant, in addition to the initial private funding provided by the major shareholders, which will enable the company to invest in assets and create jobs.

    Bringing together a wealth of subsea oil and gas expertise and experience with dedicated marine assets and equipment, Well-Safe will be the first-of-its-kind tier one company with a complete P&A (plug and abandonment) capability from front-end engineering and design to project execution.

    Executive Director, Mark Patterson, explained: “The liability for late life, non-producing assets remains with the operator. This liability can be reduced via well P&A operations, but the timing on the decision to make these wells safe is heavily influenced by cost and the need for a new approach, working hand-in-hand with major operators.

    “The market dynamics in oil and gas have changed significantly. Before the collapse in oil price, operators were focused on maximising production, costs were very high and assets scarce and, with no real regulatory imperative, decommissioning was pushed back. Cost and safety are still paramount but operators are now having to face up to the well abandonment challenge. They need to prioritise decommissioning activity and, with an increasing stock of “shut-in” wells, more incentives, low asset utilisation and therefore lower rates, the economics for P&A have become more compelling.”

    Well-Safe aims to capitalise on this opportunity by offering an innovative funding model through a campaign-based approach that will enable sharing of knowledge across operating companies. Through a differentiated contracting strategy that will leverage economies of scale and challenge the “norm”, Well-Safe will manage projects efficiently and safely, while delivering clear savings.

    Within a highly fragmented market, the new-start company will take away the need for contracts with multiple service providers and instead offer a “one-stop-shop” for operators’ P&A requirements.

    “As the focal point of contact for the operator, we will take care of the planning, logistics and execution through our experienced personnel and our dedicated rigs or vessels via one, single contract,” explained Mr Patterson. “By combining competitive asset day rates with long-term service and support contracts at a fixed day rate, we will be able to offer higher efficiency and utilisation at lower cost.”

    Well-Safe is looking to acquire high quality assets to carry out well abandonment work, including a semi-submersible rig, jack-up rig and light-weight intervention vessel. “As owners of these assets, we can guarantee they will not be diverted to other drilling
    operations but used and mobilised exclusively for P&A activity. With this certainty over availability, we can secure long-term commitments from operators and have full control over scheduling of long-term well P&A campaigns,” added Mr Patterson

    Alasdair Locke, who co-founded Abbot Group in 1992 and served as its chief executive officer is a major investor and will take up the role of non-executive chairman of Well-Safe. He said: “The industry has been desperately seeking much more cost-efficient ways to tackle late-life activity and I strongly believe Well-Safe’s business model provides the solution. It will however require collaboration from operators and government, but if we think smarter and work hand-in-hand with stakeholders we can revolutionise how we deliver subsea well decommissioning."

    “Well-Safe Solutions is committed to providing a world-class offering and has the skills, tools and experience to become the market leaders in this exciting, yet challenging phase of our industry. I am honoured to be given the opportunity to re-engage with the sector at this pivotal time and support Well-Safe achieve what it has set out to do, alongside my fellow shareholders.”

    Expenditure on well abandonment in the UK Continental Shelf is forecast to double to £1.1billion in 2017. Around 5,000 wells, of which 1,000 are subsea, require to be decommissioned in the North Sea. Well P&A activity accounts for around 60% of the overall costs associated with decommissioning. Well-Safe will work closely with operators and industry bodies while navigating the complex regulatory process, driving change, transparency and ensuring tax efficiency.

    Mr Patterson added: “We’ve already attracted some of the most experienced people in the industry with the relevant knowledge of subsea wells to create a centre of excellence in P&A. The next step will be to acquire some of the best-in-class drilling rigs, vessels and equipment that will be able to take on any P&A operation. This is absolutely the right time for a new entrant to invest in key assets and people to build a market-leading decommissioning company for the future.”

    Mr Patterson and Alasdair Lock are the major shareholders. Among the other industry heavy-hitters is Paul Warwick, formerly executive director for Repsol SA, executive vice president for Talisman Energy Inc. and regional president of ConocoPhillips Inc.

    Mr Warwick added: “From an operator’s perspective, Well-Safe’s offering will be highly compelling. There is no better time for a new entrant to invest in key assets and people to build a market-leading decommissioning company for the future. Well-Safe is responding to the industry’s needs by delivering a service which is long overdue. With a strong management team and solid investor backing, I am pleased to be supporting a company that has what it takes to solve one of the UK’s biggest industrial challenges.”

    Kerry Sharp, Director of the Scottish Investment Bank from Scottish Enterprise, said: “To remain at the forefront of the global oil and gas sector, Scotland has to adopt new approaches and innovation and also be ready to make the most of the new opportunities when they appear. Well-Safe is a good example of a company taking advantage of the current decommissioning market opportunity, by adopting new approaches, and it will support another area of growth within the oil and gas sector, with the potential to generate a material number of new jobs and benefit from new international opportunities.”

  • http://www.wellsafesolutions.com/news/decom/

    Well-Safe Solutions, a new entrant to the decommissioning market, has further strengthened its senior team with the appointment of Jim Christie as director of projects.

    The specialist well abandonment company, launched in July this year, has already assembled a senior team of eight well-known industry experts and now employs 20 people.

    Well-Safe has just signed a five year lease for 4,400 square feet to accommodate over 60 people at Hill of Rubislaw in Aberdeen and will be moving in this week. The prestigious, newly refurbished offices have flexible open-plan and office space which can be increased as the company grows.

    Aiming to become a major tier 1 well abandonment service company, Well-Safe will provide a fully integrated package using its own bespoke marine assets to help oil and gas operators to meet the challenges of safe and cost-efficient decommissioning of subsea wells.

    The appointment of Mr Christie follows hot on the heels of the company’s first acquisition and recruitment of the chief executive officer, a chief technical officer and commercial director.

    Formerly head of decommissioning with the OGA, Mr Christie has 35 years’ experience in oil and gas, civil engineering, construction, refining, power, transportation and ship-building with extensive expertise in offshore decommissioning in the US and the UK, working with owners, regulators and the supply chain.

    Speaking at Offshore Europe, where Well-Safe has a high profile presence in the Decom Zone, founder and executive director, Mark Patterson, said: “Jim’s appointment is highly significant and a major boost in our ambition to become a leader in plug and abandonment in the decommissioning sector.

    “Retaining and sharing lessons learned, we will deliver safe, efficient well P&A operations in collaboration with our clients and stakeholders which result in significant cost reductions. 

    “The response from industry since our launch has been incredible and we are gaining huge support for our complete package offering.” 

     As head of decommissioning for the OGA, Jim was responsible for the development of the UK’s decommissioning strategy, working in collaboration with the industry and government. 

    “As we seek to work hand-in-hand with the regulator to support operators in navigating the complex regulatory process, with a view to driving change and transparency while ensuring tax efficiency, Jim’s experience will be invaluable to our team,” added Mr Patterson. 

    Prior to his role at the OGA, Mr Christie was global decommissioning projects manager with Marathon Oil in Houston. He joined Marathon in 1984 and has held various project management and project assurance roles for the operator, including working on decommissioning of the Brae Field. 

    Well-Safe has also announced the appointment of a director of finance. Alan Cormack joins the company with immediate effect. A qualified accountant with ten years’ experience in senior finance roles in the oil and gas industry, Mr Cormack joins from Raeburn Recruitment where he was head of finance. Before that, he worked with Mr Patterson as director of finance at Nautronix for almost a decade.

    Mr Patterson said: “Having Alan on board to take care of all our financial affairs is ideal. Having worked closely with him in the past, I have the utmost respect for and trust in his ability. He is a great addition to the team and will be instrumental in developing our back office support.”  

  • http://www.wellsafesolutions.com/news/well-safe-solutions-selects-dundee-onshore-marine-support-base/

    Well-Safe Solutions, the Aberdeen-based well abandonment specialist, has chosen to locate its onshore marine base in The Port of Dundee.

    The rapidly growing well abandonment specialist made the announcement at the Offshore Decommissioning Conference in St Andrews.

    Well-Safe has secured two acres of quayside facilities with access to 40,000 square feet of covered space at the Port of Dundee for its marine assets. 

    Combining a wealth of subsea oil and gas expertise and experience with dedicated marine assets and equipment, Well-Safe is the first-of-its-kind “Tier 1” company with complete P&A capability from front-end engineering and design to project execution.

    The Port of Dundee, which is rapidly establishing itself as a North Sea Decommissioning hub, will provide Well-Safe Solutions with direct access to deep water quaysides, heavy lifting capabilities, significant dedicated warehouse space and unconstrained access into the established and operating ANSS decommissioning facilities.

    Phil Milton, chief executive of Well-Safe Solutions, who is originally from Dundee said he welcomes the transformation of his home town in recent years.

    “This marine support base in Dundee will play a crucial role in supporting our rapidly growing business. We have chosen the Port of Dundee because of the critical mass of decommissioning companies already based here and the facilities on offer. We are looking forward to fostering a strong partnership with Forth Ports.

    “Personally, I’m very pleased to be able to bring business to the community in which I started out. Dundee continues its ongoing development, growing its economy and introducing new businesses with a proactive, refreshing, can-do approach.”

    At the port, Well-Safe Solutions will work alongside decommissioning industry leaders such as AF Offshore Decom, as part of the soon to be formed AF Dundee, waste management specialist Augean North Sea Services (ANSS), and other decommissioning specialists.

    Stuart Wallace, Chief Operating Officer of Forth Ports Limited which owns and operates the Port of Dundee, said: “Well-Safe Solutions will not only be a huge asset to the Port of Dundee, but will also provide an economic boost to the Dundee area.”

    “Decommissioning activity in the North Sea basin is increasing and we are excited to welcome Well-Safe Solutions, who are bringing innovation and expertise to the challenges of well abandonment.”

    Formed in July this year, Well-Safe Solutions provides a ground-breaking approach to the safe and cost-efficient decommissioning of Well Plug and Abandonment (P&A). Set up by high profile industry veterans including Alasdair Locke, Paul Warwick and Mark Patterson, Well-Safe offers a specialist subscription well abandonment service that allows operators to meet the challenges and regulatory imperatives around decommissioning, while significantly reducing cost.

    Bringing together a wealth of subsea oil and gas expertise and experience with dedicated marine assets and equipment, Well-Safe is the first-of-its-kind “Tier One” company with complete P&A capability from front-end engineering and design to project execution.

    The company, which has already secured its first contract with TAQA, has amassed an unrivalled pool of well plug and abandonment P&A with a string of high profile appointments, and is on track to have 30 employees by the end of this year at its Aberdeen headquarters.


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