Well-Safe Solutions Targets Lucrative Australian Offshore Decommissioning Market
Posted 20/07/2023 12:43
UK-based offshore well plug and abandonment company, Well-Safe Solutions, is setting its sights on expanding into the Asia Pacific region. To spearhead this venture, they have appointed Massimo Delia as General Manager of the newly-created Well-Safe Solutions Pty Ltd in Perth, Western Australia. Delia brings more than 20 years of subsea commercial and engineering experience in various strategic and managerial roles.
Well-Safe Solutions is eyeing the Australian offshore oil and gas decommissioning market, which holds immense potential, with the Centre of Decommissioning Australia's (CODA) initial assessment estimating over A$50 billion of work ahead. The majority of this spending will involve well plug and abandonment and pipeline removal. Over 1,000 offshore wells need to be abandoned, and there is also a substantial onshore decommissioning market.
Expressing his excitement, Delia stated that he had observed Well-Safe Solutions' remarkable growth in Europe, including the enhanced capabilities of its Subsurface and Well Engineering team and the mobilization of all three well plug and abandonment assets for the first time in the company's history. He looks forward to contributing to the company's future growth and collaborating with colleagues, clients, and stakeholders in both the UK and Australia.
Well-Safe Solutions' CEO, Phil Milton, emphasized that Delia would play a crucial role in leveraging the company's capabilities and track record to form partnerships with operators and stakeholders in Australia and Asia. The company aims to undertake offshore and onshore well decommissioning projects, leveraging the engineering expertise and supply chain already present in the region.
Milton described Well-Safe Solutions as the first Tier 1 company to offer complete well plug and abandonment capabilities under one roof, from front-end engineering and design to project delivery, specialist engineering support, and closeout.
With their engineering expertise featured in over 400 wells worldwide and 70+ wells decommissioned or scheduled for decommissioning in the North Sea alone, Well-Safe Solutions is well-positioned to fulfill its mission of providing safe, efficient, and collaborative well plug and abandonment operations.
Earlier in 2023, Well-Safe Solutions proudly announced that all three well plug and abandonment assets - the Well-Safe Guardian, Well-Safe Protector, and Well-Safe Defender – had secured firm contracts with options until at least mid-2024, indicating a strong foundation for their expansion into the Australian market.