Well-Safe Solutions has secured a significant decommissioning contract with EnQuest, which is expected to generate over $45m in revenue and position the company for long-term activity in the North Sea.
The Aberdeen-based firm will deploy its semi-submersible rig Well-Safe Defender to carry out a minimum of 100 days of work in 2026, followed by at least 130 days in 2027. The contract also includes options for further work between 2028 and 2034,
Well-Safe said the award strengthens its orderbook and brings some welcome stability in a tight market, where rig availability has become increasingly constrained, noting that only seven semisubmersibles are currently positioned in or near the region, with many either committed or stacked.
The deal follows a series of successful campaigns for UKCS clients using both the Well-Safe Defender and sister unit Well-Safe Protector.
Phil Milton, CEO at Well-Safe Solutions, said the contract marks a “pivotal moment” for the company and sets the tone for the next phase of growth.
