Specialist Well Abandonment Company Bolsters Management Team With Commercial And Technical Expertise
Well-Safe Solutions has announced the appointment of two more directors to lead the recently launched business which aims to become a market-leader in North Sea decommissioning.
A specialist well abandonment company, Well-Safe Solutions will help oil and gas operators to meet the challenges of safe and cost-efficient decommissioning of subsea wells.
Following the recent announcement of the company’s first acquisition and appointment of chief executive officer, Phil Milton, Well-Safe has bolstered its team of experienced experts with the appointments of Graeme Murray as legal and commercial director and Glenn Wilson as chief technical officer (CTO).
With a planned £200million investment and to create 400 new jobs, the start-up company is offering an integrated P&A (plug and abandonment) capability from front-end engineering and design to project execution.
Well-Safe Solutions has been set up by non-executive Chairman – Alasdair Locke, Mark Patterson and Paul Warwick.
Chief executive officer of Well-Safe Solutions, Phil Milton, said: “We’ve already assembled 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. With these new appointments and the strength of our executive, we now have what I believe is one of the strongest, most technically competent and well-connected management teams in the business.
“Graeme Murray’s legal and commercial expertise and track-record will underpin the roll-out of our differentiated contracting strategy, unique commercial model and innovative funding packages.
“New and enhanced techniques and technologies are key to the plugging and abandonment of subsea wells in a safe and cost-effective manner. As CTO, Glenn Wilson brings a wealth of engineering expertise and a proven track-record in decommissioning P&A programme management and delivery.”
“We will continue to invest in people and look to acquire assets to build a market-leading decommissioning company for the future, capable of taking on any P&A operation.”
Joining Well-Safe from Dolphin Drilling, where he was managing director, Mr Murray has over 27 years’ legal and commercial experience in oil and gas. He was previously general counsel, company secretary and vice-president for commercial and procurement with Subsea 7.
Mr Wilson joins Well-Safe from Repsol Sinopec where he was decommissioning programme manager. Prior to that he was decommissioning and UK operations manager for Hess Limited in Aberdeen during which time they undertook the largest UK based subsea P&A campaign to date. With over 30 years’ E&P experience in oil and gas asset life cycle management, Mr Wilson has held various senior roles, on and offshore for Hess, JP Kenny and Coflexip Stena Offshore.
Well-Safe Solutions has been set up to capitalise on the current opportunity for decommissioning which has come about through more compelling economics and market dynamics, including the number of shut-in wells, more incentives to tackle decommissioning and lower asset and day rates.
Well-Safe will work closely with operators and industry bodies while navigating the complex regulatory process, driving change, transparency and ensuring tax efficiency.