REPSOL SINOPEC AWARDS DECOMMISSIONING CONTRACT TO WELL-SAFE SOLUTIONS
Repsol Sinopec has awarded a multi-million-pound contract to Aberdeen-based Well-Safe Solutions to execute the decommissioning of all wells in its Buchan and Hannay fields.
The contract is the first fully-inclusive well decommissioning contract of its kind and enables Repsol Sinopec and Well-Safe Solutions to manage efficiencies, knowledge and cost. The schedule control provided as part of this contract enables Well-Safe to deliver its Plug & Abandon (P&A) Club approach helping to deliver a campaign-based approach aligned with the OGA Decommissioning Strategy.
The commercial model represents a step-change from a conventional transactional approach to an outcome-oriented model, empowering the supply chain to deliver the most innovative and efficient solution with a fair shared risk-management philosophy within the contract.
This shift in mind-set has taken considerable time and collaborative effort by both Repsol Sinopec and the supply chain in evolving, concluding and assuring the tender process for this contract.
The contract has been welcomed by OGUK and The Oil & Gas Authority (OGA) as a strong example of collaboration, campaigning and innovation.
Phil Milton, Chief Executive Officer at Well-Safe Solutions, said:
“This is a fantastic achievement for Well-Safe Solutions. Our team has worked closely with the team at Repsol Sinopec to develop a contracting delivery model that enables this project to be delivered in a manner that aligns with Repsol Sinopec’s decommissioning strategy, OGA’s decommissioning strategy and Well-Safe’s P&A Club approach. With complete schedule control this enables us to optimise our efficiencies, retain learnings and deliver a multi-operator, multi-well campaign.”
Founded in 2017, Well-Safe Solutions is the first-of-its-kind Tier One company that provides a complete well plug and abandon (P&A) capability to the industry, from front-end engineering and design to project execution.
(Source: Well-Safe Solutions – Image: Well-Safe Guardian semi-submersible in the port of Nigg, Scotland/Global Port Services)