Well-Safe Solutions
Well-Safe Solutions is an Aberdeen-based Tier 1 well decommissioning contractor that owns three converted offshore rigs to deliver plug and abandonment, well operatorship, and engineering services to major oil and gas operators in the North Sea and Asia-Pacific.
- Company typePrivate
- Founded2017
- HeadquartersAberdeen, United Kingdom
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Well-Safe Solutions does
Well-Safe Solutions is an Aberdeen-headquartered, privately held Tier 1 well decommissioning contractor founded in August 2017. The company owns and operates three bespoke converted offshore assets, the Well-Safe Guardian semi-submersible (the only North Sea semi-submersible with saturation diving capability and exclusive UK access to Trendsetter Engineering's Trident Intervention System), the Well-Safe Protector jack-up rig, and the Well-Safe Defender semi-submersible, to deliver plug and abandonment (P&A), well operatorship, engineering packages, subsurface services, and drilling services for oil and gas operators in the UK and Dutch North Sea and increasingly in Asia-Pacific.
The company differentiates through its proprietary Well Decommissioning Delivery Process (WDDP), a gated methodology that moves projects from FEED through select, define, execute and close-out while capturing lessons learned; the P&A Club campaign model that batches wells from multiple operators to amortize mobilization costs and drive cumulative learning curves; and Digital Slickline Operations enabling simultaneous operations. Well-Safe is the world's first well decommissioning company to achieve OPITO Competence Management System approval and reports over two million working hours without a recordable incident, with rig uptime exceeding 98-99% across campaigns.
Well-Safe generates revenue through multi-year enterprise contracts with major operators such as EnQuest, Spirit Energy, Apache, bp, Neptune Energy, Ithaca Energy, Eni, Repsol Sinopec, and CNR International. Pricing is project-based and not publicly disclosed, but contracts specify firm activity levels (e.g., minimum 100 days in 2026, 130 days in 2027 on the EnQuest award, with revenue in excess of $45 million on that deal alone) and option extensions running through 2034. The company has raised over £150 million in total capital, with offices in Aberdeen, Perth (Asia-Pacific regional HQ), and Kuala Lumpur, and has expanded into adjacent services including CCUS legacy well support, geothermal project capabilities, and personnel deployment through the Well-Safe Resources service line.
Well-Safe Solutions firmographics
Firmographics- Name
- Well-Safe Solutions
- Legal name
- Well-Safe Solutions Ltd
- Website
- https://wellsafesolutions.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Well-Safe Solutions is an Aberdeen-based Tier 1 well decommissioning contractor that owns three converted offshore rigs to deliver plug and abandonment, well operatorship, and engineering services to major oil and gas operators in the North Sea and Asia-Pacific.
- Ownership category
- akta.pro rank
Well-Safe Solutions industry classification
Industry- Product category
- Oil and Gas Well Decommissioning Services
- NAICS
- Support Activities for Oil and Gas Operations (213112), Support Activities for Mining (21311)
- SIC
- Oil & Gas Field Services, Nec (1389), Oil & Gas Field Machinery & Equipment (3533)
- akta.pro primary industry
- Decommissioning, Plug & Abandonment (P&A) & Abandonment Liability Management (EUALAAAK)
- akta.pro secondary industries
- Subsea Services & Equipment (Subsea Trees, Umbilicals, Installation, IMR) (EUALABAI), Well Intervention, Workover & Integrity Management (EUALAAAJ)
Keywords
Where Well-Safe Solutions is headquartered
LocationHeadquarters
- HQ city
- Aberdeen
- HQ country
- United Kingdom
- HQ region
- Europe
Offices4 records
Markets served
Well-Safe Solutions business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain
Revenue model
- Well Decommissioning Services: Core revenue stream from plugging and abandoning (P&A) offshore wells using owned assets. Contracts typically include firm commitments with options for extensions, generating predictable backlog. Revenue recognized as work is executed over contract periods spanning months to multi-year engagements.
- Well Engineering and Project Management Services: Deploying specialist engineering and project management personnel to client teams. Part of Well-Safe Resources service line providing flexible staffing solutions.
- Energy Transition Services (CCUS and Geothermal): New service line for carbon capture and storage (CCS) legacy well support and geothermal project capabilities. Includes subsurface basis of design for well decommissioning and legacy well preparation for carbon storage.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Multi-year contracts with firm scope and optional extensions |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels4 records
Well-Safe Solutions product offering
Product offeringCore offering
Well-Safe Solutions delivers integrated well plug and abandonment (P&A) and full lifecycle decommissioning services for offshore oil and gas operators, using three owned bespoke marine assets (Well-Safe Guardian semi-submersible, Well-Safe Protector jack-up, Well-Safe Defender semi-submersible). The offering is structured around the proprietary Well Decommissioning Delivery Process (WDDP) and the P&A Club campaign model, covering platform and subsea well decommissioning, drilling, FEED engineering, subsurface, intervention/workover/completions, embedded engineering personnel, and energy transition services including CCUS legacy well support and geothermal projects.
Product overview
Well-Safe Solutions is the world's first Tier 1 contractor specializing in well decommissioning, offering a fully-integrated, Tier 1 capable model covering the full well lifecycle. The company operates three bespoke decommissioning assets: the Well-Safe Guardian semi-submersible (with exclusive saturation diving and Trident Intervention capabilities), the Well-Safe Protector jack-up rig, and the Well-Safe Defender semi-submersible. Core service offerings include well plug and abandonment (P&A), well operatorship, engineering packages, subsurface services, and energy transition services (CCUS/geothermal). The company employs its proprietary Well Decommissioning Delivery Process (WDDP) and P&A Club campaign model to deliver cost-efficient, multi-well, multi-operator decommissioning. Services are delivered from the company's Aberdeen headquarters with international operations across Asia-Pacific (Australia, Malaysia) and the Dutch North Sea.
Differentiator
Problem solved
Functional benefit
Brands
- Well-Safe Resources: A new business function focusing on deploying market-leading well engineering and project management talent worldwide.
- Well-Safe Solutions Pty Ltd
Products and services
- Well Decommissioning (Plug and Abandonment) Core service involving the permanent sealing and abandonment (plugging and abandonment) of oil and gas wells, including both platform wells and subsea wells in offshore environments, executed using owned marine assets for major oil and gas operators.
- Well Operatorship Full Well Operatorship and asset execution service providing operations management from planning through execution, including subsurface analysis, well design engineering, and rig and support vessel provision for clients under single integrated contracts.
- P&A Club Campaign-based approach to well abandonment that batches wells from multiple operators for sequential decommissioning, providing cost certainty, schedule flexibility and leverage of cumulative experience across hundreds of wells.
- Drilling Services Comprehensive drilling services supporting the full well lifecycle from initial drilling through to decommissioning, delivered through owned marine drilling assets.
- Engineering Packages Front-end engineering and design (FEED) services for well decommissioning projects, including subsurface basis of design studies, used to scope and plan integrated decommissioning programmes.
- Subsurface Services Subsurface well plug and abandonment design services including geophysical analysis, subsurface isolation strategy and ALARP-based well decommissioning design.
- Well Intervention, Workover and Completions Specialised intervention services for well maintenance, workover operations and completion activities supporting the well lifecycle.
- Strategic Planning Strategic planning services for well lifecycle management and decommissioning programme development.
- People Services (Well-Safe Resources) Deployment of well engineering and project management talent worldwide, embedding specialist personnel with operator teams to support client projects.
- Energy Transition Services Carbon capture and storage (CCS) legacy well support and geothermal project capabilities, including well preparation for carbon storage and bespoke services maximising economies of scale for energy transition projects.
Quantifiable outcome
- 15% total cost reduction and 44 days faster decommissioning compared to conventional LWIV and MODU approach
- +4 more outcomes
Companies that use Well-Safe Solutions
Customer profileNamed customers9 records
Segments3 records
Ideal customer profiles2 records
Well-Safe Solutions technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Well-Safe Solutions partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- Apache North Sea LimitedcoreMulti-year contract to decommission platform wells and subsea wells at the Forties Field, inaugurated by the Queen in November 1975. Well-Safe leading all well-related project management, well and subsurface engineering, and offshore delivery of platform and subsea wells. Work begins 2026.
- EnQuestcoreLandmark multi-year contract using Well-Safe Defender for UKCS well decommissioning. Firm scope generating revenue in excess of $45 million with minimum 100 days in 2026 and 130 days in 2027, plus options for further activity between 2028 and 2034. Creates multi-year strategic partnership securing supply chain resources into the next decade.
- Eni Energy Netherlands BVcoreContract extension for Well-Safe Protector to decommission selected subsea and platform wells across Eni's portfolio in the Dutch sector of the North Sea. 90-day option exercised in direct continuation with previously declared option from November 2024. Additional 120-day and two 180-day options available.
- bpcoreGlobal master agreement with bp lasting until at least September 2026, with two one-year contract extension options available. Well-Safe provides bp with project management, well engineering, engineering design and well decommissioning services. This followed earlier work decommissioning wells in the Kate field.
- RockSalt SubseaminorDiving services partnership supporting Well-Safe Solutions with diving services and personnel during all saturated diving operations from the Well-Safe Guardian semi-submersible.
- PD&MS GroupminorPartnership to implement Carbon Management Reduction Plan (CMRP) as part of Well-Safe's commitment to sustainable working practices. PD&MS assists in establishing emissions baseline and identifying opportunities to reduce carbon footprint and optimize energy efficiency across all Well-Safe assets and headquarters.
- Apache CorporationcoreMulti-year framework agreement to decommission wells in the North Sea as part of Well-Safe's P&A Club offering. Provides Apache access to Well-Safe Defender and Well-Safe Guardian assets. Apache has secured slots for Well-Safe to plug and abandon subsea wells in UK Continental Shelf starting 2024.
- Neptune EnergycoreContract for Well-Safe Protector jack-up rig to plug and abandon at least 4 subsea and 21 platform wells in Dutch and UK sectors of the North Sea. One-year firm contract with option of up to eight three-month extensions.
- Trendsetter Engineering, Inc.corePartnership to fit Well-Safe Guardian with Trident Intervention System - a compact yet powerful modular system configurable for hydraulic intervention, riserless light well intervention and open water intervention riser operations. Well-Safe has exclusive access to the system in the UK for well P&A.
Scale indicators10 records
Recent moves9 records
Expansion highlights6 records
Well-Safe Solutions competitors and assessment
Company assessmentBroad incumbents
- Aker Solutions: Aker Solutions is a large Norwegian oilfield services and engineering company with significant decommissioning and subsea capabilities including well engineering and P&A services. As a broad incumbent with global scale, they compete with Well-Safe in North Sea decommissioning and well engineering.
- Worley: Worley is a global engineering, procurement, and project services firm with a dedicated decommissioning practice covering well P&A, engineering, and project management. Their well engineering and decommissioning advisory work competes with Well-Safe's Engineering Packages and subsurface services.
- Saipem: Saipem is a global engineering and oilfield services company with offshore drilling rigs (Scarabeo, Perro Negro) and decommissioning capabilities. They serve similar North Sea and international oil and gas operators as Well-Safe but across a much broader portfolio.
- Subsea 7: Subsea 7 is a global subsea engineering, construction, and services company that has expanded into offshore decommissioning including well P&A. Their subsea tree removal and intervention capabilities overlap with Well-Safe's subsea wellhead and Trident Intervention System offerings.
- Petrofac: Petrofac is an international energy services provider with well engineering, drilling, and decommissioning capabilities including P&A services. They serve similar North Sea and international operator clients as Well-Safe with a broader portfolio of services.
- Heerema Marine Contractors: Heerema is a world-leading offshore contractor specializing in transport, installation, and removal of offshore structures. Their decommissioning work on North Sea platforms and subsea infrastructure is adjacent and complementary to Well-Safe's well P&A focus.
Direct peers
- Stena Drilling: Stena Drilling is a global harsh-environment drilling contractor whose rigs are increasingly repurposed for well decommissioning work in the North Sea. Like Well-Safe, they own and operate rigs capable of P&A campaigns for major operators, making them a direct comparability peer.
- Helix Energy Solutions Group: Helix is a US-based offshore well intervention and decommissioning specialist that owns the Q4000 and Q5000 vessels for well P&A operations. They share Well-Safe's specialist decommissioning model with owned marine assets serving major oil and gas operators globally.
- AF Offshore Decom (AFOD): AFOD is the offshore decommissioning arm of Norwegian AF Gruppen, focused on platform and subsea removal in the North Sea. Comparable to Well-Safe as a Tier 1 specialist in well-adjacent offshore decommissioning, though with more focus on topsides removal than well P&A.
- AGR (now part of Aker Solutions): AGR historically operated as a well management and decommissioning consultancy providing subsurface engineering and P&A project management. Now part of Aker Solutions, the legacy AGR business is directly comparable to Well-Safe's Well-Safe Resources and Engineering Packages service lines.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Well-Safe Solutions social profiles
Digital presenceWell-Safe Solutions compliance and trust
Trust signalCompliance2 records
Well-Safe Solutions financial estimates
Financial estimateRevenue estimate
Valuation estimate
Well-Safe Solutions leadership team
Management profileNumber of profiles
Profiles14 records
Well-Safe Solutions subsidiaries and ownership
Company hierarchySubsidiaries5 records
Well-Safe Solutions funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Well-Safe Solutions M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Well-Safe Solutions
What does Well-Safe Solutions do?
Well-Safe Solutions delivers integrated well plug and abandonment (P&A) and full lifecycle decommissioning services for offshore oil and gas operators, using three owned bespoke marine assets (Well-Safe Guardian semi-submersible, Well-Safe Protector jack-up, Well-Safe Defender semi-submersible). The offering is structured around the proprietary Well Decommissioning Delivery Process (WDDP) and the P&A Club campaign model, covering platform and subsea well decommissioning, drilling, FEED engineering, subsurface, intervention/workover/completions, embedded engineering personnel, and energy transition services including CCUS legacy well support and geothermal projects.
Is Well-Safe Solutions a public or private company?
Well-Safe Solutions is a private company. It is classified as venture growth investor backed and is currently operating.
When was Well-Safe Solutions founded?
Well-Safe Solutions was founded in 2017. It employs 251 to 500 people.
Where is Well-Safe Solutions based?
Well-Safe Solutions is headquartered in Aberdeen, United Kingdom, in the Europe region.
How does Well-Safe Solutions make money?
Three revenue lines are on record. Well Decommissioning Services are the primary driver. The others are well Engineering and Project Management Services and energy Transition Services (CCUS and Geothermal).
Who are Well-Safe Solutions's main competitors?
Broad incumbents on record are Aker Solutions, Worley, Saipem, Subsea 7, Petrofac and Heerema Marine Contractors. Direct peers are Stena Drilling, Helix Energy Solutions Group, AF Offshore Decom (AFOD) and AGR (now part of Aker Solutions).
Does Well-Safe Solutions have an API?
No public API is recorded for Well-Safe Solutions.
What industry is Well-Safe Solutions in?
Well-Safe Solutions's product category is Oil and Gas Well Decommissioning Services. Its primary akta.pro industry code is EUALAAAK, Decommissioning, Plug & Abandonment (P&A) & Abandonment Liability Management, with a secondary code of EUALABAI, Subsea Services & Equipment (Subsea Trees, Umbilicals, Installation, IMR). Its NAICS code is 213112 and its SIC code is 1389.