Well-Safe Solutions positioned to take advantage in uptick in well decom activity

Well-Safe Solutions positioned to take advantage in uptick in well decom activity

Well-Safe Solutions bosses have said higher oil prices, an easing of the pandemic and careful management of the firm’s cost base have positioned it to take advantage of an upturn in decommissioning activity.

Aberdeen-headquartered Well-Safe Solutions also said it was in “active discussions” with prospective clients about new contracts, while also getting back after projects which were curtailed by Covid.

The company did concede there was uncertainty around the speed and timing of contract awards, but said the downturn had not made the market any smaller.