Built in 1993, the rig will be upgraded, modified, and renamed Well-Safe Protector. The company expects to deploy the unit specifically for enhanced plug and abandonment projects in early 2021.
Phil Milton, CEO of Well-Safe Solutions, said the acquisition is expected to create about 100 new jobs.
Operations on the upgrade and SPS renewal of the company’s first rig, the Well-Safe Guardian, were paused earlier this year due to the COVID-19 pandemic. However, operations are restarting, and the company also expects to deploy the semisubmersible early next year.