A spokesperson for Aberdeen-headquartered Properly-Secure Options has confirmed to Rigzone that the corporate intends to cut back jobs.
“The knock-on results of the Vitality Income Levy (EPL) have seen spend delayed on decommissioning throughout the business, which is affecting each our rig and engineering exercise,” the spokesperson instructed Rigzone.
“It’s with remorse that Properly-Secure Options confirms its intention to cut back positions aboard the Properly-Secure Guardian whereas it’s on standby. We should additionally resize our onshore staff to replicate the discount in exercise all through 2025,” the spokesperson added.
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The Properly-Secure spokesperson mentioned the corporate at present going by means of a collective session course of “exploring choices to safeguard as many colleagues as attainable and are supporting them by means of this difficult time”.
“It’s proposed that 45 positions could also be affected onshore. With the Properly-Secure Guardian on standby, we are going to retain 34 positions onboard in readiness for our return to a shopper challenge,” the spokesperson added.
“This isn’t a place we anticipated to search out ourselves in, however we should make this tough determination now to guard the enterprise forward of an anticipated improve in world challenge availability for 2026 and past,” the spokesperson continued.
The Properly-Secure spokesperson instructed Rigzone that the Properly-Secure Defender and Properly-Secure Protector usually are not affected by the present consultations.
“Properly-Secure Options is constant to deploy its personnel and belongings onto related tasks as we assist our shoppers to understand their vitality transition aims,” the spokesperson instructed Rigzone.
The EPL is a further short-term tax on an organization’s ring-fence earnings, an oil and fuel worth mechanism session posted on the UK authorities web site on March 5 states, highlighting that the measure was launched in Could 2022.
“The levy was carried out in response to extraordinary earnings made by oil and fuel corporations pushed by world occasions, together with resurgent demand for vitality put up Covid-19 and the invasion of Ukraine by Russia,” the session notes.
Set at a fee of 38 p.c, the levy takes the headline fee of tax on upstream oil and fuel actions to 78 p.c, the session states, including that the EPL will finish in March 2030 or earlier if each oil and fuel costs fall to, or under, costs set out within the Vitality Safety Funding Mechanism.
The session notes that, as soon as the EPL ends, the federal government is dedicated to making sure that there’s a everlasting mechanism in place to answer future oil and fuel worth shocks.
Rigzone contacted HM Treasury (HMT) and the UK Division for Vitality Safety and Web Zero (DESNZ) for touch upon Properly-Secure’s assertion. HMT declined to remark. DESNZ has not responded to Rigzone on the time of writing.
Properly-Secure Options describes itself on its web site as “the whole bundle for properly decommissioning”. The corporate’s fleet contains the Properly-Secure Guardian, the Properly-Secure Protector, and the Properly-Secure Defender, the corporate’s website exhibits.
The Properly-Secure Guardian is described on the corporate’s website as “a extremely environment friendly and skilled Earl & Wright 700 collection midwater semi-submersible unit, with a robust observe document in multi-well, multi-operator campaigns”.
The Properly-Secure Protector is described on the positioning as “a heavy responsibility, harsh setting unbiased leg cantilever design jack-up rig with an intensive, enviable historical past within the North Sea” and the Properly-Secure Defender is described as “an enhanced pacesetter semi-submersible asset”.
In a launch posted on its web site final month, Properly-Secure Options introduced that it had obtained an additional contract extension from Italian vitality main Eni Vitality Netherlands BV to decommission chosen subsea and platform wells throughout Eni’s portfolio within the Dutch sector of the North Sea.
“Eni have lately exercised one other 90-day possibility for the Properly-Secure Protector jack-up asset underneath a newly agreed contract modification. This work is to be executed in direct continuation with the beforehand declared possibility which commenced in November 2024,” Properly-Secure mentioned in that launch.
“Upon the completion of this newest possibility with Eni, the Properly-Secure Protector will transfer instantly onto the Spirit Vitality contract introduced by Properly-Secure Options in November 2024,” it added.
“These multi-operator commitments will see the Properly-Secure Protector dedicated till at the very least August 2025, with additional longer-term choices agreed with Eni as a part of the newly signed contract modification,” Properly-Secure continued.
To contact the writer, electronic mail andreas.exarheas@rigzone.com
