A former Dundee businessman has been appointed chief executive of a specialist well abandonment company which was set up to capitalise on the significant decommissioning opportunities in the North Sea.
Phil Milton, the founder and managing director of Intervention Project Management (IPM), has been appointed chief executive officer of Well-Safe Solutions, which recently acquired IPM for an undisclosed sum.
Formed in 2007, IPM provides independent engineering, project management and consultancy services to the global oil and gas industry.
Specialising in well intervention, including plug and abandonment, and production optimisation, IPM has worked with an impressive portfolio of clients including CNR International, TAQA Brattani, Repsol-Sinopec ConocoPhillips, Chevron, Halliburton and Schlumberger.
Meanwhile, Well-Safe Solutions, which aims to attract £200million in investment and create 400 new jobs, offers a specialist well abandonment service that allows operators to meet the challenges and regulatory imperatives around decommissioning.
Established by Mark Patterson, Alasdair Locke and Paul Warwick, Well-Safe Solutions combines a wealth of subsea oil and gas expertise and experience with dedicated assets and equipment, to become the first-of-its-kind tier one ranging from front-end engineering and design to project execution.
Mr Patterson, said: “The acquisition of IPM gives us an excellent foundation on which to build our business. More importantly, with the appointment of Phil Milton to head up our wealth of expertise and experience, we are firmly on-track to establishing our authority and credibility in the market.”
With over 26 years’ experience in well engineering in the global oil and gas industry, Mr Milton has extensive technical knowledge which is underpinned by his credentials in the safe and efficient delivery of well services, workovers and well abandonment operations in the North Sea and beyond for CNR, Shell, BP, BG and Conoco.
This includes work on the Murchison P&A project and the Hutton TLP abandonment project.
In forming IPM, Mr Milton initially focused on supplying high calibre well engineering personnel to operators and the service sector.
The self-funded start-up quickly grew to become a respected and trusted provider of well engineering support and project management in the North Sea, West Coast of Africa and Australia.
