Plexus bags its ninth order from Det norske
- Business & Finance
Plexus Holdings has received its ninth purchase order since 2012 from Det norske oljeselskap to supply surface wellhead and mudline equipment services for the Langfjellet standard pressure exploration well on the Norwegian Continental Shelf.
According to Plexus, an oil and gas engineering services business and owner of the proprietary POS-GRIP friction-grip method of wellhead engineering, the value of this order is estimated at approximately £0.6 million ($872,400) with revenues expected to start in August 2016.
Under the terms of the purchase order, Plexus said it would supply its 18-3/4″ 15M surface wellhead and mudline system. The well will be drilled using the Maersk Interceptor jack-up (XLE) class rig, which is expected to take circa 40 days.
Plexus’ CEO Ben Van Bilderbeek said, “Whilst global markets, including Russia and China, are expected to play a key role in Plexus’ growth strategy, our dominant position in the North Sea jack-up exploration sector and its scope for generating future business opportunities should not be ignored in view of the many billions of barrels of oil and gas equivalent that are still to be extracted.”