Plexus bags POS-GRIP order from Premier
- Business & Finance
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP friction-grip method of wellhead engineering, has received an order from Premier Oil Norge to supply its POS-GRIP wellhead system for an exploration well in the Norwegian Central North Sea.
The company says that the well order is estimated at £1 million ($1.5 million) with revenues starting in August 2015.
Under the terms of the contract, Plexus will supply its 18-3/4″ POS-GRIP surface wellhead and mudline equipment to Premier Oil Norge for the Myrhauk standard pressure well.
Plexus CEO Ben Van Bilderbeek said, “As exploration and extraction of oil and gas moves deeper and becomes ever more complex, innovative, safe and effective wellhead technology is becoming increasingly critical across all pressure spectrums. With this in mind we are delighted to report a further contract win for the supply of our best in class POS-GRIP wellhead equipment as our technology continues to gain traction with leading international oil and gas majors.
“We view this as being testament to Plexus’ leadership of the North Sea HP/HT jack-up drilling exploration market, and is the benchmark we have set ourselves for other geographies, and in particular Asia as we look to build Plexus into a leading global oil and gas services provider.”