Plexus forms equipment supply JV with BEL Valves
- Business & Finance
Oil and gas services firm Plexus has formed a majority-owned joint venture, which will supply the company with surface production Xmas trees and wellhead annulus outlet valves.
The formation of the JV between Plexus and BEL Valves, named Plexus Pressure Control (PPC), followed last year’s sale of its jack-up exploration wellhead rental business to TechnipFMC.
Plexus said that the “operators typically purchase wellheads as a package together with a production Xmas tree and side outlet valves.”
The company added that it would supply the JV with its POS-GRIP “HG” technology and products associated with Xmas trees, while BEL Valves would supply the JV with critical valve components and technology.
BEL Valves is a UK-based valve company which designs and manufactures valves and actuators and typically focuses on applications downstream of the wellhead and tree systems.
It supplies valve equipment and technology for challenging high spec applications such as high pressure/high temperature and subsea projects.
PPC will be based in Plexus’ facility in Dyce, Aberdeen, so that all project planning, procurement, and product integration work can be delivered from a single point to the customer. Although Plexus anticipates that both the “HG” production wellhead and PPC tree will be largely maintenance free, any after-market work will also take place at the same facility.
Plexus’ CEO Ben Van Bilderbeek said: “The formation of PPC enables Plexus to supply Xmas trees as part of a ‘package solution’ for the first time.
“It is a key step in our company’s evolution and ambition to provide the industry with wellheads and associated products, which are gas-tight and methane leak free. With the long-term field history and extensive qualification testing already demonstrated with the tree and valve products which Plexus now has full access to, we are confident that we can now truly provide the complete package to our customer.”
BEL Valves’ CEO Bruce Heppenstall, said: “Our valves and Plexus’ wellhead systems are an excellent fit. Both deliver the highest standards in performance, reliability and safety and both have a proven track record in operating in extreme HP/HT environments. We at BEL Valves are looking forward to working with Plexus to offer operators a complete surface package, which we believe delivers the best solution available by far.”
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