Plexus Holdings PLC, the oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, has announced a new order worth £1.3 million from BG International Ltd.
BG International, a wholly owned subsidiary of BG Group plc, has asked Plexus to supply its 20,000 psi extreme high pressure and high temperature (‘X-HP/HT’) POS-GRIP wellhead technology for gas exploration drilling operations in the North Sea.
Revenues from the contract are expected to commence in November 2012.
This order follows on from a five year framework agreement signed between the two companies in 2006 which saw Plexus develop and supply BG International with 20,000 psi X-HP/HT POS-GRIP wellhead technology.
The original agreement was for several exploration wells in the North Sea which are now completed, or nearing completion, including the Jackdaw well.
Plexus CEO Ben van Bilderbeek said: “This follow on order for X-HP/HT 20,000 psi wellhead equipment with BG International further cements our position as the leading specialised wellhead services company within the HP/HT arena in the North Sea.”
“As drilling moves to more challenging terrains and pressures HP/HT wellhead equipment, which adheres to the highest safety standards, is becoming more and more recognised as a necessity by the oil and gas industry.”
stated Plexus CEO Ben van Bilderbeek
“With our patented POS-GRIP friction-grip which can be installed and serviced without removal of the blow-out preventer and which delivers automatic instant casing lockdown, we believe our technology is the ‘BAST’ – best and safest available technology in the HP/HT market today, and we expect to see our dominance in this arena continue to grow both in the North Sea and on an international level.”