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Long-Term Wellhead Rental Contract


Published Jun 6, 2017
Plexus Holdings PLC logo

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 announced it has entered into a new 4-year contract with Maersk Oil North Sea UK Limited, for the provision of wellhead, mudline suspension systems and associated services.

The initial purchase order (‘PO’) is to prepare and provide POS-GRIP® HPHT Surface Wellhead systems and Tersus™ mudline suspension equipment on a stand-by basis ready to mobilise in the event of a relief wells needing to be drilled during the development of Maersk Culzean platforms. Revenues are expected to commence during the next Plexus financial year. The contract further provides for the supply of additional exploration wellhead equipment for future appraisal wells in the Culzean area during the contract term, and provides for a 1 year extension.

Plexus’ CEO Ben Van Bilderbeek says, “This is a fantastic contract for Plexus which will help to underpin our future revenues, as well as delivering the opportunity for further exploration well business with Maersk. It is also fitting that Plexus has been awarded this contract for the high profile Culzean Development, as we were involved in the initial exploration wells with Maersk in the Culzean field.”

Tags: Maersk Oil North Sea UK Limited, Plexus Holdings PLC




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