Plexus Holdings has secured a new customer via a £3.3 million contract win with oil and gas major, Total E&P Norge AS, to supply its POS-GRIP wellhead systems, associated equipment and mudline services for Total's Ultra High Pressure/High Temperature Solaris gas exploration well in the Graben area of the North Sea, offshore Norway. Revenues for the contract are scheduled to commence in October 2015. This contract win is in line with Plexus' strategy to increase its global presence as a leading supplier of best in classwellhead equipment in terms of performance, reliability and safety for exploration, production and subsea activities.
Notably Plexus was identified as the most suitable candidate for this project due to the unique adjustable nature of its wellhead systems. Plexus' wellhead systems can safely operate through the BOP within X-HP/HT conditions estimated at up to 17,000 - 19,000 psi maximum well pressure, whilst supporting casing at the ocean floor on its proprietary mudline hanger system. Solaris is located close to BG Norge's Mandarin East well, which is also known for its extreme high pressure conditions and initial data suggests that Solaris may be the highest pressure well in the North Sea to date. Under the terms of the contract, Plexus will supply its 18-3/4' XHP/HT POS-GRIP Jack-up drilling system.