Plexus to supply POS-GRIP wellhead equipment to Centrica

Oil and gas engineering services business Plexus Holdings has obtained a contract from Centrica Energy Norway to supply POS-GRIP surface exploration wellhead equipment and services.

Under the contract, Plexus will supply its POS-GRIP 18-3/4in surface wellhead system for a low-pressure (5,000psi) exploration well and mudline suspension system.

The contract, which has been awarded for oil exploration activities offshore Norway, is worth around £900,000 and is expected to commence in April 2014.

Plexus’ new well order is its third project with Centrica under its existing contract as announced on 7 October 2013.

The current order was recently extended to 28 February 2015, and now the well order is the first under the extension.

Plexus CEO Ben Van Bilderbeek said: “The latest win further highlights the support that our POS-GRIP technology has with leading oil and gas majors for its safety, time- and cost-saving capabilities as the wider industry increasingly demands best-in-class equipment for all drilling activities.

“As we continue to maintain a dominant market presence in the North Sea with contracts in place such as ours with Centrica, recent recommendations made in Sir Ian Wood’s ‘UKCS Maximising Recovery Review’ in February of this year in relation to the UKCS come as welcome news.

“The report emphasised the importance of making more of the UK’s HP/HT resource potential by deploying the best and most cost-effective technology and leveraging the capabilities of the UK’s own oil and gas supply chain.

“It was even more welcome to see incentives such as the proposed HP/HT allowance included in the recent UK budget, which means that Plexus will be well-placed to take advantage of any increase in activity in the UKCS as a result of these government initiatives.”