Gulf Oil and Gas accountACCOUNT

Plexus Signs £0.9m Well Order With Centrica Energy Norway

Source: 4/29/2014, Location: Europe

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, known for its safety, time and cost saving capabilities, announces that it has secured a new well order to supply its POS-GRIP surface exploration wellhead equipment and services under an existing contract with leading oil and gas company Centrica Energy Norway ('Centrica'). The value of the order is estimated at approximately £900,000 with revenues expected to commence in April 2014.

Plexus is supplying its POS-GRIP 18-3/4" Surface Wellhead System for a low pressure (5,000 psi) exploration well and mudline suspension system. The new well order, for oil exploration activities offshore Norway, is the Company's third project with Centrica under its existing contract as announced on 7 October 2013. This contract was recently extended to 28 February 2015, and today's well order is the first under the extension.

Plexus CEO Ben Van Bilderbeek said, "We are delighted to have secured another new wellhead order in the Norwegian North Sea with Centrica with whom we have a solid working relationship. 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.

"In addition, we are also committed to extending our global footprint. With new initiatives underway such as establishing a sales and service hub in Singapore to support our expansion into Asian markets, we believe we are well placed to deliver on our objectives and continue to win business for the rental of our POS-GRIP wellhead technology from both existing and new customers in the North Sea and further afield."

Christmas Tree/Wellhead Valves >>

Christmas Tree/Wellhead Valves News in United Kingdom >>

United Kingdom >>  8/3/2020 - Independent Oil and Gas plc ("IOG"), (IOG.L) is pleased to announce that it has awarded the Engineering, Procurement, Construction and Installation (E...
Cyprus >>  7/31/2020 - Hill International, the global leader in managing construction risk, was selected by the Natural Gas Infrastructure Company of Cyprus (ETYFA) to lead...

Norway >>  7/17/2020 - Aker Solutions is launching a series of structural and strategic changes to transform the company and enhance shareholder value by spinning off the wi...

Related Categories: Air Valves  Ball valves  Butterfly Valves  Check Valves  Christmas Tree/Wellhead Valves  Cone Valves  Control Valves  Diaphragm pilot control valves  Fire certified valves  Fire Hydrant  Gate Valves  General  Globe Valves  HP Butterfly Valves  IRIS Control valves  Knife Gate Valves  Metal Diaphragm Valves  Needle Valves  Pinch Tube Valves  Piston Pilot control valves  Piston Valves  Plastic Diaphragm Valves  Plastic Valves  Plug Valves  Pressure Relief Valves  Safety Valves  Sight Glass  Solenoid Valves  Steam Traps  Strainer  Valve Actuators  Valve Limit Switch  Valve Positioner 

Related Articles: Air Valves  Ball valves  Butterfly Valves  Check Valves  Christmas Tree/Wellhead Valves  Control Valves  Diaphragm pilot control valves  Gate Valves  General  Globe Valves  Needle Valves  Pressure Relief Valves  Safety Valves  Solenoid Valves  Steam Traps  Valve Actuators  Valve Positioner 

United Kingdom Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.