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 secured a new customer via a £3.3 million contract win with oil and gas major, Total E&P Norge AS (Total', to supply its POS-GRIP wellhead systems, associated equipment and mudline services for Total's Ultra High Pressure/High Temperature (X-HP/HT) 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 class wellhead 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.
Plexus' CEO Ben Van Bilderbeek said, "This contract confirms that even during challenging times, operators focus on the best and safest solutions, when conditions demand it. Plexus provides the superior solutions for jack-up drilling operations, because our technology combines the high pressure metal to metal sealing, with the ability to leave the Blowout Preventers (BOPs) on the well throughout the drilling programme. As exploring and extraction of gas goes deeper, is more complex and must be conducted in delicate environments; innovative, safe and effective wellhead technology becomes ever more important. Safety is in the detail and particularly wellheads cannot afford to be the weak link in the system and for this reason Plexus seeks to use unique metal seal technology which matches the integrity of casing couplings.
"Our Plexus team is proud to have been selected on this well, which is designed to cope with some of the highest pressures ever drilled in the Norwegian part of the North Sea. We are also delighted to be working with Total as a new client on this drilling project. Further, Total through one of its research groups, has worked with Plexus over the past four years on the development of a new generation subsea wellhead system, under the auspices of the "Python" Joint Industry Project (JIP). The Python JIP is sponsored by a number of major operating companies and will be launched at the Aberdeen Offshore Europe Oil show (OE2015) in September 2015."