The P&A work will take place in Q4 2023 and generate equipment rental revenues for Plexus in the region of £100,000
Plexus announces contract award for exact and centric equipment for a North Sea P&A project. (Credit: Keri Jackson from Pixabay)
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business, owner of the proprietary POS-GRIP friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, and exclusive Licensee to SLB (formerly Schlumberger Cameron) for its range of “EXACT” Adjustable Wellhead and “CENTRIC” Mudline systems, is pleased to announce a contract award for Exact and Centric equipment for a North Sea Plug and Abandonment (‘P&A’) project secured through its Licensor SLB for a leading North Sea operator.
The P&A work will take place in Q4 2023 and generate equipment rental revenues for Plexus in the region of £100,000. This collaborative work is an important milestone as it further builds on the ongoing relationship between the two companies, as well as Plexus’ growing reputation in the field of Adjustable Wellhead and Mudline technology.
Commenting on this new Plexus contract, Plexus’ CEO Ben Van Bilderbeek said: “Our continued growth into the expanding P&A market is highly encouraging particularly as this project utilises the Exact and Centric technology specifically designed to provide the safest and quickest tieback and drilling solutions for not only these types of P&A wells, but also exploration and appraisal wells.
“The contract is also an excellent example of the continued collaboration between SLB and Plexus where we believe that SLB recognises Plexus capabilities in Adjustable Wellhead and Mudline projects. We are confident that further opportunities for similar work will arise in the future.”
Source: Company Press Release