Plexus: New Well Order from GDF SUEZ E&P UK

UK-Eni-Oil-States-to-Use-Plexus-POS-GRIP-Technology

Plexus Holdings PLC has received a purchase order worth an estimated £1.5 million from GDF SUEZ E&P UK Ltd to supply its POS-GRIP wellhead system for exploration activities in the UK Central North Sea.

The new purchase order is for the second of two wells as announced on 23 May 2013 which formed part of an original ongoing contract with GDF, the details of which were provided to the market on 8 August 2011. This second purchase order is for the supply of Plexus’ POS-GRIP 18-3/4″ Surface Wellhead System for a low pressure well.

Plexus CEO Ben van Bilderbeek said, “Having proved the superiority of our wellhead equipment in HP/HT conditions, as evidenced by Plexus’ dominant share in this segment of the North Sea market, we are also receiving orders for wells operating in less extreme/low pressure environments, as this latest GDF order shows. In addition to supplying operators with best in class wellhead equipment in terms of performance, reliability and safety, our POS-GRIP technology also offers considerable time and cost saving benefits, as well as safety features in line with ALARP (as low as reasonably practical) HSE principles. We believe the compelling combination of superior performance and cost savings will drive further orders to supply wells operating in less challenging conditions, as we look to position Plexus as the go-to provider in the multi-billion dollar wellhead equipment market, both on the surface and in due course subsea.”