Plexus said that its Russian licensee Gusar has placed an order for an additional set of POS-GRIP exploration rental jack-up drilling wellhead equipment.
The deal follows the installation of the first POS-GRIP rental gas exploration wellhead in Russia for Gazprom.
Plexus’ CEO Ben Van Bilderbeek said: “The acquisition of additional POS-GRIP exploration wellhead equipment by our licensee Gusar, so soon after the successful installation of the first POS-GRIP wellhead for major Gazprom, is highly encouraging and bodes well for Gusar securing further orders in Russia. Similarly, we believe the strategic decision taken by our partner to expand its inventory is a further sign of Gusar’s confidence as it looks to develop and build the Russian market for POS-GRIP equipment. With this in mind, we continue to support our partner’s efforts to establish POS-GRIP technology in Russia as a new standard and benchmark in terms of reliability and integrity, as well as its ability to deliver substantial operational cost savings.
“With the world moving towards Net Zero solutions, POS-GRIP’s leak-proof capabilities have never been more relevant, or indeed essential. This is particularly relevant for Russia being a top three global hydrocarbon producer, and means that the Gusar Licence has the potential to become a major income generator for Plexus, and in turn an important component of our portfolio of diversified revenue streams based around our suite of POS-GRIP products for the wider energy industry, which we are looking to grow.”
Gusar’s general director, Alexander Beryozkin, said: “We are pleased with the relationships we our developing with a range of Russian operators, particularly Gazprom. Following the successful completion of the 2019 POS-GRIP equipment and services order for Gazprom, we look forward to building on this important milestone and deepening the dialogue with the Russian industry at large. There is no question that Russia should play an active role in curbing the world’s carbon and methane emissions, and we believe that POS-GRIP technology stands to advance these efforts at the well site.”