£1.4m contract awarded to wellhead system firm

Paul Boughton

Plexus has announced that further to its first-time contract win with Maersk Oil Danish Business Unit totalling £1.1million announced on 12 February 2014, the  option granted under the contract has now been converted to a firm order to supply Maersk Oil Danish Business Unit its Pos-Grip wellhead system and mudline services for an additional well. The value of the additional order is estimated at approximately £1.4 million with revenues expected to commence in October 2014.

Under the terms of the option, Plexus will supply its 18-3/4” Pos-Grip 15,000psi surface wellhead and mudline systems for use on a standard pressure well for exploration activities in the central Danish North Sea.

Plexus’ CEO Ben Van Bilderbeek said, “We are delighted to have secured this second well order with Maersk Oil’s Danish Business Unit, which I believe further highlights the commercial strength of our Pos-Grip wellhead technology for both standard and more challenging high pressure/high temperature exploration activities.”