Aberdeen company Plexus Holdings will unveil its new subsea wellhead, developed in partnership with Python consortium partners, on September 8 during the city’s Offshore Europe oil and gas show.
Announcing the official launch of the Pos-Grip Python technology today, Plexus chief executive Ben Van Bilderbeek said: “For me, this is a 44-year dream come true.
“In June 1971, I started my career with Vetco in Ventura California as a service engineer installing some of the earliest subsea wellhead systems on projects around the world.
“Now it gives me great pleasure to be part of the team that has designed and delivered a new class of subsea wellhead which we believe will raise subsea wellhead standards to a best-in-class level not considered possible in the past.
“The Plexus engineers who have worked tirelessly over the past four years are to be commended for their engineering ingenuity and perseverance, and the JIP (joint industry project) member representatives who have taken part in the design process of the Python subsea wellhead system are also highly deserving of our gratitude for their invaluable contribution.
“The Python Subsea Wellhead system is designed to deliver true and verifiable metal to metal sealing capability in ultra deep-water, and is also aimed at simplifying installation procedures to such an extent that numerous installation trips are eliminated to render the system effective cost negative.
“I am very proud of our achievement and I look forward to help promote this ground-breaking technology as it moves from prototype to product.”
The JIP is supported by BG GroupRoyal Dutch Shell, Wintershall, Maersk, Total, Tullow Oil, Eni, Senergy and Oil States Industries.
The new Python subsea wellhead, previously referred to as the HGSS wellhead, has been designed to address key technical issues and requirements highlighted by regulators following the Gulf of Mexico incident in April 2010. It has been under development since 2011.
Entering the global subsea market is a key part of Plexus’ management’s strategy to expand the oilfield technology company’s suite of Pos-Grip wellhead equipment into larger fast growing markets.
Subsea exploration and production has grown rapidly since 2000 in terms of total expenditure from $7billion to approximately $45billion in 2014.
According to a report by Rystad Energy in May 2014, this strong growth is expected to continue.
Global subsea expenditure is forecast to grow by an annual rate of 15%, to $115 billion by 2020.
Plexus’ CEO ,