Plexus Holdings has agreed a deal to catapult its technology into the Chinese marketplace.
The company, which produces its proprietary POS-GRIP® friction-grip method of wellhead engineering, has reached a collaboration agreement with China Oilfield Services Limited to explore opportunities in shallow water subsea and crossover wellhead production systems for oil and gas field activities.
The Aberdeen-based technology firm is also collaborating with Red Sea Technologies (RST), a oilfield design and services company in South East Asia and Plexus’ Chinese licensing partner Jereh.
Plexus chief executive Ben Van Bilderbeek said: “Jereh and Plexus look forward to designing and manufacturing a range of innovative shallow water oil and gas equipment solutions for the Chinese market where COSL has the largest fleet of offshore oilfield services facilities in China.”
Plexus and Jereh will combine the POS-GRIP method of engineering with Jereh’s manufacturing and sales abilities.
Whilst predominantly supplying into the jack-up exploration arena, Plexus said it was committed to POS-GRIP product innovation and as such is focused on making inroads into the volume production and subsea markets.
The latest deal follows last week’s announcement that Plexus had sold an £8million stake to Jereh.