Plexus

Oil & Gas

Plexus wins Petronas deal for equipment in Malaysian marketplace

14/07/2015

Plexus Holdings has won a deal with Petronas to help launch its wellhead equipment into the Malaysian marketplace. The deal will see the use of the company’s POS-Grip wellhead equipment which has been commissioned as part of its JV (Joint Venture) with (IPS) Integrated Petroleum Services. IPS, an upstream support services business to the offshore oil and gas industry in Malaysia and the Asia Pacific region, is already a licensed vendor to Petronas.

Oil & Gas

Plexus signs new China deal

06/07/2015

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.

Oil & Gas

Plexus gets a foothold in South America

Oilfield technology company Plexus Holdings yesterday announced its first contract win in South America and said its geographic reach now spanned five continents. The Aberdeen firm revealed the new order for wellhead equipment for a development well offshore of Venezuela was worth an estimated £800,000. Plexus said it was to supply its Tersus TRT mudline suspension system for a well on the Perla gas field after eni Venezuela and Repsol Venezuela secured the gas licence from the country’s ministry of petroleum and mines, with first revenues expected from this month on.

Market info

Chinese to take 5% stake in Plexus under new framework deal

Shares in Aberdeen firm Plexus Holdings shot up more than 18% yesterday after the latest in a string of announcements this week. The oilfield technology company unveiled plans to expand into the important and growing Chinese energy market after striking a deal with a major Chinese oil services group. Plexus, whose innovative Pos-Grip wellhead technology has been used in more than 300 wells globally by the likes of BG, BHP Billiton, BP, Shell, ConocoPhillips, Tullow Oil, and Wintershall, said it had signed the framework agreement with Yantai Jereh Oilfield Services Group Company.

Europe

Plexus reveals big ambitions for expansion

Oilfield technology company Plexus Holdings is on the brink of a major breakthrough in the global subsea industry, bosses said yesterday. Engineering and testing stages for its new subsea wellhead system are well advanced and the firm is preparing to take on the main players who currently dominate the market. Craig Hendrie and Graham Stevens, technical and finance director respectively, also highlighted the firm’s progress in adapting its innovative Pos-Grip technology for use in high-pressure, high-temperature (HPHT) exploration well tiebacks.

Oil & Gas

Plexus Holdings scoops £1.5million contract win

06/01/2015

Plexus Holdings has received a £1.5million purchase order from Brunei Shell Petroleum (BSP) to provide wellhead systems and services. The contract, for work on three additional exploration wells, runs until 2016. The company will supply both HP/HT and standard pressured wellhead and mudline systems and services.

Europe

Plexus has positive outlook as demand grows

Oil service provider Plexus said it did not expect its business to be hit by weak oil prices this year or beyond as it sees continued demand for its niche equipment. The Aberdeen-based supplier of oil and gas drilling technology said it expected the sharp decline in oil prices to be temporary and that long-term investments in the sector would sustain demand for Plexus' services. Plexus chairman Jeffrey Thrall spoke to the AIM listed firm’s investors at its AGM yesterday.