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.
The contract is initially for one well but there is an option for this to be extended to a second. This initial order also opens up production development opportunities in the future.
Plexus said the order potentially paved the way for further production development opportunities.
Chief executive Ben Van Bilderbeek added: “Venezuela is one of the biggest producers of oil and gas both regionally and globally and we are, therefore, delighted to have secured our first contract to supply our best-in-class wellhead equipment in this important hydrocarbon-producing country.
“In addition, we are delighted to announce our first contract win in South America. It now sees our geographic reach span five continents, including Europe, Asia, Oceania and Africa.
“Winning orders in new territories is a key part of our growth strategy. We have already established Plexus as the go-to provider of wellhead equipment for high pressure/high temperature wells, particularly in the North Sea market.
“Having proven the superiority of our equipment in what is one of the most challenging operating conditions in the world, we are focused on replicating this success – as this latest contract demonstrates – at the global level as we look to build Plexus into a leading global oil and services company.”
Alternative Investment Market-listed Plexus supplies wellhead and mudline suspension equipment and services through offices in Aberdeen, London, Cairo, Kuala Lumpur and Singapore. It also has a presence in Houston in the US.
Recommended for you
