Oil and gas engineering services company Plexus has been awarded a purchase order for a ‘POS-GRIP’ surface production wellhead system, it announced on Thursday, for a “leading” unnamed North Sea operator. The AIM-traded firm said the order included its 10,000-psi leak-proof ‘HG’ metal-to-metal sealing surface production wellhead, together with associated spares and valve equipment for a new gas well in the North Sea. Under the contract, Plexus would receive milestone payments following the signing of the purchase order, through to completion. The wellhead equipment was scheduled for delivery in the second quarter of 2022, with the contract expected to last around 120 days, with most of the revenue to be booked during the company's current financial year. “Furthermore, our technology has generated considerable operational cost savings via reduced installation times and reduced non-productive time by not having to shut down production to carry out maintenance.

Source: The North Africa Journal December 23, 2021 11:28 UTC