Oil and gas engineering services firm Plexus Holdings said Tuesday it had won a contract award for Exact and Centric equipment for a North Sea Plug and Abandonment ('P&A') project secured through its licensor SLB (ex-Schlumberger) for an unnamed "leading North Sea operator."
The P&A work will take place in Q4 2023 and generate equipment rental revenues for Plexus in the region of £100,000.
"This collaborative work is an important milestone as it further builds on the ongoing relationship between the two companies as well as Plexus' growing reputation in the field of Adjustable Wellhead and Mudline technology," Plexus Holdings said.
Commenting on this new Plexus contract, Plexus' CEO Ben Van Bilderbeek said: "Our continued growth into the expanding P&A market is highly encouraging, particularly as this project utilizes the Exact and Centric technology specifically designed to provide the safest and quickest tieback and drilling solutions for not only these types of P&A wells, but also exploration and appraisal wells.
"The contract is also an excellent example of the continued collaboration between SLB and Plexus where we believe that SLB recognizes Plexus capabilities in Adjustable Wellhead and Mudline projects. We are confident that further opportunities for similar work will arise in the future."
