Engineering firm Plexus' Asian joint venture with Integrated Petroleum Services, Plexus Products, has secured a PETRONAS license to manufacture and supply Plexus’ POS-GRIP wellhead equipment in Malaysia.
Plexus believes that with the PETRONAS license secured, Plexus Products will augment Plexus’ Singaporean regional head quarters and services base and Plexus’ recent licensing agreement with Chinese major Yantai Jereh Oilfield Services Group Co., as it looks to expand the supply of its best in class POS-GRIP wellhead equipment in new regions such as Malaysia and Asia which offer significant growth opportunities for Plexus.
Plexus CEO Ben Van Bilderbeek said: “Ultimately it is Plexus’ vision to repeat the success we’ve enjoyed from our main service base in Aberdeen in the Scottish and Norwegian North Sea and EMEA markets and to build a significant Asian presence and distribution channels from which to increase our global reach.
“We anticipate that this will lead to many more supply opportunities in this important market. In tandem with expanding our geographic presence for the supply of our best in class POS-GRIP wellhead solutions predominantly in our organic jackup exploration arena, we are also committed to extending our offering through new innovative product development in the surface production and subsea arenas. One such initiative is our new and safer Python subsea wellhead, addressing key technical issues as highlighted by regulators following the Gulf of Mexico incident in April 2010.
"We have developed this alongside other international oil and gas majors and are launching the product in Aberdeen at Europe's biggest Oil and Gas trade show, SPE Offshore Europe, in September 2015. We look forward to updating the market on these and further developments as we look to broaden our company offering and increase shareholder value.”
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