Plexus Holdings has secured a rental contract award for Exact Adjustable Wellhead and Centric Mudline Suspension Equipment from oil and gas company Neptune Energy UK.
The contract is for Adjustable Surface Wellhead Equipment and Mudline Tooling to allow the permanent abandonment of a UK North Sea well, with operations planned for start-up and completion during Q2 2024.
The value of the contract is more than £175,000, and, Plexus says, is yet another example of the growing rental wellhead market for jack-up rigs engaged in both plug and abandonment ('P&A') operations and exploration well drilling.
Plexus' CEO, Ben Van Bilderbeek, said: "The number of wells that must be permanently plugged and abandoned is fast growing, particularly in mature offshore locations such as the North Sea. We are therefore delighted that Plexus' reputation is strengthening within this sector, and that our range of customers is broadening. Furthermore, this contract continues our progress back into the Adjustable Wellhead and Mudline equipment market as an expert in this field and 'go-to' company for this type of equipment."