Engineering firm Plexus has agreed a collaboration deal with China Oilfield Services Ltd. (COSL), Red Sea Technologies (RST) and Plexus' Chinese licensing partner Yantai Jereh Oilfield Services Group, to explore for shallow water subsea and crossover wellhead production systems in China.
COSL is majority owned by Chinese state owned company CNOOC Group and RST is an oilfield design and services company in South East Asia.
Plexus and Jereh will combine Plexus' proprietory POS-GRIP method of engineering and Jereh’s manufacturing and sales and marketing skills, to work alongside COSL and RST to collaborate on the design, development, manufacture, supply, installation and provision of aftermarket services for the Chinese shallow subsea systems and crossover wellhead production systems market.
Plexus' CEO Ben Van Bilderbeek said: "In addition to actively building on our existing position in the Asian region following the establishment of our Malaysian and Singaporean hubs and our major license agreement with Jereh, we are pleased to continue to build upon our reputation of delivering a new standard of wellhead products with key global strategic partners. Whilst we predominantly supply into the jackup exploration arena we remain committed to POS-GRIP product innovation and as such are focused on making significant inroads into the volume production and subsea markets. We look forward to working with COSL, RST and Jereh on this newly formed collaboration relationship and further look forward to updating shareholders on our progress.”
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