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BG is Sixth Oil and Gas Major to Join Subsea JIP
BG is Sixth Oil and Gas Major to Join Subsea JIP.
About this update from Plexus Holdings
[{"type":"text","content":"\n \nRNS Number : 4295Q Plexus Holdings Plc 01 September 2014 \n \n\nPlexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services\n1 September 2014\n \n \n \nPlexus Holdings PLC ('Plexus' or 'the Company')\nBG International Becomes Sixth Oil and Gas Major to Join POS-GRIP® 'HGSS™' New Subsea Wellhead Design Development Joint Industry Project\n \nPlexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, announces that BG International Ltd ('BG'), a subsidiary of BG Group, has signed up as the sixth major oil and gas consulting partner to Plexus' on-going Joint Industry Project ('JIP'). The JIP's objective is to develop and commercialise a new and safer subsea wellhead HGSS™, utilising Plexus' patented POS-GRIP friction-grip technology to address key technical issues and challenges highlighted by regulators following the Gulf of Mexico incident in April 2010. \n \nThe JIP members now include BG, Total E&P Recherche Developpement SAS, Maersk Oil North Sea UK Ltd, Shell International Exploration and Production B.V., Wintershall Noordzee B.V., Tullow Oil, Eni S.p.A, Oil States Industries Inc., Senergy Holdings Limited, and the UK entity of the world's largest offshore drilling company. \n \nThe HGSS subsea wellhead engineering and testing stages are well advanced with a targeted completion of the prototype by the end of 2014 calendar year. The wellhead is designed to be safer, has fewer parts, and delivers instant casing hanger lock down to avoid the use of lock rings and lock down sleeves as required by conventional designs. It has rigid metal-to-metal annular seal technology qualified to match the standard of premium casing couplings and in due course will incorporate annulus monitoring and bleed-off capability to address sustained casing pressure situations together with diagnostic and remedial capability. The inclusion of these key features and capabilities in a subsea wellhead will be an industry first, and to date monitoring of casing annuli capability is not considered feasible for a number of technical and cost reasons. \n \nThe JIP members continue to contribute to the design and engineering process. The next si...