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GBP500,000 subsea wellhead HP/HT - Wintershall
GBP500,000 subsea wellhead HP/HT - Wintershall.
About this update from Plexus Holdings
[{"type":"text","content":"\n \nRNS Number : 1932K Plexus Holdings Plc 12 July 2011 \n \n\nPlexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services\n12 July 2011\nPlexus Holdings PLC ('Plexus' or 'the Company')\nAward of £500,000 Subsea wellhead HP/HT crossover system by Wintershall\n \nPlexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, has been commissioned by Wintershall Noordzee B.V. ('Wintershall'), a leading international oil and gas company, to design and develop a mudline crossover subsea wellhead system with specific high pressure/ high temperature ('HP/HT') capabilities. The engineering design contract has a value of circa £500,000.\n \nThe subsea wellhead development initiative will see Plexus design over the next six months a mudline crossover subsea wellhead system for Wintershall that will enable the company to complete and then produce from a previously drilled temporarily abandoned (exploration) well which used the Plexus TRT-S Mudline system. \n \nBy using POS-GRIP technology, the Tubing Hanger diameter has been reduced to enable installation through a standard casing riser rather than through a special larger diameter high pressure riser system between the Mudline and the Surface BOP. The proposed configuration allows multiple riser strings to be re-established during the subsea production conversion of a pre-drilled mudline well, thereby complying with the industries increased reliance on multiple barriers.\n \nUnder the terms of the product development contract Plexus will own the Intellectual Property rights to the new mudline crossover subsea wellhead system. At the end of the design process Plexus will quote for the manufacture and supply of two subsea wellhead systems for installation at the end of Q2 2013.\n \nThis subsea wellhead product development contract with Wintershall is running in tandem with Plexus' \"HGSS\" Joint Industry Project new subsea wellhead design initiative launched in March 2011 to develop a new method of engineering for subsea wellheads utilising Plexus' friction grip technology. \n \nPlexus CEO Ben van Bilderbeek said, \"This is a major step for Plexus in line with our growth strategy of extending our proprietary POS-GRI...