Plexus Secures $5.1 Million Wellhead Supply Contract with Total

Oil and gas engineering services business Plexus Holdings announced Monday that it has secured a $5.1 million contract with Total E&P Norge to supply its POS-GRIP wellhead systems for the major’s Solaris gas exploration area in the Graben area of the North Sea, offshore Norway.

Revenues for the contract are scheduled to start in October 2015. Solaris is located close to BG Norge's Mandarin East well, which is known for its extreme high pressure conditions, and initial data suggests that Solaris may be the highest ever pressure well in the North Sea, according to Plexus.

Plexus CEO Ben Van Bilderbeek commented in a company statement:

"Our Plexus team is proud to have been selected on this well, which is designed to cope with some of the highest pressures ever drilled in the Norwegian part of the North Sea. We are also delighted to be working with Total as a new client on this drilling project. Further, Total through one of its research groups, has worked with Plexus over the past four years on the development of a new generation subsea wellhead system, under the auspices of the Python Joint Industry Project (JIP). The Python JIP is sponsored by a number of major operating companies and will be launched at the Aberdeen Offshore Europe Oil show in September 2015."

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