Plexus to Supply Wellhead Technology For Exploration in North Sea

Plexus has reached agreement with Senergy to supply its proprietary POS-GRIP wellhead technology and mudline suspension systems for exploration activities in the North Sea. The contract is worth approximately £700,000, which is subject to completion of relevant terms, with revenues expected to commence July 31, 2010. 

Senergy will drill an exploration well using Plexus' 15,000 psi High Pressure/ High Temperature (HP/HT) POS-GRIP wellhead, which is known for its increased safety and technical benefits including higher pressure performance. 

Plexus CEO Ben van Bilderbeek said, "This contract win marks a new working relationship between Plexus and Senergy for HP/HT wellhead applications. Over the years, Plexus has built a strong presence in the North Sea oil and gas market with an increasing number of leading international oil and gas companies and turnkey operators using our HP/HT wellhead systems. We are now in the position where we are one of the leading suppliers for wellhead equipment for HP/HT exploration drilling activities within this market, a trend we believe will continue as we pursue our strategy of becoming the wellhead supplier of choice."