Description of Business
The Plexus Group is an established oil and gas engineering and service business based in Aberdeen, with an office in London and subsidiaries in Singapore, Malaysia and Brunei.
The Plexus Group has developed and patented a friction grip method of engineering for oil and gas field wellheads and connectors, named POS GRIP® which involves deforming one tubular member against another to effect gripping and sealing.
POS-GRIP® technology was invented by the Plexus Group’s founder and CEO, Ben van Bilderbeek, an accomplished engineer and successful entrepreneur with over 35 years’ industry experience, and a track record of developing and commercialising specialised wellhead and drilling equipment.
The Directors believe that the patented POS-GRIP® wellhead technology delivers significant advantages over existing ‘slip and seal’ and ‘mandrel hanger’ wellhead technologies, and provides:
- Enhanced safety
- Larger metal-to-metal seal areas
- Virtual elimination of movement between the sealing parts
- Fewer components
- Simplified design and assembly
- Enhanced corrosion resistance
- Simpler to manufacture
- Reduced installation cost
- Lower unit cost
- Increased reliability
POS-GRIP® wellhead technology is ideally suited to enable some of the more extreme fields, particularly for high pressure and high temperature (HP/HT) conditions where it has particular advantages in gas environments for which there is increasing demand throughout the world.
Plexus’ patented POS-GRIP® friction method of engineering wellhead systems and other Plexus products have been deployed in more than 400 oil and gas wells to date in Australia, UK and Norwegian North Sea, Egypt, Brunei, Cameroon, Russia, Trinidad, Tunisia and Malaysia. International blue-chip customers and end users include Apache, BP, ConocoPhillips, Equinor, Petro-Canada, Shell, Repsol Sinopec, Total, Tullow Oil and Wintershall.
In 2019 Plexus established a joint venture, Plexus Pressure Control Ltd, with UK-based BEL Valves which enables Plexus for the first time to supply operators with highly qualified surface Xmas trees and valves, alongside its own POS-GRIP® surface production wellhead systems.
The Plexus POS-GRIP® “HG” metal-to-metal seal technology is well proven and is leak-proof and maintenance-free over the life cycle of a well, raising wellhead standards to a new level, providing substantial OPEX savings and bringing significant environmental benefits to an industry determined to eliminate methane gas leaks.
In March 2019, Plexus announced that its Russian licensee Gusar had secured its first major contract to supply Plexus jack-up exploration gas exploration wellhead equipment to Gazprom, the world’s largest gas company, marketing a significant opportunity for Plexus.
Plexus is also developing new markets for its proprietary technology. A recent Joint Industry Project (‘JIP’) has developed a best in class POS-GRIP® Deepwater HGSS® Subsea Wellhead design with the encouragement of, and in collaboration with a number of key oil and gas operators and service companies including ENI, Royal Dutch Shell, Tullow Oil, Wintershall, Total, Breda, Transocean, Oilstates and Lloyds Register. Plexus will be seeking opportunities to introduce this subsea wellhead design to the market where significant technical, operational and cost saving advantages can be demonstrated to the customer.
The company’s long-term goal is to develop POS-GRIP® technology as the future industry standard for wellhead design. This objective includes the distribution of POS-GRIP® technology through licensees, and maximising market penetration in areas where it has already had success with jack-up exploration wellhead rental application licences, both with TechnipFMC outside of the CIS, and Gusar LLC within the CIS. The Directors believe that over time the Plexus Group can become a member of the ‘first tier’ of global wellhead system suppliers.
Plexus’ business operations are in Aberdeen, and business opportunities are sought worldwide.