Plexus has entered into Cooperation Agreements with Cameron, which will result in a commercial opportunity by enabling Plexus to return to the Jack-Up Exploration (Adjustable) Wellhead rental business for jack-up applications with proven technology.
Plexus to re-enter the Jack-up Exploration (Adjustable) Rental Wellhead market, with Exact* adjustable wellhead system, Centric* mudline suspension wellhead system and Fontus Explorer* configurable exploration wellhead system;
Cameron to licence and transfer Plexus’ original designed Exact-15 (“Exact”) system rental wellhead inventory and Centric-15 (“Centric”) mudline system equipment, as well as provide manufacturing support and assist in sales leads generation in return for a licence royalty fee;
The ‘through the BOP’ (“Blow-out Preventer”) wellhead systems offer improved rig personnel safety by enabling the BOP to be kept in place during operations and thereby reducing the risk of blow outs.
The Cooperation Agreements are in line with Plexus’ strategy, which is to create a portfolio of revenue streams and builds on:
- an existing licensing agreement with Cameron, for Plexus’ POS-GRIP® method of wellhead engineering, to be used on conventional and unconventional surface production oil and gas wells;
- a collaboration agreement with TFMC, which provides a platform to further develop and commercialise POS-GRIP applications;
- a licensing agreement with Gusar for Plexus’ POS-GRIP wellhead equipment to be supplied to the Russian and CIS markets;
- the organic development and marketing of Plexus’ POS-GRIP wellhead applications for any type of wellhead, aimed at meeting demand for guaranteed ‘leak-free’ seal technology and performance.
For further details, contact Plexus and read the full RNS announcement here.