jjjjjjjFriction-grip wellheads designed and tested in accordance with API6A / ISO 10423
Welcome to the Plexus Group
Group is an established oil and gas engineering,
and service business based in Aberdeen, with an office in
London and a presence in Houston, Texas through PDT, and subsidiaries in Malaysia and Brunei. Plexus began trading on the London Stock Exchange AIM Market in December 2005. 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 by using POS-GRIP technology in wellhead systems a number of significant advantages
over existing 'slip and seal' and 'mandrel hanger' wellhead
technologies are offered which can include, depending
Larger metal to metal seal areas
Virtual elimination of movement between
the sealing parts
Simplified design and assembly
Enhanced corrosion resistance
Simpler to manufacture
Reduced installation cost
Lower unit cost
As oil and gas exploration and production shifts to more
extreme operational environments in response to increasing
demand, the Directors recognise that there is a significant
marketing opportunity in unconventional fields. They believe
that the POS-GRIP wellhead technology is ideally suited
to enable some of the more extreme fields to be commercially
viable, particularly where high pressure and high temperature ('HP/HT') conditions exist.
Notwithstanding what the Directors perceive as the clear
advantages of POS-GRIP technology in niche
markets such as jack-up exploration drilling, which can generate high operating margins, the
Directors consider that the greatest commercial potential
for POS-GRIP technology is in the mainstream
production wellhead market. In order to exploit this market,
the Company recently introduced a further proprietary POS-GRIP product line known as the HG® wellhead. The current worldwide
market for wellheads and x-mas trees is estimated by the
Directors to be in excess of US$2 billion per annum.
POS-GRIP wellhead systems have been used around the world
in more than 250 oil and gas wells to date by international
customers and end users including, Apache, BP, BG, Brunei Shell Petroleum , ConocoPhilips, Maersk, Petro-Canada, Shell, BHP Billiton,
Talisman Energy, Tullow Oil, Global Santa Fe, Gaz de France, Maersk, Statoil
and Wintershall, including in Australia, UK and Norweigan North Sea, Egypt, Brunei, Cameroon, Russia, Trinidad, Tunisia and Malaysia.
Plexus is also developing new markets for its proprietary technology. With the encouragement of, and in collaboration with a number of key oil and gas operators and service companies including ENI, Maersk, Royal Dutch Shell, Tullow Oil and Wintershall, Plexus has launched a Joint Industry Project ('JIP') to develop a best in class POS-GRIP Deepwater 'HGSS' Subsea Wellhead design. In addition, testing is well advanced on a POS-GRIP HP/HT Tie-Back Connector which has been designed to allow operators to pre-drill HP/HT production wells and tie-back to a platform, resulting in considerable savings calculated to a range from £50m to £300m per well.
The Directors believe that its presence on AIM and the resulting raised profile, combined with access to additional
working capital facilities, will accelerate the roll out
of POS-GRIP technology as a superior alternative
to current wellhead technology. It has particular advantages in HP/HT oil and gas environments for which there is increasing demand throughout the world. 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 to maximise market penetration.
The Directors believe that over time the Plexus Group can become
a member of the ‘first tier' of global wellhead systems