UK-headquartered oil and gas engineering services business Plexus Holdings has secured a contract valued at over £1 million to deliver equipment and services for multiple plug and abandonment (P&A) activities in the North Sea.
Under the contract with an undisclosed client, Plexus will provide Exact adjustable surface wellhead equipment and specialized Centric mudline system tooling and services for P&A operations on wells in the Dutch sector of the North Sea.
The operations are planned to commence in the second quarter of this year for a period of nine months.
Exact adjustable wellheads and Centric mudline systems are part of Plexus’ license/collaboration agreement with SLB.
According to company CEO Ben Van Bilderbeek , Plexus is delighted to strengthen its reputation within the decommissioning sector and because the range of its customers is broadening.
“The number of wells that must be permanently plugged and abandoned is fast growing, particularly in mature offshore locations such as the North Sea, where the OEUK indicated that decommissioning would account for 25% of oil and gas expenditure in 2023, up from 12% in 2022, and encouragingly I believe this trend will continue,” said Van Bilderbeek .
“Furthermore, this contract demonstrates the progress we are making in getting back into the Adjustable Wellhead and Mudline equipment market as an established expert in this field and ‘go-to’ company for this type of equipment and service.”
Plexus at the end of November 2023 won a rental contract for exact adjustable wellhead equipment and centric mudline suspension equipment with Neptune Energy for a P&A project in the UK sector of the North Sea.
The award came after the one that the company got at the end of October 2023 for exact and centric equipment for a P&A project secured through its licensor SLB for a North Sea operator. Prior to this, Plexus completed work related to a P&A equipment and services campaign for Oceaneering in the North Sea.