Plexus has secured a purchase order order for a POS-GRIP floor manufacturing wellhead system from Spirit Energy.
The order from Spirit Energy consists of Plexus’ POS-GRIP 5,000psi leak proof “HG” steel to steel sealing floor manufacturing wellhead and related spares and gear for a brand new fuel effectively within the UK North Sea.
Under the contract, Plexus will obtain milestone funds following the signing of the acquisition order by way of to completion.
The wellhead supply to Spirit Energy ought to happen in February 2021.
The contract ought to final roughly 120 days, with a lot of the revenues booked through the firm’s 2020/21 monetary yr.
This is the second buy order for a floor manufacturing wellhead that Plexus gained from Spirit Energy (Centrica).
Significantly, it’s Plexus’ first main order for the reason that COVID-19 pandemic.
It can also be consistent with the corporate’s technique to increase the applying of its POS-GRIP know-how past jack-up exploration.
Specifically, this consists of oil and fuel manufacturing, geothermal and different purposes.
Plexus’ CEO Ben Van Bilderbeek stated,
“This order is for a fuel manufacturing effectively, and because the cleanest hydrocarbon to combust by way of CO2 emissions, pure fuel is more and more seen as a key transitional gas, because the world strikes in the direction of web zero emissions.
“A key assumption behind this view is that dangerous fugitive methane emissions can and have to be eradicated from the whole lot of the pure fuel consumption chain.
“At the well-site, POS-GRIP’s leak-proof wellheads can do this.
“We imagine our manufacturing know-how delivers financial and environmental proposition for the floor manufacturing operations we’re concentrating on.”
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