Plexus Holdings agrees three-year tech supply contract

Plexus Holdings, an oil and gas engineering services business, has agreed a new three-year contract with drilling and engineering company AGR Well Management.

Under the contract, Plexus will supply both its standard pressure and High Temperature/High Pressure ('HPHT') POS-GRIP wellhead technology and mudline services to AGR.

Plexus has already received its first order under the new contract, worth an estimated £400,000 (€484, 379), to supply its 10,000psi POS-GRIP equipment for an exploration well in Guinea Bissau, West Africa.

The technology will be used for oil and gas exploration activities, which AGR carries out on behalf of its oil and gas customers.

This will reportedly be the first time that a POS-GRIP High Temperature annular seal, generally used in HPHT systems, is utilised in a standard pressure system.