Plexus sets up new xmas tree, valve package joint venture
Oil and gas engineering services provider Plexus Holdings has announced the formation of the Plexus Pressure Control (PPC) joint venture (JV), which will exclusively supply surface production xmas trees and wellhead annulus outlet valves.
Following the sale of the company’s jack-up exploration wellhead rental division to TechnipFMC last year, the formation of the JV is in line with Plexus’ strategy of targeting high-value surface production projects in which operators purchase wellheads as a package, together with a production xmas tree and side outlet valves.
Plexus will supply its POS-GRIP “HG” technology and products associated with xmas trees to PPC, while BEL Valves will supply critical valve components and technology.
Newcastle, UK-based BEL Valves designs and manufactures valves and actuators, focusing on applications downstream of the wellhead and tree systems.
PPC will be based in Plexus’ facility in Aberdeen, enabling all project planning, procurement and product integration to be delivered from one location to customers. After-market services will also take place in the Aberdeen facility.
"The formation of PPC enables Plexus to supply xmas trees as part of a 'package solution' for the first time,” said Plexus CEO Ben Van Bilderbeek. “It is a key step in our company's evolution and ambition to provide the industry with wellheads and associated products, which are gas tight and methane leak free. With the long-term field history and extensive qualification testing already demonstrated with the tree and valve products which Plexus now has full access to, we are confident that we can now truly provide the complete package to our customer."
BEL Valves' CEO Bruce Heppenstall added: "Our valves and Plexus' wellhead systems are an excellent fit. Both deliver the highest standards in performance, reliability and safety and both have a proven track record in operating in extreme HP/HT environments. We at BEL Valves are looking forward to working with Plexus to offer operators a complete surface package, which we believe delivers the best solution available by far."