Plexus Bags Gazprom Contract Via Gusar

Laxman Pai
Thursday, March 7, 2019

Aberdeen-based oil well technology firm Plexus Holdings said its Russian licensee Gusar had clinched its first major contract to supply gas exploration equipment to Gazprom.

The contract covered the first year of an up to five-year jack-up gas exploration drilling programme on the Kara Sea Shelf.

Under the terms of a 2016 licence agreement with Gusar, Plexus would receive a licence royalty of 20% based on the invoice value of Plexus products rented or sold.

In addition, a further 20% royalty of the invoice values of te 2019-2020 contract with Gazprom would apply.

"Today's contract announcement represents a significant milestone towards establishing Plexus' best in class gas proof POS-GRIP equipment in Russia and the CIS, one of the top three hydrocarbon producers in the world with significant gas reserves," the company said.

Due to the importance of gas in its energy mix, Russia represents a key market for Plexus as its friction grip technology and HG metal sealing have been proven to be ideally suited to the high pressures and temperatures associated with gas.

Plexus' CEO Ben Van Bilderbeek said, "This is the breakthrough rental wellhead order that both Gusar and Plexus have been working towards since we signed the Licensing Agreement in January 2016.  As the holder of the world's largest natural gas reserves, Gazprom is the latest major operator set to join the likes of BP, Centrica, ConocoPhillips, eni, Royal Dutch Shell, and Total on the long list of operators that have used our proprietary POS-GRIP technology around the world.  We are therefore anticipating that today's order will prove to be the first of many, not just for Gazprom, but in time from other companies operating in the CIS market."

Categories: Offshore Energy Well Operations Exploration Contract Wells

Related Stories

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Woodside Agrees Long-Term LNG Supply with Petronas Unit

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Yinson Production Closes $1B Investment to Drive Further Growth

Chuditch Gas Field Drilling Ops Get Delayed to Next Year

CNOOC Starts Production at Offshore Field in South China Sea

Fugro Lands Deepwater Gas Field Job in Southeast Asia

BW Opal FPSO Vessel set for Work off Australia

Argentina YPF to Shed Offshore Exploration Projects

Current News

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com