Plexus Holdings has formed PPC, a majority owned JV which will exclusively supply Plexus with surface production Xmas trees and wellhead annulus outlet valves.
Following the sale of its jack-up exploration wellhead rental business to TechnipFMC, the formation of PPC is in line with Plexus’ strategy of targeting high-value surface production projects where operators typically purchase wellheads as a package together with a production Xmas tree and side outlet valves.
Plexus will supply the JV with its POS-GRIP “HG” technology and products associated with Xmas trees, while BEL Valves will supply the JV with critical valve components and technology.
PPC will be based in Plexus’ facility in Dyce, Aberdeen so that all project planning, procurement and product integration work can be delivered from a single point to the customer.
Plexus’ CEO Ben Van Bilderbeek, said: “The formation of PPC enables Plexus to supply Xmas trees as part of a ‘package solution’ for the first time. 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, said: “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.”