Oil and gas firm plans to make safer subsea wellheads
Plexus Holdings has signed a number of new industry players for its project to create new oil and gas technology.
Maersk Oil North Sea, Shell, Wintershall Noordzee and consultancy Safekick have agreed to develop a safer form of subsea wellhead using Plexus' POS-GRIP system.
The company said it is in advanced discussions with three more international companies keen to join the project.
Between £1.5 million and £2 million will be invested in research and development over the two years the study is running with the engineering team based in Aberdeen.
Bert Van Bilderbeek, Plexus chief executive, said: "I believe that there is a growing recognition by the industry of POS-GRIP technology, which reinforces the significant commercial potential in new application areas such as subsea.
"Recent well control incidents around the world have raised awareness surrounding the critical function of a wellhead in subsea oil and gas operations, and have also highlighted the need for a step change in safety and performance standards.
"Moving into the subsea market represents an exciting growth opportunity for Plexus. It has been estimated that US$225bn will be spent in the period 2011-2015, and that 30% of all goods and services supplied to the subsea sector will come from the UK.
"The size of this global subsea market and the commercial opportunities associated with it are in marked contrast to the significantly smaller global jack-up rig exploration market, which up until now has been our main area of operation."