This agreement marks a strengthening relationship between the two companies. Plexus first signed a rental wellhead contract with BP Egypt in 2006, for an exploration drilling programme which expired at the end of 2008. The renewal of this contract with BP Egypt acts as further testament of the commercial strength and capabilities of Plexus’ HP/HT POS-GRIP wellhead technology, increasingly known for it cost, safety and time saving advantages.
Plexus Chief Executive Officer Ben van Bilderbeek said: We are delighted to have secured this contract extension with BP Egypt, as we continue to consolidate our position as a superior wellhead equipment supplier within the Northern African region. Our aim is to increase the awareness of our unique POS-GRIP technology within the international oil and gas community and eventually secure its position as the industry standard for wellhead design. Naturally, each new or extended contract takes us one more step forward in reaching this goal, and in order to accelerate this process, we continue to seek licensing or JV partnerships with key industry players.
