Plexus lands Malaysian well-head licence deal

A JOINT venture set up by Plexus Holdings in Malaysia has won a licence to manufacture and supply its specialist well-head technology throughout the south-east Asian country.

It is the latest milestone secured by Aberdeen-based Plexus as it seeks to replicate the success it has had with its POS-GRIP system in the North Sea in other parts of the world.

The company recently signed a major deal for its well-heads to be manufactured in China.

Plexus Products, the company’s joint venture with Malaysia’s Integrated Petroleum Services (IPS), has secured a local PETRONAS licence.

That will allow the joint venture to manufacture and supply Plexus POS-Grip rent al exploration and production well-head equipment to the Malaysian market, where it hopes to benefit from the manufacturing, regional network and relationships of IPS.

Plexus believes the licence will strengthen its regional headquarters in Singapore and its recent licensing agreement with Chinese major Yantai Jereh Oilfield Services Group as it looks to build the presence of its POS-Grip equipment in regions across Asia.

Chief executive Ben Van Bilderbeek said: “We are delighted to announce that our JV company PPA has been successful in obtaining a local PETRONAS licence to manufacture and supply Plexus’ POS-GRIP well-head technology into the Malaysian market. With our partner IPS being an existing licensed vendor to PETRONAS this adds significant weight to this new development, as we look to become a pivotal supplier of well-head equipment in the region.”