Plexus has hailed the environmental credentials of its wellheads after the Aberdeen-based engineering firm’s licensee in Russia bought another set of equipment.
Gusar, which signed a licensing deal with Plexus in 2016, will use the wellhead with its gas exploration customers. The latest deal comes on the back of Gazprom installing its first wellhead from Plexus last year.
Plexus and Gusar hailed the wellhead’s ability to reduce leaks and therefore cut carbon dioxide emissions from drilling sites. More broadly, oil and gas companies and their engineering suppliers have come under increased pressure from investors and environmental campaigners ahead of this autumn’s United Nations COP26 summit in Glasgow, with more and more countries setting net-zero carbon dioxide emission targets.
Ben Van Bilderbeek, chief executive at Plexus, which is quoted on the Alternative Investment Market (AIM), said: “The acquisition of additional POS-GRIP exploration wellhead equipment by our licensee, Gusar, so soon after the successful installation of the first POS-GRIP wellhead for major Gazprom, is highly encouraging and bodes well for Gusar securing further orders in Russia.
“With the world moving towards net zero solutions, POS-GRIP’s leak-proof capabilities have never been more relevant, or indeed essential. This is particularly relevant for Russia being a top three global hydrocarbon producer, and means that the Gusar licence has the potential to become a major income generator for Plexus, and in turn an important component of our portfolio of diversified revenue streams based around our suite of POS-GRIP products for the wider energy industry, which we are looking to grow.”
Alexander Beryozkin, Gusar’s general director, added: “We are pleased with the relationships we our developing with a range of Russian operators, particularly Gazprom. There is no question that Russia should play an active role in curbing the world’s carbon and methane emissions, and we believe that POS-GRIP technology stands to advance these efforts at the well site.”
