Plexus has signed an agreement with China Oilfield Services (COSL), Red Sea Technologies (RST), and Yantai Jereh Oilfield Services Group for shallow water subsea and crossover wellhead production systems.
The latest collaboration agreement will explore commercial opportunities for its shallow water subsea and crossover wellhead production systems in Chinese oil and gas industry.
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The deal will also allow Plexus to expand its POS-GRIP wellhead equipment in markets, which offer growth opportunities.
Under the agreement, Plexus and Jereh will combine the POS-GRIP method of engineering and Jereh’s marketing capabilities.
Working alongside COSL and RST, the companies will also collaborate on the design, development, manufacture, supply, installation in addition to providing aftermarket services for the Chinese market.
Plexus CEO Ben Van Bilderbeek said: “We are delighted to have signed this significant collaboration agreement with COSL, RST and our new Chinese licensing partner Jereh, which will see us strengthen our reach in the Chinese oil and gas wellhead services market where we see exponential growth potential over the coming years.
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By GlobalData“Demonstrating our commitment to building our presence in the exciting Chinese market, we are equally delighted to have announced the signing of our licence agreement with Jereh who are also part of this collaboration agreement.”
As part of the agreement, both Jereh and Plexus plan to design and manufacture a range of new shallow water oil and gas equipment solutions for the market.
In China, COSL has the largest fleet of offshore oilfield services facilities.
