Aberdeen-based Plexus Holdings has secured an order from Talisman Malaysia for the supply of a wellhead system for an exploration well offshore Malaysia.
This order with Talisman is the first to be awarded to Plexus’ Malaysian joint venture company, Plexus Products Asia (PPA), a fully operational Asian business hub that was set up to increase the supply of Plexus’ pioneering POS-GRIP wellhead equipment and services to the Southeast Asian and Australian markets.
Plexus’ CEO Ben Van Bilderbeek said, “Securing a first order through our Malaysian JV represents an important milestone for Plexus. In recent years we have begun to roll-out our international footprint, and this strategy becomes even more important at a time when the North Sea is suffering from the impact of significantly lower oil prices.
“As well as establishing PPA in Malaysia, we have also secured a licensing agreement with Jereh, a major Chinese oil services provider, to manufacture and sell Plexus' wellhead equipment to the Chinese and wider Asian oil and gas markets,” Bilderbeek said.
“Set against a challenging oil price backdrop, our global expansion initiative has proved timely, although it will inevitably take time to establish. By supplying and servicing markets with different cost and pricing profiles compared to the North Sea, we are aiming to not only grow our share of the sizeable global exploration, production and subsea markets, but also to diversify our revenue and customer base further.”