Plexus Holdings (AIM: POS) - product launch the culmination of a 40 year dream
The oil equipment group has announced the formal launch of its new POS-GRIP Python Subsea Wellhead during Europe's biggest Oil and Gas trade show in Aberdeen on 8th September 2015. The development of this new subsea wellhead has had the support of some major oil and gas groups and is hugely exciting for Plexus as it moves the Group into a significantly larger market.
The new Python Subsea Wellhead, previously referred to as the “HGSS” Wellhead, has been designed to address key technical issues and requirements highlighted by regulators following the Gulf of Mexico incident in April 2010 and to achieve a new best in class standard for subsea wellheads that can, for the first time, match those of premium couplings. The Wellhead has been under development since 2011 within a Joint Industry Project (‘JIP’) supported by major oil…
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