Maersk puts £260,000 into Plexus

PLEXUS, the offshore engineering firm that operates out of Aberdeen, yesterday unveiled a £260,000 investment from oil explorer Maersk for the development of its latest well head.

A prototype of the device, which can be used at high pressures and high temperatures, is being built and a finished version is expected to be completed by the middle of the year.

Ben Van Bilderbeek, chief executive of Plexus, which is registered in Surrey but operates from Aberdeen, said the well head will be “one of the most far-reaching and financially-beneficial developments” in the sector for many years.

At present, exploration wells – which cost between £50 million and £300m – are abandoned after drilling, but Plexus said its device would be able to be converted into a production well.