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.

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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.