Aberdeen oil and gas firm Plexus has launched a joint venture with an English firm aimed at increasing global sales of its technology.
Under the agreement Plexus is partnering with Newcastle-based BEL Valves which has with over 45 years of experience in the oil and gas industry.
The JV, which will be called PPC and based in Plexus' facility in Dyce, Aberdeen, will supply oil and gas operators with specialist valves used in wellheads and in ‘surface xmas trees’, which are assemblies used to regulate flows in oil wells.
Plexus will be the majority shareholder of the JV and will supply it with its POS-GRIP technology used to prevent gas leaks on drilling operations while BEL Valves will supply the JV with critical valve components and technology.
PPC will be based at Plexus' facility in Dyce, Aberdeen. Plexus' CEO Ben Van Bilderbeek, said the formation of the was a “key step in our company's evolution”.
He added: “With the long-term field history and extensive qualification testing already demonstrated with the tree and valve products which Plexus now has full access to, we are confident that we can now truly provide the complete package to our customer."
