Plexus Holdings PLC (AIM:POS) has announced the successful completion of a customer-sponsored R&D project for its bespoke HG-R tubing hanger neck seal.
The company told investors that the latest development aims to revolutionise the maintenance of surface production wellheads as it can combat the common failures of conventional seals used in the oil and gas industry.
Plexus explained that the HG-R technology has been designed to address a key challenge facing oil and gas production operators, namely, the systemic failure of conventional annular seals – which fail over time due to pressure and temperature-induced interface movement (known in the industry as ‘fretting’).
Most conventional wellhead annular and neck seals will at some point fail, Plexus said whilst highlighting the associated safety and environmental concerns.
Plexus chief executive Ben Van Bilderbeek, meanwhile, noted that the company is now actively marketing this new product.
“The HG-R R&D design project is in line with our long-standing ambition to supply the oil and gas industry with a portfolio of NetZero compliant sealing solutions, which, in addition to our lifetime guaranteed wellheads, can in certain instances be used to upgrade and make secure decade-old production systems,” he said in a statement.
“Importantly, this new bespoke solution allows permanent upgrades to be carried out as part of planned ‘workover’ activities for existing wells, without having to remove tubing hangers.
“This means ageing wellheads can be safely and affordably repaired, to address future neck seal failures, which in turn lengthens their economic life, reduces the periodic cost of maintenance, and helps hydrocarbons maintain the role as a responsible transition fuel, until the world can rely on alternative energy sources.”