The
joint
industry
project
development
programme
has
been
working
for
the
past
three
years
on
the
development
of
a
20,000
psi
High
Pressure/High
Temperature
(HP/HT)
mudline
tieback
wellhead
system.
“No
product
exists
which
can
achieve
a
‘tieback’”
to
HP/HT
jackup-drilled
wells,
the
company
said
on
Friday
in
a
statement
confirming
the
funds.
Plexus
Holdings
says
its
proprietary
POS-GRIP
friction
grip
technology
can
replace
common
threaded
connections
to
make
this
possible.
“Once
commercialised,
this
has
the
potential
to
become
one
of
the
most
far
reaching
and
financially
beneficial
developments
in
the
economics
of
HP/HT
jack-up…
