On July 1st, Jereh Group
announced that they has finalized a license agreement with Plexus Holdings to facilitate the rental, sale and manufacture of Plexus’s wellhead equipment into the major Chinese and other designated Asia oil and gas markets, which makes Jereh the first of this kind in China.
The agreement follows the framework agreement signed on March 26, 2015 and moves deeper by granting Jereh exclusive utilization of Plexus’s patents, trademarks, technology, and intellectual property to manufacture and supply its products. By combining Jereh’s strong manufacturing, sales and marketing skills, and Plexus’s engineering and technology together, it will boost the development, manufacture and supply of shallow subsea systems and crossover wellhead production systems market.
Jereh is a world-class supplier of oil and gas field equipment and services, with operations in more than 60 countries, and it is strongly established in China and Asia, which is recognized by Plexus’s CEO Ben Van Bilderbeek, “Plexus and Jereh share the ambition of delivering oil and gas drilling equipment and services, which are best in class in terms of safety, performance and reliability. And the Agreement can over time generate substantial revenues from the partnership with Jereh, who have an exceptional proven track record as licensees for major partners around the world.” It is firmly believed that together with Plexus’s strong capability, Jereh will have more development by tapping more potential of the oil and gas resources.