Business
Contract from Maersk for long term wellhead rental
Contract from Maersk for long term wellhead rental.
About this update from Plexus Holdings
[{"type":"text","content":"\n \nRNS Number : 0718H Plexus Holdings Plc 05 June 2017 \n\nPlexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil Equipment & Services\n \n \n \n \n5 June 2017\nPlexus Holdings PLC ('Plexus' or 'the Company')\nContract from Maersk for long term wellhead rental\n \nPlexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, is pleased to announce it has entered into a new 4 year contract with Maersk Oil North Sea UK Limited, for the provision of wellhead, mudline suspension systems and associated services. The initial purchase order ('PO') is to prepare and provide POS-GRIP® HPHT Surface Wellhead systems and Tersus™ mudline suspension equipment on a stand-by basis ready to mobilise in the event of a relief wells needing to be drilled during the development of Maersk Culzean platforms. Revenues are expected to commence during the next Plexus financial year. The contract further provides for the supply of additional exploration wellhead equipment for future appraisal wells in the Culzean area during the contract term, and provides for a 1 year extension.\n \nPlexus' CEO Ben Van Bilderbeek said, \"This is a fantastic contract for Plexus which will help to underpin our future revenues, as well as delivering the opportunity for further exploration well business with Maersk. It is also fitting that Plexus has been awarded this contract for the high profile Culzean Development, as we were involved in the initial exploration wells with Maersk in the Culzean field.\"\n \n**ENDS**\n \nFor further information please visit www.posgrip.com or contact:\n\n\n\n\nBen van Bilderbeek\n\n\nPlexus Holdings PLC \n\n\nTel: 020 7795 6890\n\n\n\n\nGraham Stevens\n\n\nPlexus Holdings PLC\n\n\nTel: 020 7795 6890\n\n\n\n\nNick Tulloch\n\n\nCenkos Securities PLC\n\n\nTel: 0131 220 9772\n\n\n\n\nDerrick Lee\n\n\nCenkos Securities PLC\n\n\nTel: 0131 220 9100\n\n\n\n\nFrank Buhagiar\n\n\nSt Brides Partners Ltd\n\n\nTel: 020 7236 1177\n\n\n\n\nIsabel de Salis\n\n\nSt Brides Partners Ltd\n\n\nTel: 020 7236 1177\n\n\n\n\n \nNOTES:\nPlexus Holdings PLC is an AIM traded oil and gas engineering and services business, which supplies wellhead and mudline suspension equipment together ...