Business
Extended Contract with Transo
Extended Contract with Transo.
About this update from Plexus Holdings
[{"type":"text","content":"\n RNS Number : 9026B Plexus Holdings Plc 04 November 2009 \n \nPlexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services\n4 November 2009\nPlexus Holdings PLC ('Plexus' or 'the Company')\nExtended Contract with Transocean Drilling U.K. Limited \n\nPlexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, has signed a further two year frame work agreement with Applied Drilling Technology International ('ADTI'), a turnkey drilling division of Transocean Drilling U.K. Limited, the world's largest offshore drilling contractor, to supply its standard 10,000 psi POS-GRIP wellhead technology with mudline suspension systems. The estimated value of this agreement could reach £2 million over the next two years, with initial revenues anticipated to commence from December 2009.\n\nThis two year frame work agreement marks a strengthening working relationship between Plexus and ADTI, which began six years ago. Under the extended agreement, ADTI will continue to utilise Plexus' POS-GRIP wellhead technology, known for its safety, cost and time saving benefits, for contracted exploration work in the North Sea. \n\nPlexus CEO Ben van Bilderbeek said, \"Plexus is delighted to extend its working relationship with ADTI as it continues to increase its stronghold within the important North Sea oil and gas market. It is Plexus' objective to continue to champion POS-GRIP within the oil and gas arena, increasing its exposure to make it the industry wellhead standard of necessity, recognised for its superior technical performance and safety benefits. Therefore it is fundamental, in order for Plexus to achieve this, that strong relationships such as these with key turnkey players are formed and maintained in the long-term.\" \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 7589 8555\n\n\n\n\nGraham Stevens\n\n\nPlexus Holdings PLC\n\n\nTel: 020 7795 6890\n\n\n\n\nAlex Dewar\n\n\nBrewin Dolphin\n\n\nTel: 0845 213 2076\n\n\n\n\nFelicity Edwards\n\n\nSt Brides Media & Finance Ltd...