Business
First Wellhead Order from Rosneft in Vietnam
First Wellhead Order from Rosneft in Vietnam.
About this update from Plexus Holdings
[{"type":"text","content":"\n \nRNS Number : 4565R Plexus Holdings Plc 21 September 2017 \n\n \nPlexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil Equipment & Services\n21 September 2017\n \n \n \nPlexus Holdings PLC ('Plexus' or 'the Company')\nNew Customer and Territory Contract Win with Rosneft in Vietnam \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 that it has been awarded a contract with new customer Rosneft (TNK Vietnam B.V) ('Rosneft Vietnam'), a subsidiary of leading Russian oil and gas company, Rosneft. The contract will see Plexus supply its POS-GRIP High Pressure/High Temperature ('HP/HT') adjustable rental exploration wellhead equipment to Rosneft Vietnam for an exploration well offshore Vietnam. \n \nThis contract represents a new country in a new territory for Plexus and is in line with the Company's ongoing strategy to continue to expand globally from its dominant position in the North Sea. Management understands Plexus was awarded the contract due to the best in class standards of its wellhead technology including performance, safety, time and cost savings, in addition to the proven convenience and operational advantages of through the BOP HP/HT capabilities. \n \nPlexus' CEO Ben Van Bilderbeek said, \"It is always encouraging to secure a first contract with a new customer, particularly one of the calibre and strategic importance as Rosneft Vietnam, a subsidiary of one of the largest oil and gas majors in the world. In the past, we have found that once the superior features of our equipment in terms of performance, reliability and safety, along with the significant time and cost savings it offers are experienced first-hand out in the field, new customers become long-standing ones as further contracts are awarded. We are therefore hopeful that this will be the case with Rosneft Vietnam and that, thanks to Rosneft's important standing in Russia and the CIS, this inaugural contract bodes well for us and our Russian licencing partner Gusar in terms of raising the profile of our technology in that region. \n \n\"Russia and the CIS is just one of a number of territories we are targeting as we look to expand outside ...