Business
Two Year Contract Extension with Shell Brunei
Two Year Contract Extension with Shell Brunei.
About this update from Plexus Holdings
[{"type":"text","content":"\n \nRNS Number : 8037V Plexus Holdings Plc 02 February 2017 \n\nPlexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil Equipment & Services\n2 February 2017\n \n \n \nPlexus Holdings PLC ('Plexus' or 'the Company')\nAdditional Two Year Contract Extension with Shell Brunei \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 its existing contract to supply wellhead and mudline equipment to Brunei Shell Petroleum Sdn Bhd ('BSP') has been extended by an additional two years. The extension covers the supply of both Plexus' High Pressure/High Temperature ('HPHT') and standard pressured Wellhead and Mudline systems and services, which are proven to be superior in terms of performance, reliability and safety.\n \nToday's contract is the fourth Plexus has signed with BSP and is an extension of the current four-year framework agreement between both parties, which commenced in late 2012 (see RNS dated 1 October 2012). Under this framework agreement, in April 2015 the Company received purchase orders from BSP to supply both HPHT and standard pressured wellhead systems and services for three exploration wells in Brunei. Plexus has a long-standing relationship with BSP, having first supplied its wellhead equipment in 2006, and importantly remains committed to local business development where it is hoped that Plexus can continue to recruit and train further local employees.\n \nPlexus CEO Ben van Bilderbeek said, \"The extension of our framework agreement with BSP validates our confidence in our ability to maintain relationships with long term customers, and be ready to secure orders when there is business to be won. This belief is based on the successful application of our best in class wellheads on over 400 exploration wells worldwide in both HPHT and standard pressure environments by a roster of blue-chip operators including Shell, Centrica, Statoil, and Total. \n \n\"In addition to offering operators wellhead equipment that meets the toughest industry standards, and in particular for HPHT application, the Company has an inventory of wellhead sets in stock which enables us to fulfil orders at short notice. However, for ...