Plexus Holdings PLC (AIM:POS) - another significant contract award
The AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, has received another significant order, this time from Premier Oil Norge AS.
The FTSE 250 focused oil and gas company has contracted with Plexus to supply its POS-GRIP wellhead system for an exploration well in the Norwegian Central North Sea. The well order is estimated at £1m with revenues commencing in August 2015. The contract marks a repeat client purchase and builds upon a long standing relationship between the parties, with Plexus having first supplied its wellhead equipment to Premier Oil Norge in 2010. Despite the general gloom in the oil services arena Plexus’ brilliant technology continues to have its attractions as the Group seeks to replicate its leading position in the…