Plexus Holdings said yesterday a new contract that will see its innovative oilfield technology used for a second exploration well offshore Oman was worth an estimated £231,000.
Aberdeen-based Plexus’ Pos-Grip wellhead technology has been used or ordered for more than 400 oil and gas projects globally. Its latest order from Singaporean-owned Masirah Oil will start delivering revenue as early as this month.
It follows an earlier order for equipment that was a key part of the successful drilling of the Manarah-1 well by Masirah last year.
The new well, Karamah-1, will be drilled from the Aban VII jackup rig over 30 days. A third well may be drilled in the area, subject to drilling results from the first two.
Plexus chief executive Ben van Bilderbeek said the latest order from Masirah “increases our visibility in this important oil and gas region”.
He added: “The Middle East is one of the few regions in the world where drilling activity has remained relatively stable during the current downturn.
“As a result, it is a key area of focus for us as we look to expand the geographic footprint of our best-in-class equipment.
“We are confident we can replicate on a global basis our North Sea success.”