Plexus signs first Middle East deal

PLEXUS Holdings, the Aberdeen-based oil and gas engineering service business, has signed its first Middle East contract with Dubai Petroleum Establishment, to supply its proprietary POS-GRIP wellhead and mudline suspension systems for use in the Gulf.

The immediate value of the contract is about £125,000, with revenue beginning in July in the first quarter of the company’s next financial year.

Plexus will provide Dubai Petroleum with POS-GRIP technology wellhead rental equipment for an oil exploration-well contract.

The Aberdeen company’s chief executive, Ben van Bilderbeek, said: “This is a pivotal contract win for Plexus as the company gains its first foothold in the Middle East, one of the world’s premier oil and gas producing regions.

“It is important for Plexus to continue to gain exposure in the international arena if we are to fulfil our long-term objectives of increasing market penetration to develop POS-GRIP as a new industry standard for wellhead design.

“We will continue to focus on securing additional contracts in the Middle East to add to our already solid blue-chip client list, which includes BG International, BHP Billiton, BP, ConocoPhillips, Maersk, Shell, and StatoilHydro.”

Breaking