Plexus Holdings (AIM: POS) has won a £175,000 UK North Sea contract with Neptune Energy.
The Aberdeen-headquartered firm said the rental contract is for its Exact Adjustable Wellhead and Centric Mudline Suspension Equipment to permanently abandon a well in Q2 2024.
Plexus CEO Ben van Bilderbeek said: ““The number of wells that must be permanently plugged and abandoned is fast growing, particularly in mature offshore locations such as the North Sea. We are therefore delighted that Plexus’ reputation is strengthening within this sector, and that our range of customers is broadening.
“Furthermore, this contract continues our progress back into the Adjustable Wellhead and Mudline equipment market as an expert in this field and ‘go-to’ company for this type of equipment.”