23rd Apr 2014 10:19
LONDON (Alliance News) - Plexus Holdings PLC Wednesday said it has signed a contract with a new customer, Galp Energia Tarfya, to supply surface wellhead and mudline equipment services for an exploration well offshore Morocco.
The AIM-quoted oil and gas engineering services business said the value of the contract with worth around GBP600,000, with revenues expected to commence this month.
It said the contract also secures a new territory for the company, and further strengthens its position in North Africa.
Plexus will supply its POS-GRIP wellhead equipment as part of the deal, which it said has a number of significant advantages over existing 'slip and seal' and 'mandrel hanger' wellhead technologies.
Plexus shares were up 0.2% at 272.00 pence Wednesday morning.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Plexus