Plexus gets W/Africa contract

Oil well head and attendant pollution in the Niger delta03 March 2014, News Wires – AIM-listed Plexus has nabbed a £400,000 (US$668,000) supply contract for work with AGR in West Africa.

The company will provide its standard pressure and high pressure POS-GRIP wellhead technology systems for AGR’s exploration clients.

Plexus will supply its POS-GRIP equipment for an exploration well in Guinea Bissau in West Africa which AGR is set to drill on behalf of Swedish operator Svenska Petroleum Exploration.

Revenue from this order is expected to be booked as soon as first quarter 2014.

Plexus chief executive Ben van Bilderbeek said the deal with AGR serves as an “excellent opportunity” to get into new markets.

“Not only is Svenska a new end user of Plexus’ equipment, this well also provides a foothold in a new country for us, Guinea Bissau, and in the process further strengthens our position in West Africa, where we have previously worked in Cameroon,” he said.

– Upstream

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