Connecting to LinkedIn...

W1siziisijiwmtuvmdqvmtuvmdgvntqvmzgvnzi1l01ptlrbu0hfqkxpr19vtljftkrfukvex0lnqudfx3jlc2l6zwrfyw5kx3jlbmrlcmvklmpwzyjdlfsiccisinrodw1iiiwimtkymhgxmjuwiyjdxq

Blog

Plexus Holdings PLC Lifts After Landing Big North Sea Order From BG Group plc

1/10/2014 by

W1siziisijiwmtqvmtavmjgvmtuvmtevmdevotqwl2zpbguixsxbinailcj0ahvtyiisijywmhg0mdbcdtawm2uixv0

Plexus Holdings the AIM-quoted oil and gas engineering services business- announced this morning that it has received a "significant order" from multinational oil and gas company BG Group, to supply surface wellhead and mudline equipment services for an exploration well in the UK Continental Shelf in the North Sea.  

Plexus says that it expects revenues from the contract to begin in December of this year, but the company hasn't disclosed the value of the order. Plexus's share price is currently up 2.2% in trading so far today.

Plexus says that it expects the work, which will see it supplying its 18-3/4″ 15,000psi High pressure/High Temperature adjustable surface wellhead and mudline system, to take 150 days. BG's exploratory well will be drilled using the Transocean Galaxy II rig, following completion of the GDF operated Dalziel exploration well, which is also using Plexus's wellhead equipment and services.

Plexus has previously supplied wellhead equipment and services to BG, for use on a number of its North Sea exploration and appraisal wells, including the Thunderer, White Bear and Jackdaw III projects.

Commenting on the order, Plexus CEO  Ben Van Bilderbeek said:

"This latest order from BG Group, a long standing and valued customer of Plexus, further cements our position as the dominant supplier of wellhead equipment for the HP/HT market in the North Sea which bodes well at a time when a number of Government initiatives are underway to boost exploration activity in the North Sea. 

"Together with the provision of first class ancillary services, we strongly believe this winning combination will see us deliver on our objective to replicate our success in the North Sea in other geographies, such as Asia where we are building a significant business hub to service the highly active Asian and Oceania regions. I look forward to providing further updates on our progress in due course."

At 248,75p, Plexus's share price is down 9.5% on this time last year, although that still puts it ahead of the AIM 100 index, which is down 10.7% over the same period.  And over five years Plexus is positively trouncing its index, with a share price rise of 492%, compared with just 12.7% for the AIM 100.

This article has been extracted from http://www.iii.co.uk/, please click on this link to read the article in full http://www.iii.co.uk/articles/195320/plexus-holdings-plc-lifts-after-landing-big-north-sea-order-bg-group-plc

Montash is a multi-award winning, global technology recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Energy Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

comments powered by Disqus

Social Stream

Latest News

W1siziisijiwmtcvmdyvmtkvmtavndkvmtavntuvc2h1dhrlcnn0b2nrxzqymzk2mjg2ni5qcgcixsxbinailcj0ahvtyiisijm4mhgxmdajil1d

Long Term Transition, Not Long Term Tradition...

2017-06-20 09:00:00 +0100

It seems odd that while 88% of businesses are undergoing some kind of digital transformation[1], only 25%[2] of them have a clear understanding of their digital transformation journey. So what's driving so many businesses to pursue digital with such recklessness? Broadly speaking, the reason is simply the unprecedented rate of change in digital solutions and services. As we ride the digital tidal wave, consumers and employees change their expectations, ...

W1siziisijiwmtcvmdyvmtmvmtavmjqvmjuvodcxl3nodxr0zxjzdg9ja181njewnja3mzmuanbnil0swyjwiiwidgh1bwiilcizodb4mtawiyjdxq

How Great Leaders Cultivate Great Teams

2017-06-13 12:00:00 +0100

There's a difference between being a boss and being a leader. Leaders know how to inspire the best from their teams to achieve industry-leading results. For our latest blog, we spoke to our Managing Director, Roy Dungworth, to discover how businesses can create a culture that inspires great people to do great things together. Success in business doesn't begin and end with great leadership. Great leaders inspire their teams to want to do more and be bett...