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

W1siziisijiwmtcvmdkvmjkvmdgvmtmvmjkvmjgyl1vudgl0bgvkigrlc2lnbiaomjuplmpwzyjdlfsiccisinrodw1iiiwimzgwedewmcmixv0

Are PSLs a Blocker or an Enabler?

2017-10-02 11:00:00 +0100

The use of a Preferred Supplier List (PSL) was intended to support and strengthen relationships and performance between organisations and their third party suppliers. As the technical landscape continues to evolve at rapid rate recruitment and demand for new skills becomes more intense. Are PSLs still the solution or an obstacle to sourcing the right talent? The traditional PSL A dedicated list of partners intended to guarantee quality and availability ...

W1siziisijiwmtcvmdkvmjevmdgvndmvmduvmtmxl1vudgl0bgvkigrlc2lnbiaomjmplmpwzyjdlfsiccisinrodw1iiiwimzgwedewmcmixv0

Why do we punish the victims of hacking?

2017-09-21 09:00:00 +0100

Hacks occur every 39 seconds, with 95% of them targeting governments, retailers and the tech industry. If the hackers are caught, they'll face prison time under the Computer Misuse Act. More often than not, the businesses who are victims of those attacks expose themselves to punishment of their own. The laws that determine the duty of protection owed to businesses and their customers is both vague and broad, making them question just how much protection...