LONDON--Plexus Holdings PLC (POS.LN), a wellhead engineer,
Tuesday said it has been awarded its first contract with the
Australian subsidiary of ENI S.p.A. (ENI.MI) for the supply of
POS-GRIP wellhead technology with mudline casing support and
services, initially for one exploration well offshore
Australia.
MAIN FACTS:
-The contract is estimated to be worth GBP280,000, with revenues
commencing in September, and includes an option for the continuing
use of Plexus wellhead and mudline equipment which is anticipated
to lead to a further three wells with an additional estimated value
of GBP1 million.
-This contract falls within the Plexus' licensing,
manufacturing, distribution, and agency agreement with Breda
Energia S.p.A, a provider of specialist products and services to
the oil and gas sector worldwide.
-The agreement granted Breda with exclusive rights to
manufacture, rent, sell and service POS-GRIP exploration and
production wellheads and other related POS-GRIP products
exclusively to eni S.p.A.
-Not only is this Plexus' first contract with eni S.p.A, it is
the first contract to be secured under its licencing and
distribution agreement with Breda; and marks the Company' third
contract to be awarded in Australia.
-Shares closed Monday at 195.0 pence.
-Write to Iain Packham at iain.packham@dowjones.com
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