LONDON--Plexus Holdings PLC (POS.LN), a oil and gas engineering
services business, Wednesday announced that it has received a
letter of award for its first contract with Shell China Exploration
and Production Company Limited (SCEPCO), a unit of Royal Dutch
Shell PLC (RDSA.LN).
MAIN FACTS:
-Contract, which is subject to finalization of terms, is for the
supply of 15,000 psi high pressure high temperature POS-GRIP
wellhead technology with mudline casing support and associated
services, initially for one well exploring for gas offshore Hainan
Island, China.
-Revenue from the contract are expected to commence during the
next financial year.
-Shares at 0834 GMT up 10 pence, or 3.5%, at 295 pence, valuing
the company at GBP250 million.
-Write to Tapan Panchal at tapan.panchal@wsj.com
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