TIDMPOS

RNS Number : 0866T

Plexus Holdings Plc

01 October 2014

Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

1 October 2014

Plexus Holdings PLC ('Plexus' or 'the Company')

Significant Order Signed With BG Group

Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP(R) friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, is pleased to announce it has received a purchase order ('PO') from BG Group (UK) ('BG UK') to supply surface wellhead and mudline equipment services for an exploration well in the UK Continental Shelf in

the North Sea.   Revenues are expected to commence in December 2014.

Under the terms of the PO contract, which is expected to have a duration of 150 days, Plexus will supply its 18-3/4" 15,000psi High pressure/ High Temperature ('HP/HT') adjustable surface wellhead and mudline system for a standard pressure well. The well will be drilled using the Transocean Galaxy II rig following completion of the GDF operated Dalziel exploration well, which is also utilising Plexus' wellhead equipment and services.

Plexus has previously provided BG Group with its wellhead equipment and services for use on a number of exploration and appraisal wells in the North Sea, including the Thunderer, White Bear and Jackdaw III projects. In addition, BG International Ltd, a subsidiary of BG Group, recently signed up as the sixth major oil and gas consulting partner to Plexus' on-going Joint Industry Project ('JIP'). The JIP is developing a new and safer subsea wellhead HGSS(TM), utilising Plexus' patented POS-GRIP friction-grip technology to address key technical issues and challenges highlighted by industry regulators following the Gulf of Mexico incident in April 2010.

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. We have achieved leadership of this market thanks to the best in class qualities of our proprietary POS-GRIP based equipment that offers operators superior performance, enhanced safety and material cost savings. 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."

**ENDS**

For further information please visit www.plexusplc.com or contact:

 
 Ben van Bilderbeek   Plexus Holdings PLC         Tel: 020 7795 6890 
 Graham Stevens       Plexus Holdings PLC         Tel: 020 7795 6890 
 Derrick Lee          Cenkos Securities PLC       Tel: 0131 220 9100 
 Alan Stewart         Cenkos Securities PLC       Tel: 0131 220 9774 
 Felicity Edwards     St Brides Media & Finance   Tel: 020 7236 1177 
                       Ltd 
 Frank Buhagiar       St Brides Media & Finance   Tel: 020 7236 1177 
                       Ltd

This information is provided by RNS

The company news service from the London Stock Exchange

END

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