Plexus picks up million pound contract
Plexus Holdings (POS), the oil and gas engineering services firm, has secured a contract potentially worth over one million pounds to provide wellhead systems and services to exploration firm Bowleven (BLVN).
Plexus Holdings (POS), the oil and gas engineering services firm, has secured a contract potentially worth over one million pounds to provide wellhead systems and services to exploration firm Bowleven (BLVN).
The firm said the equipment would be used for appraisal activities on two wells, both located in the Bowleven's Etinde Permit area, offshore Cameroon.
There was also scope to extend the contract for up to two further wells in the same area, it added.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Plexus said the potential value of the contract was estimated at £1.05m with revenues form the deal expected to start coming in in June or July this year.
"The contract...allows us to make further in roads into the lucrative and highly active West African oil and gas arena, a market which we are keen to build our position in," said Plexus Chief Executive Ben van Bilderbeek.
"We are excited to be working for Bowleven again and hope to continue this working relationship in the future."
The company's shares rose 3.3% in early trading on Monday.
MM
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Review: Eden Roc Cap Cana – fun, sun and golf in the Caribbean
Travel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
-
Reeves delays cash ISA reform, but savers are not out of the woods yet
The chancellor has reportedly delayed plans to cut the cash ISA limit, which were set to be announced at Mansion House on 15 July, and will take more time to consult with the industry