Plexus wins relief well contract
Plexus said it had secured a multi-million pound contract with an unnamed oil and gas major to supply relief support in the North Sea.
Plexus said it had secured a multi-million pound contract with an unnamed oil and gas major to supply relief support in the North Sea.
The firm estimates that the agreement, which is subject to finalisation of contract terms, is likely to be worth in excess of £6m with revenues starting in July 2012.
It will supply wellhead equipment to be on permanent stand-by in the event that a relief well is needed.
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 has been buoyed by increasing pressures for spill response and well control contingencies, both from regulators and from within the oil and gas industry, following the disaster in the Gulf of Mexico.
"We are delighted to have been awarded this contract and believe it illustrates the increasing pressure faced by oil and gas operators to follow best practice in terms of response contingency planning capability," said Chief Executive Ben van Bilderbeek.
"We believe that with safety standards and regulations set to become more stringent over the coming years, this could potentially be a significant new business area for Plexus to further develop and pursue."
The firm's shares rose 8% following the news.
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.
-
Michelin Key Hotels 2025: the top destinations in the world
The Michelin Keys have been awarded to spectacular hotels across the world. From Marlon Brando's private resort in Polynesia to a Bvlgari hotel in Tokyo, we look at some of the most extraordinary stays in 2025
-
MoneyWeek news quiz: How much could you get in car finance compensation?
The car finance scandal, inheritance tax, and house prices all made headlines over the past few days. Test your knowledge while reviewing this week’s top stories with MoneyWeek’s news quiz