Plexus wins four-year contract with Brunei Shell Petroleum

1st Oct 2012 10:00

Plexus Holdings, the oil and gas engineering services business, has won a four-year contract to supply equipment to Brunei Shell Petroleum.The value of the initial contract is estimated to be worth approximately two million pounds over the next 18 months, dependent on the number of wells drilled. Revenues commence in October 2012.Under the terms of the contract, which are subject to finalisation, Plexus will supply both High Pressure/High Temperature (HP/HT) and standard pressured wellhead and mudline systems for a multi-well exploration programme in Brunei.In early morning trading the Aim-listed company, with a market cap of 110m pounds, was up 5% at 135p.CM