Plexus Holdings PLC, the AIM-quoted specialist wellhead engineering business, announces a new order to supply its Exact exploration wellhead equipment on a rental basis, along with associated services, for an offshore gas exploration project in the Middle East.
The project, set to generate approximately $1 million in revenue, is expected to begin in the second half of 2025. This order, which is still subject to contract finalisation, was secured in partnership with Peak Energy Solutions ("Peak"), with whom Plexus has collaborated for the past two years to establish the necessary local licenses and customer registration for operations in the region.
CEO Craig Hendrie said: "We look forward to beginning active work with Peak, which will assist us with initial preparation from its base in Abu Dhabi and access to local services. This breakthrough order marks an exciting entry into a region where offshore oil and gas exploration continues, and where customers understand the value of our through-BOP solution that offers both enhanced safety and cost savings. We anticipate that this success will pave the way for further opportunities across the Middle East, where demand for offshore services aligns well with Plexus' innovative products and technology."