Plexus Holdings, the AIM quoted oil and gas engineering services business, owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, and exclusive Licensee to SLB, for its range of 'EXACT' Adjustable Wellhead and 'CENTRIC' Mudline systems, has announced a rental contract award for Exact Adjustable Wellhead and Centric Mudline Suspension Equipment with Neptune Energy UK.

The contract is for Adjustable Surface Wellhead equipment and Mudline Tooling to allow the permanent abandonment of a UK North Sea well, with operations planned for commencement and completion during Q2 2024.

The value of the contract is in excess of £175,000 and is yet another example of the growing rental wellhead market for jackup rigs engaged in both plug and abandonment ('P&A') operations and exploration well drilling.

Commenting on the contract, Plexus' CEO Ben Van Bilderbeek said: 
"The number of wells that must be permanently plugged and abandoned is fast growing, particularly in mature offshore locations such as the North Sea. We are therefore delighted that Plexus' reputation is strengthening within this sector, and that our range of customers is broadening. Furthermore, this contract continues our progress back into the Adjustable Wellhead and Mudline equipment market as an expert in this field and 'go-to' company for this type of equipment."

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