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Plexus Holdings inks Australia wellhead contract with Eni

By Iain Packham

LONDON -- Plexus Holdings said it has been awarded its first contract with the Australian subsidiary of Eni for the supply of POS GRIP wellhead technology with mud-line casing support and services, initially for one exploration well offshore Australia.

The contract is estimated to be worth $426,216, with revenues commencing in September, and includes an option for the continuing use of Plexus wellhead and mud-line equipment which is anticipated to lead to a further three wells with an additional estimated value of $1.52 million.

This contract falls within the Plexus' licensing, manufacturing, distribution, and agency agreement with Breda Energia, a provider of specialist products and services to the oil and gas sector worldwide.

The agreement granted Breda with exclusive rights to manufacture, rent, sell and service POS GRIP exploration and production wellheads and other related POS GRIP products exclusively to Eni.

Not only is this Plexus' first contract with eni, it is the first contract to be secured under its licensing and distribution agreement with Breda; and marks the Company' third contract to be awarded in Australia.

Dow Jones Newswires

07/02/2013

 

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