Plexus Holdings PLC (AIM:POS) – first order for new POS-SET Connector™
The AIM quoted oil and gas engineering services business, who announced results yesterday, has announced a first purchase order to supply and rent its new product POS-SET Connector™ utilising POS-GRIP friction grip engineering. With abandonment work in the North Sea set to grow significantly there could be huge potential for this product.
The POS-SET Connector™ is to be used by Centrica Energy Exploration and Production (‘Centrica’) for abandonment operations on a gas well originally drilled 32 years ago in 1982 offshore Holland. It will hopefully be the first of many orders addressing the lucrative abandonment market, which the Directors believe has significant growth potential as a large number of ageing wells reach the end of their life in the North Sea and other regions.
The total…
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