Plexus Wins GDF Suez Egypt Deal

19 July 2009 (Last Updated July 19th, 2009 18:30)

Oil and gas engineering services company Plexus Holdings has been awarded a services and support contract worth £600,000 by GDF SUEZ Egypt. GDF Suez Egypt will use Plexus' POS-GRIP 15,000psi high-pressure wellhead and standard 10,000psi POS-GRIP wellhead systems with mudline casing suppo

Oil and gas engineering services company Plexus Holdings has been awarded a services and support contract worth £600,000 by GDF SUEZ Egypt.

GDF Suez Egypt will use Plexus' POS-GRIP 15,000psi high-pressure wellhead and standard 10,000psi POS-GRIP wellhead systems with mudline casing support and services at two oil and gas exploration wells in the Mediterranean Sea.

The contract, which may be extended, is subject to the completion of relevant terms, with revenues anticipated to commence in October 2009, the company said.

In October 2007 Plexus signed its first agreement with Gaz de France Britain to supply wellhead systems that were used for exploration activities in the North Sea.

Plexus chief executive officer Ben van Bilderbeek said that the deal "demonstrates that our drive into the North African markets is making strong progress and we are confident that similar contracts will follow in the future."