Plexus Holdings PLC (AIM:POS) (AIM: POS) said it has received orders that will yield approximately £1.5m of work under the recently announced Framework Agreement with a UK Continental Shelf operator.
The orders, placed for rental wellhead equipment and services for several plug and abandonment ("P&A") wells, are expected to produce revenue over a 12 month period, "subject to rig schedules and project planning," the company said.
Plexus received the first orders for its Exact™ EX rental wellhead systems, associated equipment and offshore support. The company said the Exact™ EX is "an adjustable surface wellhead that Plexus has optimised for safe and efficient deployment during drilling and abandonment operations" and that it is reusable, efficient to install and well suited to decommissioning and P&A work.
Plexus' CEO Craig Hendrie said: "Securing orders under this framework agreement and beginning to mobilise equipment for the UK offshore sector is a very welcome development after a prolonged period of uncertainty in the region. We look forward to supporting the operator on these with the operational excellence and technical support that Plexus is known for."
Key Facts
- Orders under the Framework Agreement with a UKCS operator expected to generate ~£1.5m of revenue over 12 months.
- Work covers several plug-and-abandonment wells and includes Exact™ EX rental wellhead systems, associated equipment and offshore support.
- Timing of activity is dependent on rig schedules and project planning, the company said; the Framework Agreement was first disclosed in the RNS dated 13 November 2025.
