Plexus Holdings Plc (POS.L) has agreed to supply its high pressure/high temperature or ‘HP/HT’ POS-GRIP wellhead equipment to Glencore Exploration Cameroon Ltd., an integrated commodities producer and marketer, for drilling a gas exploration well offshore Cameroon. The contract would have an estimated initial value of around 700,000 pounds.
The order is initially for one well with an option to increase this to three. Plexus said this is the first contract it would reach with Glencore, and it is anticipated that revenues would begin in March 2013. The exploration drilling programme would make use of Plexus’ POS-GRIP HP/HT 18-3/4″ 15,000 psi wellhead equipment, and this contract strengthens the company’s presence in West Africa, and Cameroon in particular.
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by RTT Staff Writer
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