Plexus Holdings to supply Glencore with gas well drilling equipment

wellhead Deepwater Horizon ResponseThe contract will strengthen the growing presence of Plexus in West Africa. (Image source: Deepwater Horizon Response/Flickr)Plexus Holdings PLC has announced that it will supply its high-pressure and high-temperature POS-GRIP wellhead equipment to Glencore Exploration Cameroon Ltd for gas well drilling offshore Cameroon

The deal between the two firms has been estimated to have an initial value of US$1.1mn.

The order was initially for one well with an option to increase it to three. This was the first contract Plexus entered into with Glencore and the revenues will be expected to flow in from March 2013.

According to Plexus, the exploration drilling programme will utilise its wellhead equipment, and this contract will further strengthen the company’s growing presence in West Africa, and Cameroon in particular.

Plexus CEO Ben Van Bilderbeek said, “This contract to supply our wellhead equipment to Glencore adds another blue chip operator to our broad customer base, and provides further evidence of Plexus’ high standing in the oil and gas industry.

“In the last few months, we have announced contract wins in three continents including Asia, Europe, and Africa.”

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