LONDON (Alliance News) - Oil and gas engineering services company Plexus Holdings PLC on Friday said it has secured its first contract under the Cardon IV gas licence granted by the Ministry of Petroleum and Mines of Venezuela to supply mudline suspension equipment services for a development well offshore Venezuela.
The licence has been awarded to the Venezuela units of Italian oil and gas group Eni SpA and Spanish energy group Repsol SA.
The value of the order for Plexus is estimated at USD0.8 million, with revenue to be generated from this month going forward.
Under the terms of the contract, Plexus will supply its Tersus TRT mudline suspension system for a well on the Perla gas field offshore Venezuela, it said.
"Venezuela is one of the biggest producers of oil and gas both regionally and globally, and we are therefore delighted to have secured our first contract to supply our best in class wellhead equipment in this important hydrocarbon producing country," said Plexus Chief Executive Ben van Bilderbeek.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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