Last checked at 8 Dec 2017 08:31
8 December 2017
Enteq Upstream plc
("Enteq" or the "Company")
Contract award
Enteq, the oilfield services technology and equipment supplier, announces a contract from a new international customer.
On 7 December 2017, Enteq received confirmation and a cash deposit relating to an initial contract valued at $0.5m for operations in Indonesia. This is the first order Enteq has won in this territory. The contract is for using Enteq's core MWD ("measurement whilst drilling") technology in a geothermal application. The order will be delivered to the customer early in 2018.
Martin Perry, CEO of Enteq Upstream plc, commented:
"Enteq continues to develop new territories and applications for our equipment. This contract award represents the ongoing efforts to broaden the company's market presence.
For further information, please contact:
Enteq Upstream plc +44 (0)149 461 8739
Martin Perry, Chief Executive Officer
David Steel, Finance Director
Investec Bank plc (NOMAD and Broker) +44 (0)20 7597 5970
Chris Treneman, Patrick Robb, David Anderson