Plexus nets first order through Malaysian JV
- Business & Finance
Plexus Holdings, an oil and gas engineering services business, has secured a purchase order with Talisman Malaysia Limited, which is a part of Repsol Group, the integrated global energy group, to supply its wellhead system for an exploration well offshore Malaysia.
This order with Talisman, worth £0.9M ($1.3M), is the first to be awarded to Plexus’ Malaysian Joint Venture company, Plexus Products (Asia) Sdn Bhd (PPA), in conjunction with the company’s local Malaysian oil and gas partner. PPA is a fully operational Asian business hub, which was set up to increase the supply of Plexus’ POS-GRIP wellhead equipment and services to the important South East Asia and Australia oil and gas exploration and production markets.
Plexus’ CEO Ben Van Bilderbeek said, “Securing a first order through our Malaysian JV represents an important milestone for Plexus, as we look to replicate in other parts of the world our historical success in the North Sea where we have proven the unique advantages of our POS-GRIP technology.
“In recent years we have begun to roll-out our international footprint, and this strategy becomes even more important at a time when the North Sea is suffering from the impact of significantly lower oil prices. “