Plexus Holdings PLC (AIM:POS) told investors it has entered a two-year framework agreement to supply rental wellhead services and equipment to a UK North Sea operator.
The arrangement covers surface wellhead systems, associated equipment and offshore support for projects in the UK offshore sector.
Work under the contract is expected to begin in the first quarter of 2026, on a jack-up rig well linked to a decommissioning campaign.
"This agreement is a welcome development after a period of lower activity in the North Sea," said chief executive Craig Hendrie.
"Market conditions remain uncertain, but we continue to engage with potential customers both in the UK and internationally and we see positive signs and increasing potential for our business as we look ahead to 2026 and beyond."
The work will include the deployment of the company’s Exact EX adjustable wellhead system, which is designed for drilling and abandonment operations.
Plexus noted that additional call-offs for future plug and abandonment projects are expected as the operator’s schedule advances.