Plexus Holdings Plc (LON:POS) shares advanced on Thursday after it told investors that Rosneft has been signed up as a new customer.
A new contract see Plexus supply its POS-GRIP High Pressure/High Temperature (HP/HT) adjustable rental exploration wellhead equipment for the Russian group’s Vietnam subsidiary for an exploration well offshore Vietnam.
"It is always encouraging to secure a first contract with a new customer, particularly one of the calibre and strategic importance as Rosneft Vietnam, a subsidiary of one of the largest oil and gas majors in the world,” said Ben Van Bilderbeek, Plexus chief executive.
“In the past, we have found that once the superior features of our equipment in terms of performance, reliability and safety, along with the significant time and cost savings it offers are experienced first-hand out in the field, new customers become long-standing ones as further contracts are awarded.
“We are therefore hopeful that this will be the case with Rosneft Vietnam and that, thanks to Rosneft's important standing in Russia and the CIS, this inaugural contract bodes well for us and our Russian licencing partner Gusar in terms of raising the profile of our technology in that region.”
Plexus was up 4.1p or 6% to change hands at 71.80p.