Plexus to Provide POS-GRIP Wellhead Systems to Talisman in North Sea

Talisman Energy has awarded a contract to Plexus Holdings for the provision of its proprietary POS-GRIP® High Pressure/High Temperature ('HP/HT') and standard pressure POS-GRIP wellhead and mudline suspension equipment to its exploration platforms in the Norwegian North Sea. The two-year contract, which also has a further two-year option, will be for a series of exploration wells and has an initial value of approximately £1.5 million, generating revenue from the fourth quarter of 2009.

As this contract with Talisman demonstrates, Plexus' technology continues to gain industry recognition, particularly for HP/HT oil and gas environments where particular technical challenges exist and for which POS-GRIP is able to deliver unique advantages and solutions.

Plexus CEO Ben van Bilderbeek said, "As the fourth such contract signed during 2009, this agreement is a further testament to the innovation and quality of our proprietary POS-GRIP technology. Talisman joins our ever-growing blue-chip client list, reinforcing our position as a leading oil and gas engineering services business internationally."