Plexus gets green light to sell subsidiary to TechnipFMC

Must Read

Total deploys oil rig to South Africa for rare frontier drilling

(Bloomberg) –Total SA has deployed a rig to South Africa to look for more oil near a massive discovery,...

Oil can help Guyana feed the region, become leader in renewables – UK High Commissioner

British High Commissioner to Guyana, Greg Quinn, says the new oil producing country now has a real opportunity to...

Rystad Energy warns 2nd COVID-19 wave could see oil demand losing another 2.5 million bpd

As the number of confirmed new COVID-19 cases surges to new global highs of beyond 200,000 per day, a...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

Plexus Holdings PLC (LON:POS) has confirmed that the proposed sale of a subsidiary business to TechnipFMC will go ahead after shareholders backed the deal.

TechnipFMC has been awarded a contract by ExxonMobil for the engineering, manufacture and delivery of the subsea equipment for the Liza deep water project in Guyana.

At a general meeting on Monday, shareholders approved the Plexus deal, with 99.8% votes cast in favour of the agreement.

“As previously announced, the disposal is in line with Plexus’ strategy of increasing industry awareness of its POS-GRIP friction grip technology,” the company said in a statement.

“This focus has initially been on proving the superior qualities of Plexus equipment within the jack-up wellhead exploration market, where to date its technology has been deployed on hundreds of wells worldwide, before targeting other markets such as surface production, subsea and de-commissioning.

“The board of Plexus believes that the disposal represents a significant milestone for the company as it demonstrates the attractiveness of its POS-GRIP technology.”

- Advertisement -

Latest News

Total deploys oil rig to South Africa for rare frontier drilling

(Bloomberg) –Total SA has deployed a rig to South Africa to look for more oil near a massive discovery,...

Oil can help Guyana feed the region, become leader in renewables – UK High Commissioner

British High Commissioner to Guyana, Greg Quinn, says the new oil producing country now has a real opportunity to use those revenues to strengthen...

Rystad Energy warns 2nd COVID-19 wave could see oil demand losing another 2.5 million bpd

As the number of confirmed new COVID-19 cases surges to new global highs of beyond 200,000 per day, a second wave of the pandemic...

Pirates grab nine Nigerians from BW Offshore FPSO

At approximately 4:20 am local time on Thursday, BW Offshore’s FPSO Sendje Berge was subject to an attack by pirates offshore Nigeria in which...

OPEC cuts production to 1991 levels in bid to revive oil demand

(Bloomberg) - OPEC slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets...

More Articles Like This