Engineering services firm Plexus Holdings announced the successful completion of its plug and abandonment (P&A) equipment and services campaign for Oceaneering International on Friday. The AIM-traded company said the project in the North Sea was completed within a two-month offshore deployment span, seeing the use of Plexus’s specialised equipment on four wells and significantly exceeding financial forecasts. Operated via a remotely operated vehicle (ROV), the equipment was attached to well conductors in the North Sea. The endeavour was a technical success, having been smoothly executed across multiple sequential wells and a financial triumph for Plexus. It said the project generated revenues of £0.85m in the 2023 financial year, showcasing a robust 70% surge above initial estimates.

Source: The North Africa Journal October 06, 2023 15:29 UTC