PLEXUS Holdings, an Aberdeen-based oil and gas engineering service business, said yesterday there was increasing industry awareness of the benefits of its proprietary POS-GRIP wellhead equipment following events in the Gulf of Mexico.
Chief executive Ben van Bilderbeek said: “It is inevitable that many of our current engineering initiatives, which form an important part of our growth strategy, have to be considered against the backdrop of the recent incident in the Gulf of Mexico.
“Although it is still unclear what the definitive causes were as the official reports have not yet been published, or indeed what the full regulatory impact and industry responses will be over the coming months and years, what is clear is that there will be more scrutiny and assessment of current drilling practices and technologies than ever before.
“Plexus has consistently maintained that the unique advantages of its POS-GRIP technology in terms of safety, operational performance, and cost savings will result in its wider acceptance and deployment.”
The company reported pre-tax profits of £645,000 for the year to June 30, down from profits of £1.8million the year before. Revenue for the year was £13.14million compared with £15.1million the previous year.