Plexus secures ADNOC qualification for HG-R
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This announcement contains inside information
2 November 2026
Plexus Holdings PLC
(“Plexus” or the “Company”)
Plexus secures ADNOC qualification for HG-R
Plexus Holdings PLC (AIM: POS), the AIM-quoted wellhead services business, is pleased to announce that its HG-R wellhead integrity system has successfully qualified with Abu Dhabi National Oil Company (“ADNOC”).
Receiving the ADNOC licence is a significant milestone, as ADNOC is one of the world's largest oil and gas operators, and its stringent gatekeeping means securing approval can unlock high-value opportunities for supplying to ADNOC and other operators in the UAE and the region who use the same licence approval system.
Plexus estimates the target market in the UAE at £10m per annum and will now work with ADNOC to identify a trial well opportunity in the coming months. If successful, this could lead to orders for additional wells during the next financial year and beyond.
About HG-R
HG-R is a retrofit wellhead spool based on Plexus’ POS-GRIP and “HG” sealing technology. It is designed to address tubing hanger neck seal integrity issues in existing producing wells by providing a new metal-to-metal sealing solution, without the need to recover the tubing hanger.
Plexus’ CEO Craig Hendrie said: "The recent regional conflict created a period of uncertainty in the Middle East and has delayed the projects we were targeting there. This qualification award shows that momentum is building again, both in our core Exact EX rental wellhead business and in this new direction of supplying the specialised HG-R repair system, which is built on our proven technology. Qualification with an operator of ADNOC’s calibre is a strong endorsement of our products and company, and we are confident that the region will be a key contributor to Plexus’ growth as activity recovers and projects move forward.”
ENDS
For further information please visit www.plexusplc.com or contact:
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Plexus Holdings PLC Craig Hendrie, CEO Mike Park, CFO
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Tel: 01224 774222 |
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Cavendish Capital Markets Limited Derrick Lee
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Tel: 0131 220 6939
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St Brides Partners Ltd Isabel de Salis Ana Ribeiro |
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NOTES
Plexus Holdings plc (AIM: POS) is an IP-led company specialising in developing and providing wellhead systems and associated products and services for offshore operations.
Headquartered in Aberdeen, the Company focuses on providing wellheads for Jack-up rig operations such as exploration and appraisal drilling, Plug & Abandonment work and emerging markets for Carbon Capture & Storage, hydrogen production and storage and geothermal. Plexus has a collaboration agreement with SLB to supply Exact adjustable wellhead systems for Jack-up applications and supports these operations with a range of proprietary equipment and tools, and project engineering services.
Plexus is known for its highly innovative POS-GRIP® wellhead technology and HG® metal-to-metal sealing systems, for which licences have been sold to major industry players such as SLB and TechnipFMC for limited applications. Plexus continues to develop products based on POS-GRIP technology for challenging surface production wellhead platforms, special projects and connector and subsea applications such as the Python® subsea wellhead system.
Plexus has always been at the forefront of innovation to reduce risk and improve performance in the energy industry, such as developing through-BOP wellhead systems which help to prevent blow-outs, and POS-GRIP “HG” Seals which are leak-free throughout field life and so reduce methane emissions and minimise maintenance costs. These innovations support the oil and gas industry's ESG and NetZero, and in recognition of this, Plexus was Awarded the London Stock Exchange’s Green Economy Mark in 2021.
For more information visit: https://www.plexusplc.com/
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