LONDON (ShareCast) - Plexus, the oil and gas drilling technology innovator, has won a new contract to supply equipment services for an exploration well offshore Morocco.

The contract, with Portuguese company Galp Energia Tarfya, is worth £0.6m with revenues expected to begin in April 2014.

The contract is Plexus's first in the territory and, it said, further strengthened its position in North Africa.

Chief Executive Ben Van Bilderbeek said: "Today's contract with Galp for an exploration well offshore Morocco demonstrates our core wellhead equipment and services rental business continues to win new orders with new customers and in new territories.

"Having proved our POS-GRIP wellhead equipment is best in class in terms of performance, safety and cost, and having established a dominant position supplying HP/HT wellhead equipment in the North Sea, we are successfully expanding our geographical reach into Asia and Africa."

Plexus shares were up 1.89% to 276.63p in early trading on Wednesday.

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