
Plexus CEO on Middle East expansion & profit strategy
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Plexus Holdings PLC (AIM:POS) CEO Craig Hendrie talked with Proactive's Stephen Gunnion about the company’s focus on rental wellhead operations and strategic growth in the Middle East. Hendrie explained that over the past year, Plexus reoriented its strategy to prioritise the rental wellhead business, putting complex products on hold to accelerate the path to sustained profitability.
He noted the £3.5 million fundraising completed in March, enabling Plexus to double its Exact EX rental fleet to sixteen units, with deliveries planned by the end of the year. “Having inventory ready on the shelf is absolutely key,” Hendrie said, adding that shorter project timelines are driving the need for readily available equipment.
The company is preparing shipments to the UAE, targeting the active offshore oil and gas sector. Hendrie highlighted that nearly half of the world’s jack-up rigs operate in the Middle East, making it an important market for Plexus’s offerings.
Looking to 2026, Hendrie emphasised the versatility of the Exact EX wellhead system, which can be used for exploration, development, and plug-and-abandonment projects across multiple regions. He expressed confidence that the combination of diverse applications and global operational experience will support continued growth despite macroeconomic challenges in the UK and the North Sea.
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#PlexusHoldings #OilAndGas #WellheadEquipment #MiddleEastEnergy #UAEExploration #OffshoreDrilling #EnergyInvestment #ExactEX #OilfieldServices #ProactiveInvestors
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