Plexus Holdings, the Aberdeen-based wellhead services business, sees “key opportunities” in carbon capture and storage as well as decommissioning of wells.

Non-executive chairman Ben Van Bilderbeek will tell the AIM-traded company’s AGM that its financial performance has shown a significant improvement in the year to the end of June and it is now on a growth path.

Important developments, included he delivery of a major special project and signing a licensing agreement with the global oilfield services leader SLB. 

He will say that under new CEO, Craig Hendrie the firm is “optimistic about the future and are implementing a refreshed strategy”.

This builds on its long-standing expertise in the jack-up rental wellhead market while positioning Plexus to capitalise on emerging trends within the global offshore oil and gas sector.

“Key opportunities include carbon capture and storage wells and plug and abandonment work within the decommissioning sector, both of which are increasingly vital in the evolving energy landscape,” says the chairman.

“Furthermore, we are committed to expanding our market presence through strategic partnerships with leading global players and innovative product development, ensuring that Plexus remains at the forefront in wellhead technology and advancing drilling efficiency, safety, and sustainability objectives.”

This was highlighted with the recent contract for an offshore gas exploration project in the Middle East, in partnership with Peak Energy Solutions.

Mr Van Bilderbeek says: “Looking ahead, with our advanced engineering capabilities and commitment to delivering high-integrity solutions, we are confident in our ability to drive sustainable growth and deliver value to shareholders.”