Contract award

RNS Number : 7990Y

Enteq Upstream PLC

08 December 2017

 

8 December 2017

Enteq Upstream plc

("Enteq" or the "Company")

Contract award

Enteq, the oilfield services technology and equipment supplier, announces a contract from a new international customer.

On 7 December 2017, Enteq received confirmation and a cash deposit relating to an initial contract valued at $0.5m for operations in Indonesia. This is the first order Enteq has won in this territory.  The contract is for using Enteq's core MWD ("measurement whilst drilling") technology in a geothermal application.  The order will be delivered to the customer early in 2018.

 Martin Perry, CEO of Enteq Upstream plc, commented:

"Enteq continues to develop new territories and applications for our equipment.  This contract award represents the ongoing efforts to broaden the company's market presence.

For further information, please contact:

Enteq Upstream plc                                                                 [phone]

Martin Perry, Chief Executive Officer

David Steel, Finance Director

Investec Bank plc (NOMAD and Broker)                                   [phone]

Chris Treneman, Patrick Robb, David Anderson

 

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