Oilfield tech firm Plexus to take £650K hit as it ‘suspends activities’ in Russia

Oilfield tech firm Plexus to take £650K hit as it ‘suspends activities’ in Russia

Aberdeen-headquartered Plexus Holdings has announced it will “suspend activities” in Russia in light of the war in Ukraine.

The oil well technology firm first signed a deal with Gusar LLC in 2016 to make and rent its exploration equipment for jack-up rigs in Russia, which ultimately lead to a deal to supply Russia state-owned firm Gazprom.

Plexus said it it is suspending activity in light of the “tragic war in Ukraine”, and that its “thoughts are with the Ukrainian people, as well as with ordinary Russians who are suffering consequences”.