OIL and gas well technology firm Plexus Holdings has won a contract to supply its equipment for use in North Sea clean up operations.

Aberdeen-based Plexus said it will supply kit to Oceaneering of Norway for well abandonment operations in the area.

The Aim-listed company did not disclose the value of the contract.

However chief executive Ben van Bilderbeek said the win underlined the potential for Plexus to build new revenue streams after selling the unit that had generated the bulk of its income.

Plexus sold the division that produces wellhead equipment for use on jack up exploration rigs to TechnipFMC for up to £42.5 million in a deal that completed on February.

The company retained the right to sell technology for use in other markets.

Mr van Bilderbeek said: “In addition to the abandonment market, we also have products that are ready for deployment in subsea and surface production, two substantially larger markets than jack-up exploration, as well as a number of other applications that we are actively pursuing in other areas of the broader energy industry, such as geothermal.”

He added the sale of the jack-up business had provided industry validation of the company’s technology from a leading global equipment firm.

Plexus was hit by the slowdown in North Sea exploration amid the crude price plunge from 2014.