Under the deal with equipment manufacturers LLC Gusar and CJSC Konar, the two companies will rent, manufacture and service Plexus’ jack-up drilling wellhead exploration equipment.
Both Gusar and Konar will make a quarterly royalty payment to Plexus based on the invoice value on all Plexus products sold, Plexus said.
The agreement will see Gusar make an initial non-refundable, non-offsettable payment of $5 million in return for Plexus granting the licence, however, the full value of the agreement was not disclosed.
“This
