Hunting secures $31m subsea order for Turkish Black Sea gas project
Investing.com -- Hunting PLC (LON:HTG) has been awarded a $31 million order for titanium stress joints for a deepwater gas development in the Turkish area of the Black Sea.
The contract, received by Hunting’s Subsea Spring business unit, involves supplying six titanium stress joints with patented Direct Pull-thru Tube technology.
These components will be used on the second and third floating production, storage and offloading vessels operating at the deepwater development.
The $31 million contract is expected to be completed over the next 24 months, with the first delivery scheduled for the first quarter of 2027.
This award represents phase three of the deepwater gas project and follows Hunting’s initial contract for the phase two development received earlier in 2024, which will be completed by 2026.
Hunting is also pursuing additional contracts associated with this project for its recently acquired Flexible Energy Solutions portfolio.
Following this contract win, Hunting’s Subsea group now has a sales order book of approximately $125 million, while the Group’s total order book stands at around $480 million.
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