The floating production storage and offloading (FPSO) vessels deployed for a significant deepwater gas development in the Turkish area of the Black Sea will be equipped with titanium stress joints (TSJ) over the next two years
The US$31mn deal has been bagged by precision engineering group, Hunting plc, who will be delivering six TSJs as part of phase three of the major project. These TSJs, which will be arriving from the company's Subsea Spring business unit in Houston, Texas, are backed by patented 'Direct Pull-thru Tube' technology. The TSJs will be used on the second and third vessels serving the project.
Hunting is also serving the phase two development contract that was reached last year, with completion awaited in 2026. The back to back awards have generated US$51.6mn in revenue for the company.
Speaking of the latest contract, Jim Johnson, Chief Executive, said, "Our continued success in the Turkish area of the Black Sea demonstrates the international demand and strength of Hunting's titanium stress joint product offering. This order continues the Group's run of success deploying this product line into key offshore regions including the Black Sea, Guyana, and the Gulf of Mexico.
"Our revenue opportunities have also been expanded with the acquisition of FES in June, which forms part of our 2030 Strategy to target revenue from the longer cycle segment of the industry, which is less impacted by short-term commodity price volatility."
