|
Hunting PLC on Tuesday said it has won multiple orders for its titanium stress joint product line for a new offshore development in Guyana. The London-based provider of equipment and engineering services to the oil and gas industry said that the award is worth $63.5 million, and that it will be delivered through May 2028. Revenue will be recognised from the second half of 2026. The order will be completed by the Subsea Spring business unit, and it is in addition to $4.4 million of orders secured by the company’s Stafford and Flexible Engineered Solutions business units for the same development since the end of 2025. Hunting added that further incremental orders are likely to be received throughout the remainder of 2026, and the awards demonstrate the success of its titanium stress joint solution used on floating production, storage, and offloading vessels. Chief Executive Jim Johnson said: ‘Our TSJ product line, which is a critical component for offshore developments, continues to be adopted on key offshore projects utilising FPSOs, given the maintenance benefits and reliability offered. ‘This order also contributes to our guided subsea product group revenue and [earnings before interest, tax, depreciation, and amortisation] through to 2028, as published at our subsea investor event held in January 2026.’ Hunting shares were up 1.8% at 500.00 pence each on Tuesday morning in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
