Precision engineering firm Hunting has secured awarded an order worth $31 million for its titanium stress joints (TSJs), which will form part of a phase three deepwater gas development in the Turkish area of the Black Sea.
Hunting's Subsea Spring business unit, located in Texas, will supply six TSJs, which include the company’s patented 'Direct Pull-thru Tube' technology, to be utilized on the second and third floating production, storage and offloading vessels operating on a deepwater development.
The contract is anticipated to be completed over the next 24 months, with the first delivery expected in the first quarter of 2027.
The award follows Hunting's maiden contract for the phase two development received in 2024, which is currently under production and will be completed by 2026. Together, the two awards represent around $51.6 million of revenue for the company.
"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,” said Jim Johnson, Chief Executive of Hungting.