Hunting PLC has secured nearly US$68 million in orders for a new offshore development in Guyana.
The FTSE 250-listed group announced it has won a US$63.5 million contract for its titanium stress joint (TSJ) product line, with revenue expected to be recognised from the second half of this year through to May 2028.
The company also confirmed that a further US$4.4 million in orders has been secured since December by its Texas-based Stafford facility and its UK-based Flexible Engineered Solutions business unit. It expects additional incremental orders throughout the remainder of 2026.
Hunting said the TSJ contract reflects progress in its strategic ambition to deliver a range of solutions for floating production, storage and offloading (FPSO) vessels used in offshore developments, enabling it to capture a larger share of projected spending on major subsea projects.
Chief Executive Jim Johnson said: “Our TSJ product line, a critical component for offshore developments, continues to be adopted on key projects utilising FPSOs, due to the maintenance benefits and reliability offered.”
He added that the TSJ order will contribute to projected subsea product group revenue and EBITDA through to 2028, as outlined at a subsea investor event held in January. (Yahoo Finance)
