London-based Hunting PLC Secures $31 Million Subsea Order for Black Sea Gas Development

The precision engineering group, Hunting PLC, headquartered in London, has recently announced the acquisition of a $31 million subsea order for its titanium stress joints (TSJs). This order is designated for the third phase of a deepwater gas development project located in the Turkish part of the Black Sea.

Six TSJs, featuring the innovative Direct Pull-thru Tube technology, will be supplied by Hunting’s Subsea Spring business unit based in Houston, Texas. These components are intended for use on the second and third floating production, storage, and offloading (FPSO) vessels involved in the deepwater development initiative.

The timeline for completion of the contract spans over the next 24 months, with the initial delivery scheduled for Q1 2027.

According to Jim Johnson, the Chief Executive of Hunting, “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.”

Johnson further added, “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.”

This recent contract win follows Hunting’s previous contract for the phase two development, received in 2024 and currently in production. Together, the two contracts represent approximately $51.6 million in revenue for the company.

Additionally, Hunting revealed its active pursuit of further contract opportunities in the phase three development utilizing its recently acquired Flexible Engineered Solutions (FES) product portfolio. This strategic move aligns with Hunting’s broader growth strategy focusing on expanding subsea operations.

With this latest contract achievement, Hunting’s Subsea product group now boasts a sales order book totaling around $125 million, a significant increase from the $72.5 million reported as of December 31, 2024.