TTS Group ASA has through its subsidiary TTS Offshore Handling Equipment AS in Norway, signed a contract with a total value of approximately. 120 MNOK.
The contract is with Daewoo Shipbuilding & Marine Engineering Co., Ltd. in Korea and concerns delivery of four large offshore cranes, additional equipment for riser handling and pipe handling for a drillship for Vantage Drilling Company, USA. The contract comprises three options for delivery of identical equipment.
“After being awarded a similar contract from STX Offshore & Shipbuilding Co., Ltd. In November 2012, this contract represents a final breakthrough in a very interesting and significant market segment. We have pursued prospects within this segment for a long time, and this contract enhances our position within offshore load handling” says CEO Johannes D. Neteland.
Press Release, August 26, 2013