TTS Energy AS, subsidiary of TTS Group ASA, has signed a Letter of Intent (LoI) with OSX WHP 1 & 2 Leasing B.V, subsidiary of OSX S.A of Brazil, for delivery of two complete wellhead platform drilling units (WPDUs). The companies are aiming to enter a firm contract within short time.
The scope of work will be executed jointly by a Consortium consisting of TTS Energy AS, Siemens AS, AS Nymo and MI-Swaco. The value of TTS drilling packages for the two drilling units is approximately MNOK 675 (USD 125.6 million) which represents approximately 50% of the total value.
TTS Energy is a supplier of high performance drilling and handling solutions to the international oil and gas industry.
Source:TTS Energy ,September 7, 2011; Image:OSX