Hunting has secured a USD 63.5 million subsea order for a new offshore development in Guyana, marking continued investment in FPSO-based projects in the region. The contract award reinforces the ongoing expansion of deepwater operations in one of the world's fastest-growing offshore oil provinces.

Contract Details and Scope

The USD 63.5 million award covers the supply of titanium stress joints (TSJs), which serve as critical components in subsea riser systems for floating production, storage, and offloading (FPSO) vessels. These specialized components play an essential role in the subsea infrastructure supporting offshore oil production operations. Hunting's Subsea Spring business unit will execute the work under the contract.

The company has scheduled delivery of the titanium stress joints through May 2028, providing a clear timeline for project completion. Revenue recognition from this contract is expected to begin in the second half of 2026.

Additional Contract Awards

The major subsea order builds upon additional contracts worth $4.4 million that have been awarded to other Hunting business units since late 2025. These supplementary contracts went to Hunting's Stafford and Flexible Engineered Solutions units, expanding the company's involvement in the Guyana offshore project.

The company indicated potential for further scope expansion as the development progresses, suggesting additional contract opportunities may emerge during the project's advancement phases.

Regional Market Context

Guyana continues to establish itself as one of the fastest-growing offshore oil provinces globally, driven by a robust pipeline of deepwater FPSO developments. The region's growth trajectory reflects the significant hydrocarbon discoveries and subsequent development activities that have positioned it as a major player in offshore oil production.

Subsea infrastructure, including riser systems and associated components, maintains a central role in supporting production from these offshore projects. The specialized equipment required for deepwater operations, such as the titanium stress joints covered in Hunting's contract, represents critical technology for enabling production from floating platforms in challenging offshore environments.

Strategic Outlook

Hunting stated that the contract award supports its subsea segment outlook through 2028, aligning with the timeline for major offshore developments and associated FPSO installations being advanced by operators in the region. The multi-year contract provides visibility for the company's subsea operations and reinforces its position in the growing Guyana offshore market.

The award demonstrates the continued momentum in FPSO-based developments, with operators moving forward on major offshore projects that require sophisticated subsea infrastructure. The titanium stress joints supplied by Hunting will serve as key components in the riser systems that connect subsea wells to floating production facilities.

The contract timeline extending through May 2028 indicates the substantial duration required for manufacturing and delivering specialized subsea equipment for deepwater projects. The phased revenue recognition beginning in the second half of 2026 reflects the production and delivery schedule for the titanium stress joints.

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