TTS Group ASA has through its subsidiary TTS Offshore Handling Equipment AS signed a contract worth approximately NOK 130 million (approx. $22,6 million) in Korea.
The contract is with STX Offshore & Shipbuilding Co., Ltd in Korea and concerns delivery of four large offshore cranes and equipment for riser handling, including a special crane for pipe handling. The equipment is to be installed on a drillship ordered by Sigma Drilling Ltd. TTS Group ASA invest at the same time 5 MUSD in Sigma Drilling, reference to separate statement of 20th November 2012.
The contract with STX also comprises an option for delivery of four identical equipment installations.
The delivery will take place in the 3rd and 4th quarter of 2014.
[mappress] TTS Group, November 20, 2012