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Provider: Reuters Investment Profile
Provider: Wright Reports

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TTS Group ASA Signs Contract for Offshore Cranes Worth NOK 130 Million

Tuesday, 20 Nov 2012 02:12am EST 

TTS Group ASA announced that it has through its subsidiary TTS Offshore Handling Equipment AS signed a contract worth approximately NOK 130 million in Korea. The contract is with STX Offshore & Shipbuilding Co., Ltd in Korea and concerns delivery of four 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 USD 5 million in Sigma Drilling. The contract with STX also comprises an option for delivery of four identical equipment installations. The delivery will take place in the third and fourth quarter of 2014. 

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