TTS wins Korean offshore order

TTS Group in Norway has secured an order to supply STX Offshore & Shipbuilding Co of Korea with four large offshore cranes and equipment for riser handling, including a special crane for pipe handling.

The NOK 130 million (US$ 23 million) order, signed by subsidiary TTS Offshore Handling Equipment AS, also comprises an option for delivery of four identical equipment installations.

The equipment is to be installed on a drillship ordered by Sigma Drilling Ltd. Delivery is scheduled towards the end of 2014.

TTS, which designs, develops and supplies equipment for the marine and oil and gas industries, will also invest US$ 5 million in Sigma Drilling, in connection with the Sigma order for a drillship.

The Skeie group, who controls 30% of the shares of TTS Group ASA, has invested in Sigma separately.