- Hunting
- 01 December 2025 07:11:17
Source: Sharecast
Hunting said the deal marks a strategic breakthrough into South America for its Oil Optimisation and Recovery technology, and was the first new territory entered since buying the business in March 2025.
Awarded in November, the contract was with a Brazilian oil and gas exploration and production company and covers the sampling of 20 wells across 11 onshore fields in the north of the country. Operations have already begun and are expected to continue into 2026, when full field implementation and analysis will take place.
The FTSE 250-listed firm noted that the award underlined strong customer interest and the long‑term potential of OOR's patented enhanced oil recovery technology, which was designed to optimise reservoir performance and recovery rates across the life cycle of production wells.
Chief executive Jim Johnson said: "This contract represents a strategic milestone for OOR and for the wider Hunting Group. Not only does it unlock the technology's potential in an important geographical region, but it demonstrates how OOR can leverage Hunting's diverse global footprint to accelerate its long-term commercial potential.
"The acquisition of OOR, in addition to that of Flexible Engineering Solutions earlier this year, demonstrates that the company continues to make good progress in expanding Hunting's global subsea offering."
Reporting by Iain Gilbert at Sharecast.com