Titan revealed in July that it had been in talks with an unnamed Asia-based offshore oil rig manufacturer about a possible collaboration.
The company said on Tuesday that this cooperation, which is expected to be long term, would involve utilising and adapting the production facilities at Titan’s shipyard in Quanzhou, China.
Under the proposed deal, the shipyard would be used to manufacture oil drilling platforms, offshore oil production engineering equipment and for the conversion of ships.
Titan
