Yes, this 'ring' should turn counter-clockwise. If it's rusted, soak it with Liquid Wrench or WD-40, or even naval jelly to loosen it up. Don't hammer on it because you'll deform the tank and the little prongs around the opening. Once you get it off, the fuel sending unit will come right out. Under it will be a rubber O ring. That's probably totally shot also.
I've changed hundreds of in tank fuel pumps and or sending units and have yet to see one that spun right off. Every one i've taken off had to be pursuaded with a hammer and a brass drift. Notice I said Brass to eliminate sparks which may occur if useing a steel punch or chisel. If it's real rusty, soak it with some penetrating fluid to help cut through the rust. Your still going to have to use something to tap the lock ring around to get it off. I believe they make a special tool to get those rings off with but I have never needed one. Just use a little common sense when removing it and you'll have no problem. One more thing if you use a light to look into the tank use a flashlight and not a 110 volt drop light. If the 110 light comes in contact with the gas it could cause the bulb to bust and it sure will be some light then!
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