RNS Number : 3774C
01 May 2012
1 May 2012
(the "Company", or "Lamprell" )
LAMPRELL ANNOUNCES US$ 227 MILLION CONTRACT AWARD
Lamprell (ticker: LAM), a leading provider of diversified engineering and contracting products and services to the onshore and offshore oil & gas and renewables industry, is pleased to announce that it has received a US$ 227 million new contract award from an international drilling contractor for the construction of a jackup rig.
The contract is for the construction and delivery of a completely outfitted and equipped, LeTourneau designed, self-elevating Mobile Offshore Drilling Platform of a Super 116E (Enhanced) Class design, valued at US$ 227 million. The rig is designed to operate in water depths of up to 350 feet and will have a rated drilling depth of 30,000 feet. Fabrication will take place at Lamprell's Hamriyah yard. The project is planned to be completed in Q4 2014.
Nigel McCue, Chief Executive Officer, Lamprell commented:
"It is with great pleasure that we announce today a contract award from a highly valued customer for the construction of a Super 116E jackup rig. This further evidences the sustained demand for these rigs and the confidence in Lamprell's ability to deliver a quality product with a strong commitment to customer service."
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Notes to editors
Lamprell, based in the United Arab Emirates ("UAE"), and with operations throughout the region, has played a prominent role in the development of the offshore industry in the Arabian Gulf for over 30 years and is the regional market leader in the rig market. Lamprell is a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries.
Lamprell employs over 14,000 people across six facilities, with its primary facilities located in Hamriyah, Sharjah and Jebel Ali, all of which are in the UAE. In addition, the Group has facilities in Saudi Arabia (through a JV agreement) and Kuwait. Combined, the Group's facilities provide a total area of over 925,000 m² with 2.2 km of quayside.
Oil & Gas
· New build offshore
· Rig refurbishment
· Engineering & Construction
· Land rig services
· Wind farm installation vessels
· Transformer stations
· Jackets, topsides and substructures
· Engineering services
· INSPEC (NDT and calibration services)
· Sunbelt H2S safety services
· Operations & Maintenance
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