LAM.L Regulatory News (LAM)

30 April 2018

LAMPRELL PLC("Lamprell" and with its subsidiaries the "Group")

COMPLETION OF HAVEN RIG UPGRADE PROJECT

Lamprell announces the successful completion of the upgrade to the mobile operating unit Haven as an accommodation service vessel for use offshore Norway. The unit has been delivered to Jacktel AS, a wholly owned subsidiary of Master Marine AS ("Master Marine"), within budget and as scheduled.

The contract for the Haven rig upgrade was awarded in September 2016 and involved procurement, construction and installation of extended legs and new suction caissons. Lamprell fabricated the leg sections and the caissons in its Hamriyah yard in the United Arab Emirates and the newly-constructed rig components were then installed on to the Haven unit in Norway, before completing the final 48-hour jacking trial. The Haven will be used to accommodate up to 400 personnel during offshore installation and commissioning activities at Statoil's strategic Johan Sverdrup phase 1 development project. There were zero recordable incidents across the more than 2.5 million manhours completed on the project.

Christopher McDonald, CEO, Lamprell, said:

"I am pleased to be marking the delivery of this rig upgrade project to Master Marine. Our project team has performed very well to deliver this project safely, on time and on budget despite a number of challenging requirements including the installation works during the Norwegian winter months. We would like to thank Master Marine for their business and their trust in Lamprell and we hope to be working with them again soon."

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Notes to editors

Lamprell PLC, based in the United Arab Emirates ("UAE") and with over 40 years' experience, is a leading provider of fabrication, engineering and contracting services to the offshore and onshore oil & gas and renewable energy industries. The Group has established leading market positions in the fabrication of shallow-water drilling jackup rigs, liftboats, land rigs, and rig refurbishment projects, and it has an international reputation for building complex offshore and onshore process modules and fixed platforms.

Lamprell employs more than 5,000 people across multiple 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 joint venture agreement). Combined, the Group's facilities cover approximately 828,000 m2 with 1.6 km of quayside.

Lamprell is listed on the London Stock Exchange (symbol "LAM").