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3 May 2011 07:00
03 May 2011
LAMPRELL PLC
("Lamprell")
LAMPRELL ANNOUNCES US$ 57 MILLION JACKUP RIG UPGRADE AND REFURBISHMENT CONTRACT AWARDS
Lamprell (ticker: LAM), a leading provider of specialist engineering services to the international oil & gas and renewables industry, is pleased to announce that during the first four months of 2011 orders have been secured from multiple clients to undertake a number of jackup rig upgrade and refurbishment projects, with a combined contract value of approximately US$ 57 million. These projects include contracts valued in aggregate at US$ 14.7 million for Nabors International Limited rigs "655" and "656" and at US$ 27.5 million for conversion works to the Rig 'Burj', owned and operated by Burj LLC, part of the Millennium Offshore Services group. The Rig 'Burj' is a multi-purpose jackup unit capable of operating in water depths of 330 feet which is to be converted into an accommodation platform for upwards of 250 personnel.
The work on these projects will be executed at Lamprell's Sharjah and Hamriyah facilities.
Commenting on the announcement, Chief Executive Officer, Nigel McCue, said:
"We are pleased to announce these recent contract wins, demonstrating the renewed activity we are experiencing in the rig refurbishment and upgrade market and representing a strong improvement from the lower levels of expenditure experienced in the second half of 2010. We believe these awards reflect our strong reputation for quality and service."
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Enquiries:
Lamprell plc | +44 (0) 207 920 2347 |
Jonathan Silver, Chairman Nigel McCue, Chief Executive Officer Scott Doak, Chief Financial Officer | |
M:Communications, London | |
Patrick d'Ancona | +44 (0) 207 920 2347 |
Andrew Benbow | +44 (0) 207 920 2344 |
Notes to editors
Lamprell, based in the UAE, has played an increasingly prominent role in the development of the offshore industry in the Arabian Gulf for over 30 years, in later years providing specialised services to the offshore oil and gas industry.
·; Lamprell's three primary facilities are in Port Khalid and the Hamriyah Free Zone, in the Emirate of Sharjah, and in the Jebel Ali Free Zone, in the Emirate of Dubai, all of which are in the UAE.
·; The principal markets in which Lamprell operates, and the principal services it provides, are:
o Engineering, procurement and construction of jackup rigs, liftboats and drilling related equipment;
o Upgrade and refurbishment of offshore jackup rigs;
o New build construction for the offshore oil and gas sector, including Floating Production, Storage and Offloading systems and other offshore and onshore structures; and
o Oilfield engineering services, including the upgrade, refurbishment and new building of land rigs.
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