24 Feb 2021 08:00
24 February 2021
LAMPRELL PLC("Lamprell" and with its subsidiaries the "Group")
NEW CONTRACT AWARD
Lamprell appointed on one of Saudi Aramco's LTA projects
Lamprell is pleased to announce that it has been awarded an Engineering, Procurement, Construction and Installation (EPCI) contract (the "Contract") by Saudi Aramco as part of their Long-Term Agreement Programme (LTA) with Lamprell.
Works on this large* Contract consists of two offshore production deck modules and associated pipeline and subsea cables in Saudi Aramco's Marjan Field.
The Marjan Field is located in the Arabian Gulf, off Saudi Arabia's East Coast and is one of the largest oil and gas fields in the region.
Christopher McDonald, CEO, Lamprell, said:
"We are delighted to have received our first LTA contract award since joining the programme in 2018. Our team has been working closely with Saudi Aramco over the past few months and we look forward to strengthening our partnership through this project. Marjan is a strategic asset of global significance and we are honoured to play a role in its development. The award reinforces our commitment to our strategy and we look forward to working on further opportunities in the region."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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Notes to editors
Lamprell, 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 also has an international reputation for building complex offshore and onshore process modules and fixed platforms.
Lamprell employs more than 4,000 people across multiple facilities, with its primary facilities located in Hamriyah, in the UAE. Combined, the Group's facilities cover approximately 800,000m2 with over 1.5 km of quayside. In addition, the Group has facilities in Saudi Arabia (through a joint venture agreement).
Lamprell is listed on the London Stock Exchange (symbol "LAM").
*Lamprell defines a "large contract" as between USD 51 and USD 150 million