20 Dec 2018 14:30
20 December 2018
LAMPRELL PLC("Lamprell" and with its subsidiaries the "Group")
NEW CONTRACT AWARD
Lamprell is pleased to announce that it has been selected by GeoSea Procurement & Shipping Luxembourg SA, a wholly owned subsidiairy of GeoSea NV ("GeoSea"), the lead engineering, procurement, construction and installation contractor on the Moray East offshore wind farm, to fabricate jacket foundations for the project. Lamprell will fabricate 45 out of approximately 100 jacket foundations required for the wind farm, plus three jackets for the offshore substations also being installed for use on the project.
Total project value is in excess of USD200 million. All fabrication work will be performed in Lamprell's Hamriyah and Sharjah yards in the UAE and is expected to commence in Q2 2019. Lamprell will deliver the jackets to GeoSea from its deep water quayside in the Hamriyah port where GeoSea will transport the jackets to the offshore windfarm field in the North Sea.
The Moray East offshore windfarm project is a 295 km2, 950MW project which is located off the north eastern coast of Scotland and which will be developed and operated by Moray Offshore Windfarm (East) Ltd, GeoSea's client. The wind farm is expected to provide cost effective power for 950,000 UK homes.
Christopher McDonald, CEO, Lamprell, said:
"We are proud to have been selected to be part of the large scale Moray East wind farm project. The contract award manifests our commitment to the fast growing renewables industry which, despite the recent challenges, remains a core strategic focus for Lamprell. Over the past 18 months we have upskilled our workforce and enhanced our systems and processes in order to enable us to deliver projects in the renewables segment safely, cost effectively and to a high standard. We look forward to working with GeoSea over the months to come."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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Legal Entity Identifier of the Company: 2138008NUMXRMIEDF538
Classification: Additional regulated information required to be disclosed under the laws of a Member State
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 3,000 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 812,000 m2 with 1.6 km of quayside.
Lamprell is listed on the London Stock Exchange (symbol "LAM").
GeoSea is DEME's specialist in complex offshore marine engineering projects. GeoSea offers a wide variety of services to owners of offshore assets, marine consultants and marine contractors in the sectors of offshore Oil & Gas, Renewable Energy and Civil Engineering. These services consist of the hammering and drilling of large diameter piles for offshore constructions such as jetties, mooring facilities, bridges, offshore wind farms, the installation of offshore structures, platforms and geotechnical investigations at large depths. Furthermore GeoSea offers supporting and logistic services as well as survey and inspection services and maintenance and repair services of offshore structures.