LAM.L Regulatory News (LAM)

1 Jun 2007 07:01

Lamprell Plc01 June 2007 ANNOUNCES US$33 MILLION OF NEW CONTRACT AWARDS Lamprell (symbol: LAM), a leading provider of specialist engineering services tothe international oil & gas industry based in the UAE, is pleased to announcethe award of topside and process module fabrication contracts from Kanfa AS, DPProducer AS and Scana AMT and the award of jackup rig refurbishment contractsfrom Saipem (Portugal) Comercio Maritimo, Noble International Limited, Aban 7Pte. Limited and Nabors Drilling International Limited. The total value ofthese contracts is expected to exceed US$33.0 million. Process modules for Kanfa AS Lamprell has been awarded an initial contract of US$8.86 million for theprocurement, fabrication and assembly of process modules for the Knock Allanconversion project by Kanfa AS for the Fred Olsen Production Knock Allan tanker.On completion the vessel will be installed as a Floating Production Storage &Offloading facility ("FPSO") offshore Gabon, West Africa and will provideprocess storage and offloading facilities for CNR International Limited on theOlowi field. Process modules, quarters extension, and Dis-connectable Riser Buoy installationfor DP Producer AS and Scana AMT DP Producer AS and Scana AMT have collectively awarded Lamprell contracts valuedat US$13.9 million for the fabrication of topside process modules, a quartersextension and a new technology Dis-connectable Riser Buoy ("DRB") designed byScana for first use on DP Producer's Deep Producer dynamically positioned FPSO.Delivery is scheduled for the 4th quarter of 2007. Jackup rig refurbishment Lamprell has secured jackup rig refurbishment contracts valued cumulatively atUS$5.7 million for the Saipem rig Perro Negro II, the Noble Drilling rig KennethDelaney and the Aban rig Aban VII. Lamprell also received an offshore rigupgrade award valued at US$4.25 million from Nabors Drilling InternationalLimited for a comprehensive suite of modifications and repairs to its rig 145,now renamed the 867. Commenting on these contract awards Chief Operating Officer, David Moran, said: "We are very pleased to be able to announce these contract awards as theycontinue to demonstrate the wide spectrum of expertise we have at Lamprell andour ability to offer our clients improved engineering solutions. This year sofar has been our most successful to date and we believe we can continue todeliver strong performance going forward." Enquiries: Lamprell plc (+44 20 7638 9571) Peter Whitbread, Chairman and Chief Executive Officer David Moran, Chief Operating Officer JPMorgan Cazenove, London (+44 20 7588 2828) Nick Garrett Malcolm Moir Citigate Dewe Rogerson, London (+44 20 7638 9571) Media enquiries: Martin Jackson/George Cazenove Analyst enquiries: Nina Soon Notes to editors • Lamprell, based in the UAE, has played an increasingly prominentrole in the development of the offshore industry in the Arabian Gulf for over 30years, in later years providing specialised services to the offshore oil and gasindustry. • Lamprell's two primary facilities are in Port Khalid, in theEmirate of Sharjah, and in the Jebel Ali Free Zone, in the Emirate of Dubai,both of which are in the UAE • The principal markets in which Lamprell operates, and theprincipal services it provides, are: - Upgrade and refurbishment of offshore jackup rigs; - New build construction for the offshore oil and gas sector, includingFloating Production, Storage and Offloading systems and other offshore andonshore structures; and - Oilfield engineering services, including the upgrade andrefurbishment of land rigs. • Lamprell has grown strongly over the last three years, driven bybuoyant conditions in the oil and gas industry and the increase in capacity withthe opening of its facility in the Jebel Ali Free Zone in 2002. This information is provided by RNS The company news service from the London Stock Exchange