8 Feb 2010 07:00
8 February 2010
LAMPRELL PLC
("Lamprell" or the "Company")
LAMPRELL ANNOUNCES US$ 39.4 MILLION CONTRACT AWARD
Lamprell (ticker: LAM), a leading provider of specialist engineering services to the international oil & gas industry, is pleased to announce that it has received a US$ 39.4 million new contract award from a leading oil and gas operator in India.
The Engineering, Procurement, Installation & Construction contract has been awarded to Lamprell and its consortium partner Swiber Offshore Construction Pte Ltd. ("Swiber"). Under the consortium arrangement Lamprell will design and construct two offshore well head platforms for an offshore gas field development in India, and Swiber will undertake the transportation, installation and pipeline aspects of the project. Lamprell's revenue from this contract is expected to be US$ 39.4 million.
The well head platforms comprise of piles, jacket and topside platform and Lamprell will undertake this project at its Jebel Ali facility. The load out weight of each platform (with jacket and piles) will be in excess of 2,000 tonnes. Delivery of the platforms at Lamprell's Jebel Ali quayside is scheduled for December 2010.
Commenting on the contract awards Nigel McCue, Chief Executive Officer, Lamprell said:
"We are very pleased to have been awarded our first contract as a primary contractor in the Indian offshore market for the delivery of two offshore well head platforms. We are delighted that the contract is in a strategic growth area for Lamprell, which we have been targeting for some time, and together with our consortium partner, Swiber, we look forward to collaborating on similar projects going forward."
Enquiries:
Lamprell plc +44 (0) 207 920 2330Jonathan Silver, Chairman
Nigel McCue, Chief Executive Officer
Scott Doak, Chief Financial Officer
M:Communications, London Patrick d'Ancona +44 (0) 207 920 2347
Georgina Briscoe +44 (0) 207 920 2348
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 Upgrade and refurbishment of offshore jackup rigs;
o Engineering, procurement and construction of jackup rigs, liftboats and drilling related equipment;
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.