28th Apr 2015 09:13
LONDON (Alliance News) - Lamprell PLC Tuesday said it has been awarded a contract to construct and deliver a new high specification jack-up drilling rig in Abu Dhabi from its largest existing customer.
The provider of engineering and contracting services to the onshore and offshore oil, gas and renewable energy industries said National Drilling Co exercised an option to award Lamprell the contract, which will result in Lamprell supplying its ninth rig to the National Drilling Co.
"I am delighted to be able to announce this new award from National Drilling Co, thereby extending our on-going relationship with our largest client by way of a ninth new build jackup rig in the series," said Chief Executive James Moffat.
All of the rigs supplied by Lamprell to the company have been LeTourneau design, Super 116E (enhanced) class mobile offshore drilling units, with this latest rig to be constructed at a Lamprell facility in the United Arab Emirates before being delivered to the National Drilling Co in Abu Dhabi in the second quarter of 2017.
Lamprell said National Drilling Co has further options for the company to build up to a further two jack-up rigs of the same design before the third quarter of 2015.
"With Lamprell now constructing a total of seven new rigs, we are establishing a reputation as a leading fabricator for major projects in the global energy market. Our focus will be on maintaining the highest standards of project execution and using our competitive position to convert our pipeline into contract wins," said Moffat.
Lamprell shares were up 2.9% to 134.50 pence per share on Tuesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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