27th May 2014 07:45
LONDON (Alliance News) - Lamprell PLC Tuesday said it has won a new contract valued at more than USD370.0 million to construct and deliver two jackup rigs for a subsidiary of Dubai-based Shelf Drilling Ltd.
In a statement, Lamprell, which provides engineering and contracting services to onshore and offshore oil and gas and renewable energy industries, said the self-elevating mobile offshore drilling platforms will be capable of operating up to 350 feet underwater. They will be used in constructing wells with maximum drilling depth of 30,000 feet.
The rigs will feature fit-for-purpose offshore drilling technology, as well as accommodation for up to 160 people, according to Lamprell, which added that it will fabricate both jackup rigs in its Hamriyah yard in the United Arab Emirates.
Lamprell said it is scheduled to deliver the first rig in the third quarter of 2016, while the second is expected to be delivered in the second quarter of 2017. The rigs are being constructed for operations in South East Asia.
"We are delighted to be announcing this project win from Shelf Drilling for the construction of two new build jackup rigs, particularly as Shelf Drilling is a new client for the group," James Moffat, chief executive, said in a statement.
"This is also our second multiple-rig contract award with a major international drilling contractor in the space of a month, demonstrating that the group's strong project execution in its core markets is being recognised. It also reinforces Lamprell's position as a leading fabricator for jackup rigs and our highly attractive proposition to clients," the CEO added.
On April 15, Lamprell said it had won a new contract, valued at USD390.0 million, to construct and deliver two rigs to Ensco Intercontinental GmbH, a subsidiary of Ensco PLC.
Lamprell shares were Tuesday quoted at 149.25 pence, up 2.9%.
By Samuel Agini; [email protected]; @samuelagini
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