Lamprell wins contract for two Super 116E Class jack-up rigs from Shelf Drilling
Lamprell (ticker: LAM), a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, is pleased to announce that it has received a new contract award from a subsidiary of Shelf Drilling, Ltd. ("Shelf Drilling"), for the construction and delivery of two high specification, LeTourneau-designed, self-elevating Mobile Offshore Drilling Platforms of a Super 116E (Enhanced) Class, the Company said in a press release.
The two jackup rigs, designed through collaboration between engineering and operations personnel from Shelf Drilling, Shelf Drilling's customer and Lamprell, will be capable of operating in water depths of up to 350 feet and 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.
Lamprell will fabricate both jackup rigs in its Hamriyah yard, located in the United Arab Emirates, and they will be among the first to benefit from the productivity improvements that Lamprell is in the process of implementing.
The first rig is scheduled for delivery in Q3 2016, the second unit is to be delivered in Q2 2017. The rigs are being constructed for operations in South East Asia. This new contract is valued at more than US$ 370 million.
United Arab Emirates headquartered Lamprell has specialized in the development of the energy industry in the Middle East for over 35 years. Today its is the regional market leader in the rig construction business. Lamprell is a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries and since its IPO in 2006 it has established leading market positions in the construction of shallow-water drilling jackup rigs, liftboats, land rigs and rig refurbishment, as well as an international reputation for complex process modules and topsides. Lamprell employs approximately 10,000 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) and Kuwait. Combined, the Group’s facilities cover approximately 910,000 m2 with 2.2 km of quayside.
James Moffat, Chief Executive Officer, Lamprell, said: "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. 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.
