LAM Lamprell Plc

TIDMLAM

RNS Number : 5181L

Lamprell plc

28 April 2015

28 April 2015

LAMPRELL PLC

("Lamprell" and with its subsidiaries the "Group")

CONTRACT AWARD

Lamprell (ticker: LAM), a leading provider of diversified fabrication, engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, is pleased to announce that National Drilling Company ("NDC"), Abu Dhabi, has exercised one of its existing options and awarded a contract to Lamprell for the construction and delivery of a high specification jackup drilling rig. Lamprell has previously been awarded contracts by NDC for a series of eight rigs and this ninth rig will be of the same design. The LeTourneau-designed, Super 116E (Enhanced) Class mobile offshore drilling unit will be constructed at Lamprell's facility in Hamriyah, United Arab Emirates (UAE), with a planned delivery in Q2 2017.

As previously announced, NDC has further options for Lamprell to build up to an additional two jackup rigs of the same design, which have been extended to 3Q 2015.

James Moffat, Chief Executive Officer, Lamprell, said:

"I am delighted to be able to announce this new award from NDC, thereby extending our on-going relationship with our largest client by way of a ninth new build jackup rig in the series. This is particularly pleasing given the backdrop of a challenging market environment. We are proud of the continuing confidence that NDC has shown in our track record for delivering high quality work competitively and to schedule and this consistent focus on client satisfaction is one of Lamprell's key strengths. We take this opportunity to thank NDC for this further business.

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."

- Ends -

Enquiries:

 
  Lamprell plc 
 
   James Moffat, Chief Executive 
    Officer                         +971 (0) 4 803 9308 
   Tony Wright, Deputy Chief 
    Financial Officer               +971 (0) 4 803 9308 
   Natalia Erikssen, Investor 
    Relations                       +44 (0) 7885 522 989 
  Tulchan Communications, 
    London                    +44 (0) 207 353 4200 
   Martin Robinson 
   Martin Pengelley 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

CNTGIGDSUXDBGUI

Lamprell (LSE:LAM)
Historical Stock Chart
From Mar 2024 to Apr 2024

Lamprell (LSE:LAM)
Historical Stock Chart
From Apr 2023 to Apr 2024