Lamprell Bags $210 Million Offshore Drilling Platform Contract

November 22, 2010
Lamprell announced that it has received $210 million new contract awards from Eurasia Drilling Company Limited. The company provides specialist engineering services to the international oil & gas and renewables industry.

The contract with EDC is for the construction and delivery of a completely outfitted and equipped, LeTourneau designed, self elevating Mobile Offshore Drilling Platform of a Super 116E Class design valued at USD 210 million. The rig is designed to operate in water depths of up to 250 feet and will have a rated drilling depth of 30,000 feet.

Lamprell will fabricate the jackup rig in modular form in its new yard in Hamriyah and then complete the construction and commissioning in a shipyard which is yet to be determined, in the Caspian Sea. The project is planned to be completed 24 months from the commencement of construction.

In rig refurbishment Lamprell has worked on a total of 42 jackup rigs in 2010 and these projects have included work scopes covering the full range of our upgrade and refurbishment services. Projects have been shared between their UAE facilities with Sharjah working on 21 rigs and the Hamriyah facility working on 21 jackups. As previously guided, the jackup rig upgrade and refurbishment activity is at a lower level of average expenditure than in the prior year and recently the Company has experienced a slowdown in the rig refurbishment business.

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