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Lamprell nets $333m double jackup deal

NDC orders two further Super 116E rigs for delivery in 2014/2015

The rigs will be built at Lamprell's Hamriyah facility in Sharjah.
The rigs will be built at Lamprell's Hamriyah facility in Sharjah.

Lamprell, the UAE oilfield engineering services group, is pleased to announce the exercise by National Drilling Company ("NDC"), Abu Dhabi, of the options for Lamprell to build a further two jackup rigs in addition to the four rigs currently under construction by Lamprell for NDC.

The new agreement with NDC is for the construction and delivery of two jackup rigs valued at $166.65 million each.

As with the existing rigs under construction, these additional rigs will be completely outfitted and equipped, LeTourneau designed, self-elevating Mobile Offshore Drilling Platforms of a Super 116E (Enhanced) Class design. The rigs consist of triangular hulls and three 310 foot truss type legs per rig, each leg with an electro-mechanical rack and pinion elevating system, which will allow drilling in depths of up to 200 feet of water with a rated drilling depth of 30,000 feet.

Deliveries are scheduled to be in Q4 2014 and Q1 2015 respectively. The work will be performed at Lamprell’s Hamriyah facility.

The orders increase Lamprell's current backlog of rig fabrications with NDC to six jackups, after the Abu Dhabi drilling company exercised an option for two rigs in October last year on the same terms.

Nigel McCue, Chief Executive Officer, Lamprell commented:

"We are delighted to announce today the exercise by NDC of these options, and for the opportunity to further strengthen the relationship with this prestigious customer. This is another significant contract award, demonstrating the health of the market for jackup rigs, and reflecting Lamprell’s strong reputation for quality and service, whilst further extending our growing order book."

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