Lamprell Wins Seajacks Rig Contract

United Arab Emirates-based oilfield services firm Lamprell announced Tuesday that it has won a $121 million contract from Seajacks 4 to supply it with a jackup rig.

The engineering, procurement and construction contract is for the design, construction and delivery of a Seajacks-modified Gusto MSC NG 2500X self-elevating and self-propelled jackup rig. The rig will be used for offshore oil and gas operations as well as offshore wind turbine installation and maintenance.

The vessel, to be called 'Seajacks Hydra', will weigh more than 7,000 tons and will be equipped with dynamic positioning, high-speed jacking systems, a 400-ton crane and a propulsion system that is designed to allow it to sail at eight knots. It will be constructed at Lamprell's Hamiray facility in the UAE and is scheduled for delivery in 2014.

This will be the fourth vessel built for Seajacks by Lamprell.

"I am delighted that Seajacks [is] continuing to work with Lamprell, following successful delivery of three vessels to them in the recent past. This reinforces our customer's confidence in Lamprell's ability to deliver major construction projects on time and budget," said Lamprell CEO Nigel McCue.

The Seajacks contract is another piece of welcome news for the company and its investors after it issued a second profit warning in June on account of the business being adversely affected by delays in key specialized vendor equipment deliveries. In mid-June, the firm provided some respite by announcing it had delivered a new offshore drilling platform to a Mexican customer and had appointed a new chairman.



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